Retailers are struggling to manage the business information and content most predictive of consumer intent and customer acquisition, according to a study by Synup, New York.
People in large part are leaving traditional media and websites behind, with 77% of consumers placing significant weight on a retailer's visibility and accuracy across digital media platforms. Consumers also report a reliance on business content, with 94% saying real-time product inventory is critical when choosing a retailer.
In addition, the study found that user-generated ratings and reviews play a major role in customer acquisition, with 82% of respondents indicating they would not choose a business with a rating of fewer than three stars on media channels like Google, Facebook, or Yelp. Twenty-nine percent require a rating of four or more stars.
"Consumer behavior has changed rapidly in recent years, and the impact on retailers has been transformative," says Ashwin Ramesh, CEO of Synup. "People are no longer choosing retailers based on a company website or traditional media. Instead, they're engaging with third-party digital profiles that are increasingly defining retail brand identity, and they're doing it from smartphones and a growing range of connected devices and media channels."
The study found that 71 % of consumers have encountered inaccurate information on platforms like search engines, map apps, social media, and review sites when searching for retailers. With 71 % of people reporting that they discover local businesses on map...