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.
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.
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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.
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Real-time inventory visibility: To prevent inefficiencies, you can leverage AI-backed solutions to track and manage your inventory.
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Automated checkout: Provide customers with the ability to complete their own transactions with automated checkouts and save time, space, and manpower costs.
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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.
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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.
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 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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