Research is showing a significant shift in how retailers must differentiate from competitors in order to earn and keep loyal customers. The sudden rise of social media, online personalization, location-based services and connected devices has led to what Revel has declared “The Age of Experience.” It was preceded by the Age of Manufacturing, Age of Distribution and most recently the Age of Information ‑ in which the Internet made gathering, mining and sharing customer data easy, inexpensive and ubiquitous.
The Age of Experience is revolutionizing the way retailers must think about engaging with customers. Data and research demonstrates an engaging, intuitive customer experience drives increased loyalty and a rise in perceived value. And, surveys show customers are willing to pay a premium for a better customer experience.