Today’s retail environment is more challenging now than ever before. With less spending dollars
available, consumers are even more focused on researching the products, brands, and services available
to them. This, in turn, leads to higher consumer demands and expectations from retailers.
So, how can successful retailers survive and, more importantly, thrive in this challenging environment?
The most successful retailers focus on the customer experience to continue to attract customers.
Some of the ways the Top 100 Retailers are thriving in this environment include focusing on:
Associates – Enhancing the overall customer experience starts with the associates with nearly 90% of retailers providing training to their associates.
Products – Nearly three-quarters of the retailers indicate that their customers find product
assortment and in-stock position to be the most valuable parts of the shopping experience.
Technology – Two-thirds of the retailers have changed or upgraded their technology within the past two years to enhance the levels of service in the store.
Creativity – “Non-traditional” methods of marketing such as blogs and YouTube videos are being utilized by nearly half of the retailers to creatively target customers.
The key for each retailer’s success is to ensure that they know who their customer is and then create a
clear customer service strategy to align the associates, merchandise, processes, and technology to
support the overall strategy. The best-in-class retailers find creative ways to ensure that their current customers remain loyal and continue shopping, even in these challenging economic times.
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