PwC Belgium survey, in cooperation with The Retail Academy (Gondola Group), shows that customers are calling the shots and it’s time for retailers to get fit for the digital age
37% of Belgian
online shoppers shop within Belgium
56% of Belgians
say a better price would convince them to buy from an out-of-country online retailer.
shoppers were comfortable sharing personal data.
18% of Belgians
buy on their mobile at least a few times a year
Connected retail is more than a buzzword… it’s a clear call to action to remain competitive and be successful in today’s market. Both retailers and suppliers are convinced that the omni-channel approach is not the final answer and believe that a more integrated approach is necessary in order to be able to respond to new consumer trends.
They do, however, have low self-esteem in terms of the targetability of goals and what to prioritise. Both retailers and manufacturers understand that the ‘phygital’ shop (physical + digital) is a key target, though integrating the remainder of the value chain seems to have been forgotten. Connected retail still appears to be in the early stages of a major trend and actual organisation model.
Are you ready for connected retail? offers insights from recent surveys and discussions conducted by PwC Belgium and The Retail Academy with consumers and retailers on the topic of connected retail, and highlights key facts and considerations on the next retail reality
"A brand is no longer what we tell the consumer it is, it is what consumers tell each other it is "
Our findings have highlighted seven key facts that amount to a ‘call to action’- it’s time to evolve or be left behind.
In 2014, over 40% of retail managers felt ready for digitisation. At that time, there were primarily two concepts linked to ‘digitisation’. Firstly, retailers thought the value chain needed to be digitised; retailers considered it to be sufficient to lay the work with the manufacturer, with a clear need to digitise their product information and make it available to the value chain. And, digitalisation was often seen as synonymous with ecommerce.
In 2015, just over 20% of retail executives believed their company was ready for digitisation, but it was unclear to them whether digitalisation entailed more opportunities or threats.
In 2016, only 7% of retailers believed that their company was ready to keep pace with digitisation, notably considering finding the right (out)sourcer(s) to be a source of frustration.