Australian brands are strongly impacted by changing consumer behaviours and expectations, but there is great potential to turn this into opportunity.
The grocery and non-grocery retail industries have been rated as the best performing sectors in customer experience (CX) in the Australian market, coming in at first and second places respectively in KPMG’s Customer Experience Excellent Report for 2018. Australians perceive these sectors as strong in the delivery of fast and efficient service and products.
In grocery, Australian consumers perceived beverage retailer Dan Murphy’s as the best performing CX brand, noting its light and open store layouts, vast product range, competitive prices, and friendly employees.
In non-grocery, hardware store Bunnings was rated as the best CX brand, exceeding expectations with its convenient store locations, parking, wide product range, and knowledgeable employees.
While these are positive examples, Australian brands must continue to adapt to fundamental changes in the market, driven by emerging technologies, lower barriers to entry, and international competition continually arriving in Australia.
They are also impacted by continually changing consumer trends, including:
Australian retailers can capitalise on this ever-changing landscape by building on their strengths and leveraging their knowledge of the Australian consumer to deliver exceptional, personalised customer experiences.
Here are some ways to stay a step ahead:
As consumer demands keep changing, new technologies emerge, and international retailers continue to cement their place in Australia, Australian retailers must be prepared to focus hard on customer experience excellence. Being aware of trends, and finding opportunity in those to surprise and delight customers, is a key step towards success.
After time in the spotlight, and facing new competitors, Financial Services companies have to be prepared to transform to remain relevant. Find out more in Great expectations on our financial institutions.