Retailers must be more customer-centric to survive.

How retailers can transform their operations to become shopper-first organizations and serve as a handy one-stop-shop for customers.

FREMONT, CA: Retailers in the Asia Pacific and around the world must accelerate their digital transformation efforts as the majority of life has shifted online. Tyler Munoz, a partner at Publicis Sapient, explains how retailers can become more customer-centric. The difficulty of accessing brick-and-mortar establishments has been worsened by frequent intermittent lockdowns and movement restrictions, culminating in an e-commerce boom. According to Publicis Sapient's Digital Life Index 2021, more than two out of every five shoppers in Singapore and Thailand purchase online on a weekly basis.

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Meanwhile, a recent analysis by Bain & Company and Facebook revealed that since the pandemic began, an estimated 70 million additional individuals in Southeast Asia had purchased online, with the region's digital consumers expected to exceed 350 million by the end of 2022. With changing consumer priorities and habits, it's more critical than ever for retailers to think about how they can fit new customer requirements and expectations into their existing business models. Retailers who want to change their businesses into shopper-first organizations should reinvent their businesses for the new age of retail.

Today's retailers are diversifying their offerings to include community, content, and a wider range of products. Retailers should consider creating a connected ecosystem of related services that customers can engage with through one seamless experience since consumers want purchases to be convenient, effortless, and pleasant from beginning to end. Retailers could also establish value-enhancing, specialized ecosystems to supply a variety of things relevant to their category, which can serve as a handy one-stop-shop for customers. Consumers will be able to handle numerous needs in one place, rather than bouncing from website to website as retailers become their go-to destination for owned items, content consumption, and supplementary services – all of which will drive loyalty, greater basket sizes, and repeat purchasing