The changing economy has given rise to the smarter consumer — one who uses

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technology to make more informed buying decisions, exchange information with peers, make purchases on-the-go and shop across multiple channels, a new IBM global survey has found.

At the same time, the increased use of technology has empowered consumers to become more vocal and demanding about their wants and needs, the survey of over 32,000 global consumers found.

Not only are consumers becoming more demanding, they are also more enthusiastic to help. Seventy-nine per cent of the respondents said they want to work with retailers for co-designing new products and services that better meets their personal needs, the survey showed.

Consumers in India, China and Brazil, are almost twice as willing to use multiple technologies for making purchases. This is primarily because the uptake of new technologies is often faster in emerging countries.

The study also revealed that while shoppers are showing increased demand for multiple technology channels, they want to use different technologies for different activities.

Seventy-five percent want to use mobile phones to find out where the nearest store is located, the survey shows.

According to the consumers, the top areas of improvement for retailers were around delivering customised promotions and ensuring product availability. Also, around 61 per cent of respondents said they would spend more with a retailer if they got these two areas right.

“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,” Puleri said.

While IBM’s analysis shows consumers are increasingly using technologies to interact both with retailers and other consumers and are wanting to work with retailers for co-designing new products, this trend is even more pronounced in growing markets, survey said.