Communications service providers (CSPs) are navigating a new set of subscriber buying habits in retail.
Consumers who used to price-compare service plans and shop for a new device in-store are now researching new smartphone models online and asking friends for recommendations on social media. They’re also interacting with CSPs via chatbots and apps to ask questions and complete buying journeys. And those habits are here to stay. In fact, according to a 2021 international study, only 39% prefer to make a purchase in-store.
There’s another sea change to contend with, too: 56% of all generations are somewhat or very likely to switch from their current provider to a tech company like Google. Amid these stiff competitive headwinds, CSPs must reimagine the retail experience. They must create convenient omni-channel buying journeys, leverage the right digital tools, and use artificial intelligence (AI) to personalize offers and surface actionable insights.