Sunday, May 31, 2020

New Study Reveals the Stats on Stress Shopping

Geoff Galat
July 24, 2018

2 minute read

The digital era has seen many brands focus on fostering a more personal and reciprocal relationship with their customers, yet many still fall short of the mark. Why? Well, often there is a disconnect between what the customer wants and what a brand thinks the customer wants. Such misunderstanding can mislead brands, hurting their CX strategies.

So how does this disconnect occur? And how can brands leverage customer emotions to enhance their CX strategies?

It’ll come as no surprise to learn that, to achieve their CX goals, marketers have become ever more reliant on data. The general view is that the more data you have on your audience, the better you know them. But this is where so many brands get led astray. It’s not about having access to more data, it’s about having access to the right data.

If your marketing department is focused on collecting email addresses and product preference data, while the purchasing patterns of your customers are being driven by emotion, then there’s an obvious disconnect.

Today’s customers are driven by a range of different emotions, being influenced by everything from hunger to boredom, to tiredness and stress.

Stats on stress shopping

The stats

A recent Clicktale research report, “Stress Shopping, The Relationship Between Stress and Shopping in the Age of Digital Experiences” reveals, for example, that young people (those aged 16–24 years) especially are likely to use shopping as a way to relieve stress, with 62% now stress shopping either on or offline — more than any other age group. The study also reveals that 46% of consumers shop to distract themselves when they’re hungry. So it may come as no surprise that 76% of retailers believe that consumers are fundamentally irrational in their purchase decisions.

So, if customers aren’t taking logical, repeatable steps when making their decisions — and if they’re being influenced by a variety of different emotions — how can brands claim to truly know what makes their customers tick?

A new generation of analytics

Rather than relying solely on facts and figures, marketers must start to think about how moods and emotions are influencing their customer decisions — and how the right environment (whether online, offline or on a mobile) can affect those emotions. By incorporating consumer psychology into their marketing efforts, more and more brands can get to know their customers on a human level.

When it comes to CX strategies, this will have a major impact on the way brands think about the experience they want to deliver. Where once MarTech solutions could only measure tangible figures such as click-throughs and conversion rates, a new generation of analytics solutions are helping to apply an emotional lens to customer journey data.

When it comes to leveraging emotions, with experience analytics, brands can develop an in-depth and emotional portrait of their customers, predicting and adapting to their moods and removing stressors as they move through a website or an app.

While data will continue to play a big role in marketing, for a truly great customer experience, brands need to stop thinking about their customers as simply numbers in a spreadsheet and start to put emotion at the heart of their CX strategies.

Geoff Galat, Clicktale
Geoff Galat
Geoff Galat is the CMO of Clicktale. Geoff has held leadership marketing roles at companies including Mercury Interactive, Luminate, Tumbleweed, and Tealeaf, which was acquired in 2012 by IBM. As Chief Marketing Officer of Tealeaf, he led creation of the new digital customer experience management strategic market category, focused on strategically enhancing the way consumers interact online using advanced analytics. Once Tealeaf was fully integrated into IBM, Geoff served as Chief Marketing Officer of another IBM acquisition, Silverpop. He subsequently headed marketing at a new venture of AGT International, serving as CMO of the entire company. by Oracle is the destination for professionals who are building the next generation of customer experience. Here, you can find breaking news, in-depth analyses, expert insights, and useful tools that will empower you to think and work progressively.