By Marie-Christin Hansen-Oracle on May 16, 2013
Today saw the unveiling of the Chinese results from Oracle Retail’s Evolution of Experience Retailing research. Sarah Taylor, Senior Director EMEA & JAPAC, and Allen Miao, General Manager Greater China, hosted a media roundtable event in Beijing, where Chinese results from the research were discussed and compared to other country findings.
Oracle’s Evolution of Experience Retailing research asked consumers in the UK, USA, Germany, Russia, Brazil, China and Japan on their views to fundamental retail principles. The research looked at issues such as customer service, overall experience, preference, shopping trends and attitudes to technology. Global results of this research were announced at the Oracle Retail Exchange event held in January in New York. Mike Webster, Senior Vice President and General Manager, Oracle Retail, introduced the results at the event and a video of his presentation can be seen on our YouTube channel.
Chinese consumers proved to have a strong desire for knowledge around product, price and brands. There was a clear desire for an integrated and flexible approach across all channels, which poses a considerable challenge to retailers in the country.
Results also showed that Chinese consumers are very much open to retailer initiated interactions, when those interactions involve latest information and offers that are targeted and relevant.
Additional key findings from China include:
- Chinese consumers have embraced new technologies such as mobile and social, and have a willingness to source and share information from every avenue in pursuit of a complete shopping experience – more so than any other region surveyed.
- 98% of respondents value the importance of service. Chinese consumers were also the most vocal respondents when it comes to poor service.
- Brand reputation is key in terms of deciding which retailer to visit, although price, choice and a secure transactional process are also important.
Retailers in China need to provide customer experiences that are superior to that of their competition and align them with smarter internal decisions and processes to ensure they market, interact and transact consistently across touch points, whether the consumer is online, in the store or on the go.
Chinese results from The Evolution of Experience Retailing can be found on the research microsite, where you can also access global results, as well as those from the UK, Germany, Russia and Japan. Research resources include a comprehensive whitepaper, byline articles and a key results presentation deck.