Consumers want online retailers to be more interactive and offer more personalization features according to a new a survey from IBM.
The changing economy has led to a smarter consumer who uses technology to make more informed buying decisions, exchange information with others, make purchases on-the-go and shop multiple channels.
More than three-quarters (79%) of consumers want to use websites to access and print coupons, while 75 percent want to use mobile phones to find out where the nearest store is located and 66 percent want to see what items are in stock before going to a store.
"We are in a shopper's market today, because consumer access to technology and information gives them all the power," said Jill Puleri, IBM Global Industry Retail Executive, IBM Global Business Services.
"Retailers cannot afford to sit still as this digital revolution happens. They must engage plugged-in consumers in new and different ways, on their terms, and with more bi-directional feedback and dialogue."
From the consumer's point of view, the top areas of improvement for online retailers were around offering customized promotions and ensuring product availability. More than half (61%) of respondents said they would spend more with a retailer if they got these two areas right.
While IBM's analysis found that consumers are increasingly ready to use technologies to interact with retailers and with other consumers, this trend is even more pronounced in growth markets. Consumers in India, China and Brazil, are almost twice as willing to use multiple technologies for shopping and making purchases. This is mainly because the adoption of new technologies is often faster in emerging countries.