We are living in the age of experience. Brands that build their offering solely on the basis of products run the risk of getting left behind as they will have nothing more to compete on other than price. If they don’t add experience to their mix, they also risk getting commoditised. Since retail interacts with consumers through various touchpoints (traditional media, social media, website and stores), it is important to create an experience that engages customers and delights at every point of interaction. Touchpoints that create experiences above customer expectations are the ones that help create mindshare. When mindshare is captured, marketshare follows.
*By 2020, customer experience will overtake price and product as the key brand differentiator. It is the fulcrum on which a brand’s success will be built.
Retail Leadership Summit 2019 will assimilate people from various factions and formats of retail to talk about what could create new brand salience and experiences that help increase mindshare and thus marketshare.
*According to a study by US-based Consumer Intelligence firm Walker