Bank Rails World Retail Congress
LONDON, Oct. 1 /PRNewswire/
The leading platform for embedded financial experiences, Railsbank, has partnered with the World Retail Congress to publish a report on the behavior and buying habits of four different consumer segments that have emerged in the wake of the coronavirus shutdowns.
The report, “Global View on New Consumer Personalities in Digital Retail,” identifies new types of consumers: digital newcomers, subscribers, ethical consumers, and thrill seekers. The report highlights significant shifts in consumer attitudes, as evidenced by 73% of the growth in retail Google searches in the UK can be attributed to new or rarely searched terms.
It also highlights different values in terms of customer demographics. For example, those who are new to online shopping generally prefer “traditional” retail brands over “progressive” or “bold” brands. Additionally, this shows how retailers keep pace with the changing expectations of these consumers and how they beat the competition in the online marketplace by offering differentiated e-commerce experiences. The full report is available here We hope you enjoy this show.
Nigel Verdon, Co-Founder and CEO of Railsbank, who presented the key findings at the World Retail Congress (5-7 April 2022):
“There are two main challenges for traditional stores and online retailers. First, now more than ever, it is about competing with original digital retailers in e-commerce for the new digitally savvy consumer. Second, it is about providing the consumer with an integrated experience in e-commerce and within The store knows, rewards and engages the consumer in-store and online. The background to all of this is clear. The Covid pandemic has accelerated the number of new consumers of digital experiences, which include not only the young but also the older generation.”
However, Verdon is confident about the future: “The future is bright for retailers building a 360-degree e-commerce and digital experience that puts the consumer first.”
Railsbank will also be attending the Retail Festival Australia, which will take place from April 11-14, 2022.
Information about Railsbank
Railsbank is the world’s largest embedded financial experience platform. The company believes that embedded financing represents a fundamentally different way of connecting business and consumers. He’s passionate about helping brands create meaningful financial experiences and drive customer engagement. Railsbank understands that consumers want rich and seamless experiences with brands and expect retailers to provide the best, most personalized and unique experiences.
Founded in 2016 and headquartered in London, Railsbank operates across the United Kingdom, Europe, Asia Pacific and the United States.
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