In online retail, winning is everything. Fixed costs may be low but fierce price competition means thin margins which require massive volumes to deliver a profit. With customers able to easily shop around online to find the best deals on the products they want, there’s little value in being their second choice.
So who are the winners today and how can you ensure your business is one of the front-runners in the future? How satisfied are customers with what you and your competitors offer? And, in customers’ eyes, how do multichannel retailers compare with those who operate purely online?
This article shows how the Oliver Wyman Customer Perception Mapping tool can identify winners and losers and how a Customer Perception Map can be used to inform a winning customer proposition for the online business.
