Despite the heatwave encouraging a boost in retail sales in July by 0.3%, consumer confidence has hit a record low. Trading will undoubtedly become more difficult as consumers prioritise spending on essentials. There will be a strong focus from retailers on improving costs and efficiencies to ensure consumers are getting the best price, while still operating as profitable businesses.
But quality customer experiences (CX) cannot be overlooked. Brands must remember that good CX is based on trust and authenticity and right now, consumers need this more than ever. There is huge value in embracing the empathy and judgement of humans while enhancing it with the speed, scale, and cost savings of AI. Amid further economic instability, this is how businesses can deliver customer interactions that reduce frustrations while maintaining their authenticity and reliability.