CommBank’s Retail Insights Report provides an in-depth analysis of the state of the Australian retail sector.
The report draws insight from wide-ranging surveys of more than 380 retailers and 1,000 consumers around Australia, focusing on business intentions for the coming year, and the impact of customer experience, loyalty programs and personalisation on behaviours and business performance.
CommBank’s research has uncovered some surprising findings about retailers with higher numbers of female executives. The report shows that:
- Retailers who provide an extremely good customer experience have an average of 47% female executives, compared to just 35% among those businesses where customer experience is poor.
- 83% of retailers say customer experience is very important to business strategy. Yet, only 30% rate their customer experience > 9/10.
- 58% of shoppers say retail businesses should do more to personalise their shopping experience. 74% also agree they will stay loyal to a business that personalises their experience.
Download the full report here.