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5 Ways To Empower Customer Experience-Driven Retail

June 01, 2022 | 3 Minutes Reading

The retail space has always been competitive, but never more than today. These days customers are surrounded by shopping options - both in-store and online. What will differentiate a successful brand from an unsuccessful one will be the quality of experience they provide to their customers.

Customer experience is now the key differentiator for retailers. A study by American Express shows that 86% of customers are willing to pay more for a better customer experience and that happy customers are almost three times as likely to return to a store and make additional purchases.

5 Ways To Empower Customer Experience-Driven Retail

An enterprise-driven retailer forgets to put the customer first and instead focuses only on its structure and offerings. Whereas, a customer experience-driven retailer changes with evolving customer needs and continues to deliver relevant and engaging experiences.

Here are 5 ways you can empower customer experience in the retail sector.

#1 Invest in IT

The most crucial way to improve CX in retail is by investing in IT. The pandemic has changed buying behavior and customers are increasingly using the internet to shop, and technology will continue to revolutionize the shopping experience in the future. Having a reliable digital infrastructure has become business-critical. Here are some ways in which you can use technology solutions to provide your customers with engaging experiences. 

  • Switching to SD-WAN: By switching your network from WAN to SD-WAN, you can ensure smoother, faster, and cheaper connections to applications based in the cloud.

  • Real-time inventory visibility: To prevent inefficiencies, you can leverage AI-backed solutions to track and manage your inventory.

  • Automated checkout: Provide customers with the ability to complete their own transactions with automated checkouts and save time, space, and manpower costs.

  • Video analytics: AI-powered video analytics can help you analyze their operations and prevent issues from arising.

  • Internet of Things: You can use IoT for everything - from offering personalized discounts in-store to having shelves inform employees when they are running low on products.

  • Outsourcing Wi-Fi management to network experts: Leverage Managed Wi-Fi services so that you don’t have to employ dedicated human resources for installing, maintaining, and upgrading your Wi-Fi.

#2 Omnichannel stores

During the pandemic, almost all shopping went online. Now when customers return to stores, you will have to provide a frictionless path for the customer to go from online to offline. You need to bridge the gap between online and offline needs so that the customer journey remains consistent. 

Customers today can connect to your brand through more touchpoints than ever before. Omnichannel means the customer is met with a consistent brand experience across platforms. Not just products, but transactions, content, and conversations should also continue seamlessly from one channel to another. For example, a customer places a coffee order on their app and collects it at the store without difficulty.

Here, services like appointment-driven shopping, mobile checkout, self-scanning, and click-and-collect all come into play and blend the physical and digital worlds. And although these services are not new, they are being utilized more and more.

#3 Location-based services

If you are looking for new ways to engage shoppers and create a unique shopping experience, you can create a location-based retail experience. A location-based service uses geographical data and location information to provide services to users. By using location-based technology, you can offer customized recommendations, discounts, and even in-store navigation to your shoppers. This helps to create a more seamless and convenient shopping experience that can ultimately lead to increased sales, whether the customer accesses your store through their phone screen or at a mall.

You can leverage mobile app check-ins where customers take appointments and queue up virtually instead of physically being there. When in-store, the customers can be provided with personalized discounts and greetings that recognize where they are and what they are looking for. There are boundless possibilities for being creative with these capabilities. As technology continues to develop, it is likely that location-based retail experiences will become even more common.

#4 Leverage data analytics

The scope for using data analytics to power CX in retail is vast. Data can help you understand consumer behavior and optimize your business for each customer so that you can deliver rich experiences designed to retain them.

Data analytics can be used to personalize the customer experience in retail. It can provide holistic insights that can be integrated into the system and make real-time adjustments to the customer journey. For example, you can target your marketing campaigns to drive engagement and conversions and reward loyal customers with personalized discounts when they are shopping.

You can leverage your business data to analyze real-time traffic at a store that can help your business spot trends and plan inventory. It can also help avoid system blockages and bottlenecks and keep running smoothly.

#5 AI and automation

Increasingly, companies are using AI and machine learning for customer service. Chatbots, ubiquitously found on internet shops are powered by AI and can help solve problems and answer questions in real-time. Retailers are also employing video analytics to integrate with closed-circuit video feeds and analyze operations. 

AI enables you to automate retail operations such as loading/unloading of products, parking management, temperature and mask detection for health safety, etc. Automation proves to be highly cost-effective for your business as it eliminates the need to employ help assistants at every touchpoint. With AI at the helm of your digital retail operations, you can make your retail processes highly time-efficient, enhance CX, and boost your ROI.

These AI-driven systems can identify issues and prevent them automatically. By preventing crowding at a store through video analytics or troubleshooting a network issue before it affects the customer experience in retail, they remove the need for on-site teams working round-the-clock monitoring systems.

A lot of ground-breaking and innovative solutions work is being developed in the field of AI, and future applications of this technology in the world of retail look promising.

Evolving into an experience-centric company

The pandemic derailed entire industries and proved that anything could happen. And while businesses might not know what the future holds, the key is to be agile and ready to tackle whatever challenges may come. Investing in and integrating IT into retail spaces is not only important but critical for forward-looking businesses. The need for seamless and innovative tech solutions is important to power customer experience in the retail sector.

Spectra’s customized retail solutions help you build a strong IT foundation at your store. Our network and Video Analytics solution provides you with a holistic way to improve customer experience. Transform your company into a customer experience-centered and future-ready brand. Connect with our consultant at spectra.co






 

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  • Managed Services
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