Customer Service
As we live and breathe in the age of technology, retailers look to compete in customer service by adding new technology into the infrastructure. Technology promises to eliminate friction, deepen customer engagement, uncover insights, and automate processes. In fact, one could argue that artificial intelligence (AI) is reviving retail. Take chatbot-based interactions for retail sales,โฆ
Would you appeal to more consumers if you eliminated a large portion of your inventory? Thatโs exactly what Petco is doing. Petco announced that as of May 1, 2019, it will be the first major pet food retailer to sell only pet food without artificial ingredients. This bold move puts Petcoโs brand ethos at the forefront and appealsโฆ
Good customer service is a core driver of retention, as 75 percent of consumers would stop doing business with a brand if they had a bad experience or received poor customer support. According to a recent Gartner report, on average, 18 percent of total marketing budgets is spent on customer experience (CX) initiatives, and CX,โฆ
With the importance of customer experience (CX) firmly entrenched in their psyche, most successful retailers now understand that if they want to retain customers long term, they need to think about what happens after shoppers hand over their credit card numbers. These retailers get that they need to think about customer journeys and not one-offโฆ
Todayโs consumers are wary of shopping experiences that feel one-sided. They donโt just want to make informed decisions; they also want to trust the brands and retailers they choose. They want shopping to feel more like a human connection, not just a transaction. Every company wants to be known for having a superior customer experience.โฆ
One of the biggest challenges for retailers is not acquiring customers, but keeping them. Loyal brand ambassadors are the backbone of growth. However, building long-term interest in a brand is no easy feat. Customers want personalized experiences and services that make them feel that they are the most important customer. A 2018 Bond Brand Loyaltyโฆ
Good relationships, including the ones between a business and its customers, are built on trust. Consumers need to feel confident that they're being told the truth and that a companyโs products will match up to its claims. Furthermore, in todayโs cyber society, many customers are highly concerned about the safety and security of their privateโฆ
If we learned anything from past retail trends, itโs that the store is still the most important part of the retail experience. Interest in the brick-and-mortar store is everywhere. Targetโs CEO has said that the company's stores are its single biggest competitive advantage. Retailers must continue to keep their focus on the store by ensuringโฆ
Retail has always been a tough game, and increasing demands on brick-and-mortar to differentiate from e-commerce has only made it harder. With more options than ever before, consumers have their pick of the litter, online and offline. Bad experience at one store? Plenty more to try instead. But what drives away customers? Qualtrics recently conductedโฆ
Digitization is occurring at such a rapid pace that many industries are finding it hard to keep up with how quickly customers are adopting new technologies. The retail industry is no exception. The question retailers must face is how can they keep up with the trend of an ever-evolving technology landscape, while still providing customersโฆ