By Joel Alden, Hana Ben-Shabat, Bobby Wehmeyer and Basil Wuson, A.T. Kearney
To continuously delight customers, most retailers constantly alter product assortments, adjust prices or service offerings and refocus customer experiences. But how often are these actions based on meaningful consumer insights? When the phrase “consumer insight” is misused to refer to simple market research or interesting tidbits of information, then resulting business actions are often hit-or-miss.
Around the world, resurgent retail is inspiring the industry with creativity and challenging traditional ways of doing business. The store is evolving into a fluid idea that fits the mobile, global customer in search of new experiences to share.