Are you mapping your customer journey to bring business transformation?
The Indian mattress industry is at the cusp of transformation.
In today’s multichannel world, consumers have infinite ways to connect in-store and digitally. They have access to constant information through computers, smartphones, tablets, print, resources known to them and each person’s path to purchase is complex and unique.
These multiple touchpoints present challenges to mattress retailers, who must figure out creative ways to get consumers’ attention. It will help the customer to understand the product better and make informed purchase decisions.
Hence, the retailers need to be more aware and responsive to WHEN and WHERE their potential customers are making decisions throughout their ‘always on’ shopping journey.
KPMG surveyed 18,430 consumers across 51 countries about their most recent online shopping experiences.
As per the survey, 59% of consumers first became aware of the product through one or more online channels, but 52% became aware initially through at least one offline channel.
Interestingly, both online and offline, retailers play an important role in overall product awareness. According to the KPMG survey, 30% of respondents first saw the product at an online retailer and 22% had their first experience in a physical shop. Although millennials get influenced by online sources such as social media or peer reviews, they also are more likely to be influenced by offline channels.
What factors affect consumer decisions during research?
According to the KPMG survey, brand reputation (22%) topped the list, price or promotions (27%), and product features (23%). The evaluation stage is as important and is linked with the awareness and consideration stages.
With the transformation in the industry, most of the brands have a strong presence, both offline and online. There has been a shift in terms of understanding the customer’s mindset, aspirations, pain points, and delight.
The moment a customer plans a purchase and researches online, there is enough information to help them drive through the buying journey. Customer testimonials significantly influence buying decisions — both positively and negatively.
Positive customer experiences are equally critical in generating loyal and repetitive purchases. The emergence of the ‘100 day free trial period’, the ‘unboxing’ experience, ‘swift deliveries’ propel the customer’s mindset towards the purchase.
With the emergence of newer players in the industry, there has been a transition from understanding sleep from a health perspective to an emotional, aspirational and psychological perspective. Different campaigns have been undertaken by brands to generate awareness, engage the customer and also add to the customer experience.
Beyond the existing ecosystem where brands are struggling for their space, there is an urgent need to have a greater understanding of how your customers are currently interacting and getting influenced by your brand. How your products and services fit into their lives, schedules, goals, aspirations and help create an impact.
This can only happen through personalisation of content across all touchpoints both offline and online.
Creating communities where the customers engage and share their everyday life experiences, get to interact with like-minded people and experience a sense of belongingness and trust. The brand should also contribute by adding value which entrusts them in the minds of the people.
If you are working towards your business transformation and facing similar issues, please do connect with us. We will try to address all your issues to the best of our abilities. Cheers.