“Experiences are taking prominence over products”, retailers warned
The lessons of the experience economy still need to be applied by retailers if they want to continue to be successful as consumers' expectations change.
A report based on a survey of more than 2,000 consumers found there is a move from the "intrinsic value embedded in the product/service towards the experience".
Four factors determining a customer’s shopping experience have been identified - environment, education, escapism and entertainment - that will influence shoppers' loyalties.
Richard Lim, chief executive at Retail E... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
