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Retailers failing to meets consumer needs says report

Nearly 60% of major retailers are failing to meet the needs of today’s “networked” customer, according to a report by Deloitte Consulting.

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LONDON (Brand Republic) - Nearly 60% of major retailers are failing to meet the needs of today’s “networked” customer, according to a report by Deloitte Consulting.

The report, Serving the Networked Consumer Study, says that of 125 retail companies interviewed, only 41% were truly focused towards today’s consumer and these companies were 88% more profitable.

The new breed of customer, according to Deloitte, carries out research about a product or service using a combination of the internet, television, telephone, catalogues and shop visits, before making a decision.

However, most companies do not have the ability to build and maintain relationships with customers over a variety of channels including the internet, says the report. “Consumer goods manufacturers must exploit the internet to build trust, strengthen consumer relationships and enhance the brand experience,” according to the report.

According to Deloitte, examples of manufacturers that extend the brand experience over the internet beyond product promotion include Frito-Lay and Unilever.

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