Welcome!

News Feed Item

New IBM Studies Reveal Brands Struggle to Meet Demands of Today's Consumers Including Members of Generation Z

98 Percent of Gen Zers with a Buying Power of $44 Billion Still Shop in-Store

ARMONK, N.Y., Jan. 12, 2017 /PRNewswire/ -- Retailers are grappling to meet the demands of consumers and must transform quickly to inspire loyalty with customers who are hopping from store to web to mobile to social, and back again, according to new research from IBM (NYSE:IBM).

IBM's IBV study of 15,000 Generation Z shoppers, which represent $44 Billion in estimated buying power, found the following:

  • Despite living largely digital lives, 67 percent of Generation Z prefer to shop in a brick-and-mortar store all the time, with another 31 percent preferring to shop in-store sometimes.
  • 66 percent frequently use more than one device and 60 percent will not use an app or website if they are too slow to load.
  • Gen Zers demand highly personalized interactions, value quality over price and want to be engaged with the brand across all channels.

IBM's new Customer Experience study of more than 500 brands in 24 countries shows that despite changing customer demands, businesses are struggling to deliver on the expectations of consumers. The research shows:

  • Only 19 percent of retailers can provide a highly personalized digital shopping experience
  • A mere 17 percent can provide more than in stock/out of stock information.
  • 84 percent did not offer any in-store mobile services.

This gap between what consumers demand and what brands can deliver requires cognitive capabilities that allow retailers to take information from all types of engagement, quickly act across multiple channels and change the rules of engagement. IBM's cloud-based cognitive solutions can examine customer data and combine it with data on other critical factors such as weather patterns, pricing trends, buying behaviors, and supplier availability to deliver personalized experiences that customer demand. 

"In this new era of customer engagement, what will separate the winners from everyone else is a differentiated brand experience that delivers high impact engagements with compelling personalization regardless of where the customer is," said Harriet Green, General Manager of IBM Watson Customer Engagement. "With Watson Cognitive Engagement solutions, IBM is working with retailers across globe to make these experiences a reality for millions of consumers."

IBM Watson Customer Engagement is helping leading retailers drive enduring brand loyalty with their customers:

  • HSN, Inc.: HSN, Inc. is comprised of a portfolio of brands that offer innovative, differentiated experiences on TV, online, via mobile devices, in catalogs, and in brick and mortar stores. One of its operating segments, leading direct-to-consumer retailer HSN, uses Watson Marketing to enhance its commitment to delivering a personal and customized cross-platform customer experience. By leveraging IBM's cognitive marketing capabilities to gather data and uncover insights, HSN is able to create meaningful relationships that improve customer engagement and enhance loyalty.
  • Ermes: The Ermes Group, the largest and most diversified retailer in Cyprus, is using IBM's cloud-based Watson Commerce pricing optimization solutions to determine which specific products in each store should be marked down due to stagnant sales, what the new price should be and when the reduction should take place. As a result, Ermes can introduce product markdowns at a price that resonates with the needs of value-seeking customers while contributing to the profits for most of its key retail locations. Since going live with IBM, Ermes has significantly streamlined its retail pricing strategy while increasing profits.
  • 1-800 FLOWERS.COM: GWYN (Gifts when you Need) is a Watson powered gift concierge. Since launching GWYN less than a year ago, 1-800 Flowers.com has noticed a distinct change in customer behavior. There has been a measurable increase in customer engagement that comes from GWYN helping to find the perfect gift across the company's family of brands. Because of the value GWYN provides, consumers are willing to devote more time to the process, asking on average five questions per session and interacting with GWYN for more than two minutes. 80% of consumers who tried GWYN said they would use the service again.

IBM Watson Customer Engagement

IBM powers a full spectrum of cognitive engagement offerings delivered as a service and on premise for thousands of retailers worldwide including: Amadori Group, American Eagle Outfitters, Boots, Ermes, hhgregg, Luxottica, Moosejaw Mountaineering, Office Brands, Performance Bicycle, REI, Sherwin Williams , The Clorox Company, The North Face, The Works UK,  and William Sonoma. You can hear more about how the Home Depot and Luxottica are using IBM Watson Customer Engagement solutions from a recent panel discussion with IBM's Harriet Green.

For more information follow us at @IBMforMarketing or @IBMCommerce and #WatsonCE. 

About IBM Institute for Business Value
For more information, http://www.ibm.com/iibv 
Download the IBM IBV app from iTunes and Android Market

1. IDG: New Research Shows Brands Struggle with Online Commerce Even as Its Importance Grows

2.  https://www.entrepreneur.com/article/238998

3. http://www.marketwired.com/press-release/deep-focus-cassandra-report-gen-z-uncovers-massive-attitude-shifts-toward-money-work-2004889.htm

Media Contacts: 
Doug Fraim 
IBM Media Relations 
+1 617-501-6376 
[email protected]

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/new-ibm-studies-reveal-brands-struggle-to-meet-demands-of-todays-consumers-including-members-of-generation-z-300390130.html

SOURCE IBM

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.