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Challenges in the Retail Market That a retailer's faces - Shamayun Miah

Author: Shamayun Miah
by Shamayun Miah
Posted: May 29, 2022
between online

When it comes to purchasing new luxury products, customers are no longer limited to just a few possibilities. They now have dozens. Hundreds, perhaps. In recent years, not only has the number of shops increased dramatically but so has the amount of information available to shoppers- Shamayun Miah.

Customers Prefer Multichannel Purchasing Experiences

With more comprehensive e-retail experiences accessible and shipping times drastically decreased, it's no surprise that nearly 96 percent of Americans purchase online in some form. However, traditional brick-and-mortar stores account for around 65 percent of those same Americans' entire buying budget.

In other words, even though practically everyone shops online, people shop in stores more often. Customers are easily transitioning between online and offline experiences, and they are open to shops that can help them do so. Because of the proliferation of mobile retail, in-store research, and showrooming — the practice of inspecting a thing in person before purchasing it online – is more common than ever.

Customers Expect a Smooth Experience

Customers expect not only the same products to be available when switching between online and in-store experiences, but also a seamless transition. This means that if they are a regular online customer, they expect to be treated as such when they visit a physical location. If somebody bought anything online earlier in the day, the in-store systems should already know about it.

Retailers may stop pitting their channels against one another if they can establish this type of seamless online/offline experience for their customers. Beginning with an easily accessible customer profile, centralized consumer data can assist merchants in creating a smooth, fluid experience.

Retailers require a unique experience to attract customer loyalty.

Customer experience is the most important component in determining brand loyalty, with a negative experience having the greatest impact on a customer's chance of returning. Remember that most customers assist others in their daily lives, so they want to feel significant while they're on the other side of the counter. Customers' previous purchases and interests can be used to help firms build loyalty.

A siloed marketing infrastructure makes getting your message across expensive and inconvenient.

Businesses must communicate with their clients across several platforms to succeed in modern marketing. Multi-channel communications, which include SMS, email, and social media, are critical for engagement, which leads to the construction of the ideal customer experience. However, with so many different channels, customer data can easily become segregated. Customers can become overwhelmed by conflicting or repeated messages if all the moving pieces of a marketing department are not communicating and working together smoothly. This barrage of marketing messages could easily have the opposite effect, driving customers to competitors that have a clearer and more consistent message- Shamayun Miah

Conclusion

Retailers can only hope to build buyer experiences that battle the fickle nature of the modern consumer by combining streamlined un-siloed data science, seamless cross-channel customer service and marketing, and true personalization.

About the Author

Shamayun Miah is a senior executive. He has advised clients on enterprise digital transformations with a focus on strategy, growth, and productivity. https://www.pinterest.co.uk/shamayun/

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Author: Shamayun Miah

Shamayun Miah

Member since: May 23, 2022
Published articles: 1

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