SÃO PAULO--(BUSINESS WIRE)--Global market research company Euromonitor International presented a new analysis, “Retail in the Age of the Empowered Consumer,” at the Latam Retail Show, the leading retail event in Latin America.
The new research identifies a new consumer type who will change the future of the global retail landscape – armed with technology, the Empowered Consumer reads and writes product or service reviews, compares prices online, and interacts with companies via social media. 26 percent of consumers worldwide are Empowered Consumers. Of these, 52 percent are under the age of 35. Their young age indicates that their behaviors will continue as they age and will influence their children, the next generation of consumers.
“Convenience is important in Empowered Consumers’ shopping experience. They prefer internet-enabled devices to make their purchase, as 74 percent of them make their purchases through smartphones versus 44 percent of non-Empowered Consumers,” comments Michelle Grant, head of retailing at Euromonitor International. “They enjoy the ability to save time and order at anytime from anywhere. They also expect the same shopping experience in whichever way they choose to purchase, thus retailers must embrace omnichannel retailing to meet these needs.”
Empowered Consumers are five times more likely to write a product or service review than the non-Empowered Consumers, so companies that cannot meet the Empowered Consumer’s expectations may suffer consequences even after purchase completion.
“Brands and retailers no longer control the information available about their products. Empowered Consumers can be your best customers and brand ambassadors, or they can be your worst nightmare, spreading negativity about your company,” concludes Grant.
To download the presentation, please visit: http://bit.ly/emi_empoweredconsumers
ABOUT EUROMONITOR INTERNATIONAL
Euromonitor International is the world’s leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.
