Being Consumer-Centric: A Retailer and Manufacturer Update, a new study by IDC Global Retail Insights and sponsored by Demandtec and Precima, found that companies are really seeing the benefits of being consumer focused. Consumer-centricity, as it is labeled, is a key factor of success in retail and this study proves there are more consumer-centric opportunities to drive business.
• 75% of retailers and 58% of consumer products manufacturers rank consumer-centricity as a top-three success factor.
• 80% of retailers and 67% of manufacturers expect to place an increased focus on it this year.
• The limited availability of team resources is the largest impediment to consumer-centric success for both retailers (37%) and manufacturers (43%).
• Lack of support and executive sponsorship is no longer a significant barrier for retailers (16%) with more than 75% retailers appointing a senior consumer-centricity role.
For the Brandweek article, go to: http://www.brandweek.com/bw/content_display/news-and-features/shopper-marketing/e3ie05a38638979f59e01422e81254e946c
For a complimentary executive summary of the survey, go to: http://www.demandtec.com/learning-center/whitepapers/idc_survey.php and fill out the form.