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Service Execution to Dominate Consumer Expectations in 2H 2008
Associates Interactive predicts what CE retailers should expect during the remainder of 2008
After analyzing a myriad of consumer electronics predictions made at the beginning of 2008, Associates Interactive, experts in training retail sales associates, has recognized that the drastic shift in the economy has impacted the way that consumers are thinking about their electronics spending. As a result, previously made predictions now fall short when forecasting what is in store for the rest of this year. Therefore, Associates Interactive offers its guidance on what CE retailers can expect for the balance of 2008, especially leading up to the busy holiday buying season.
Associates Interactive forecasts the following trends will have a major impact on the retail market as 2008 comes to a close:
Renewed focus on installation and in-home services: The growth of complicated consumer electronics products has generated a new focus on in-home services. As consumers find themselves unable to overcome the complexities of the latest technologies, they will continue to turn to experts for assistance. While many service providers are attempting to catch up, two factors have not yet been solved, making this market a wide-open race – 1) the consumer value proposition and 2) the retailer’s ability to bridge the in-store and in-home experience. The store associate is critical to resolving both issues.
Customer service to govern sales growth: Although recent economic conditions have turned considerable focus toward the costs of each purchase, as prices across retailers and channels become more consistent, the contribution of customer service to the value proposition becomes more distinct. Associates Interactive expects to see greater focus on service quality and anticipates that consumers will reward those retailers that meet this challenge.
Major shifts in shopping patterns will occur: The current economic conditions, particularly rising gasoline prices, are a catalyst to altering some consumer behavior patterns. For the balance of 2008, Associates Interactive expects to witness a significant paradigm shift as consumers rewrite their habits and adjust their shopping preferences.
Green priorities take center stage: Environmentally sensitive products and programs will be one of the beneficiaries of this pattern shift. Recent environmental awareness campaigns and media attention have increased the value consumers place on green programs. In fact, more than two-thirds of Americans consider a company’s business practices when deciding what to buy. With other behavior patterns changing, Associates Interactive believes that consumers will be more influenced by green considerations than ever before.
Home entertainment upgrades will be accelerated: Associates Interactive expects to see consumers place greater value and emphasis on the quality of their home entertainment systems during the remainder of 2008. Well-publicized issues, such as the cost of travel and the February 2009 digital television transition, are highlighting the value and convenience of an in-home experience.
Digital content delivery to emerge: Broadband Internet is coming into maturity as a content delivery channel and its arrival will trigger new thinking about how Americans receive their information and entertainment. Smart phones, personal navigation devices, laptops and gaming systems are particularly well positioned to benefit from this opportunity. Whether a major shift occurs before the holidays or not, Associates Interactive believes consumers will intuitively understand this trend and will alter purchase patterns accordingly.
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Executive quote
“Consumer behavior is rapidly changing. Their spending habits aren’t what they’ve been in the past so it is critical that pre-sale customer service play an expanded role for retail stores looking to see a profitable second half of 2008,” said Bob Richardson, president and CEO of Associates Interactive. “Staying ahead of changing consumer demands requires informed and knowledgeable associates who can provide courteous pre-sale consultation without being pushy or invasive.”
About the company
Associates Interactive develops training content, courses, exercises, tests and certifications used to train retail sales associates. The company is addressing the market demand for effective training material that has an immediate and sustained impact on associate behavior and sales results. The independently developed training program, called RetailAI™, better integrates products from multiple manufacturers in the sales discussion, ultimately increasing overall sales for the retailer. More information on Associates Interactive can be found at www.associatesinteractive.com.
Contact details
Melanie Wehrman
LEWIS PR for Associates Interactive
408-573-3665
associatesinteractive@lewispr.com
Technorati tags: 2008 Consumer Trends | Retail Predictions |
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