Exemplifying with TV purchase experience
The overall purchase experience for discretionary products such as TVs – particularly for high-end / flagship models – hasn’t quite changed much over the years… entailing –
Shoppers walking into their nearest retailer / clicking online ➜ viewing in-store demo (model comparison) ➜ selecting the right TV ➜ haggling / price matching (if applicable) ➜ paying by cash/credit card/ 3rd party finance ➜ maybe choosing the optional extended warranty ➜ disappearing into the sunset (for the next 5 – 8 years or until the TV breaks down beyond repair or an un-passable offer in a future ad-circular takes hold over the senses)
Although this purchase experience works well for the most part; there are 3 notable challenges value-chain players face with this type of a sales model