Consumer expectations are constantly evolving. Retailers need to build a sophisticated understanding of how consumers live, eat, shop, work, and play — and use this knowledge to provide value in the right place and at the right time to unlock long-term loyalty.

Opportunities exist across the experience spectrum, whether in lowercase “e” experiences that remove friction from digital and in-store channels or uppercase “E” Experiences that engage consumers with personalization and value both when they expect it and when they don’t.

Customers who receive a great experience report having:

As consumers gravitate toward brands that focus on experience across each individual’s unique journey, retailers will have to find innovative ways to deliver value across the spectrum of convenience-led to enrichment-led experiences. What are those? Learn how we can help you move toward an experience-led strategy. 

What consumers want across the retail experience spectrum

For “Experiences”

Consumers want an experience that is frictionless and convenient, provides the right product at the right place, and enables consumer safety.

intend to spend more on experiences. ²
are visiting stores less frequently. ²
will order online and pick up in-store more often. ²
intend to use voice assistants more often to make purchases. ²
use a smartphone to browse or shop online. ²

For “Experiences”

Consumers seek contextually relevant experiences that are seamlessly tailored to each consumer’s unique preferences and needs and enable the option to have shared shopping experiences.

intend to spend more on experiences. ²
will do more shopping online and only visit stores that provide great experiences. ²
would share personal data for tailored online experiences. ²

Mapping opportunities along the retail experience spectrum

We now explore how retailers and brands are bringing (e)xperiences and (E)xperiences to life

Woman paying at retail store

The team

Isaac Krakovsky

EY Americas Consulting Retail Sector Leader
Advising the retail, consumer and private equity industries for over 30 years. Passionate about leading teams, business transformation, family, skiing and golf.
New York, USA

Ashley Costa

Principal, EY-Parthenon, Ernst & Young LLP
Focused on establishing an inspirational vision of what tomorrow holds. Adept in building enterprise growth strategies, reinventing business models and galvanizing people to take bold action.
Philadelphia, USA

Nelson Ho

EY-Parthenon Senior Director, Strategy and Transactions
Experienced leader in the consumer products and retail sector. Passionate about transforming supply chains and omnichannel operations. Avid traveler. Husband and dog dad.
Charlotte, USA

Mehrdad Moghaddam

Senior Director, Corporate and Growth Strategy, EY-Parthenon, Ernst & Young LLP
Passionate about driving innovation and next generation experiences for retailers and direct-to-consumer brands. Foodie, electronic music aficionado and emerging market enthusiast.
New York, USA

How EY can help

The authors wish to thank Neera Majumdar for her contribution.

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