In a highly competitive retail environment with endless choice of merchandise, channels and experiences for every buyer, inspiring brand loyalty is the topmost priority. Successful retailers are leveraging digital technology to help them customize, differentiate, and enhance the customer journey. But in reality, it is not just about the customer’s experience. Modern technologies have transformed business operations right from the manufacturing plant to the store shelf and through every step in between.
Retail customers everywhere, especially in the USA, have growing expectations of the sellers, and if they are not fulfilled, they will switch to a competitor at the drop of a hat. Digital technologies offer a variety of cutting-edge advantages that enhance the customers’ buying experience, these include:
- Omni channel customer experience
- Loyalty and personalized promotions
- Purchase online, pick up in-store
- Comprehensive tracking experience
- Inventory visibility and control
- Seamless customer service
In Focus – Personalized Customer Experience
Today, customers want enterprises to treat them as a unique individual, and learn their personal preferences and purchase history. In a study conducted by Accenture, 75% of customers prefer to purchase from a company that is able to:
- Identifies customers as unique persons and understand their preferences
- Recommends products based on past purchases
The good news is that customers are more willing to share data with trusted enterprises in exchange for truly enhanced personalized experiences. For retailers who want to leverage this opportunity, investment in a robust Customer Data Platform (CDP) is highly recommended. Without a well-oiled CDP, it is near impossible for retailers to identify and treat customers as individuals. It helps stitch customer identities from different channels into a single golden customer master record using Machine Learning models for identity resolution. Also, a history of past interactions and how your business interacts with them, is critical to offer a unique experience. A bespoke CDP solution like the one Rysun delivered for one it’s marquee customers – can deliver a significant boost to the retail topline.
Find out how a leading Furniture retailer in US & Canada has improved Net Promoter Score (NPS) with Rysun’s CDP solution
Beacons at the store entrances picks up on customers in the proximity of the store, allowing retailers to push bespoke offers in the moment on the basis of their past purchase. Smart dressing rooms like the ones at Ralph Lauren’s flagship store in New York City, not only allows trying various colors for a particular outfit, but they also enable their customers to adjust the lighting for different times of the day. If any customer needs a different size for an outfit, all they have to do is choose the option they want. Items that match with outfits a customer is trying on also appear in the mirror, encouraging an upsell. Items not purchased can be directly sent to the customers’ Wish list or Save for later section.
The options for retailers to integrate digital transformation solutions in the customer’s journey are numerous. The right application of retail technology can enhance the shopping experience for customers to the maximum. Similarly, the opportunities for performance improvement behind the counter are equally exciting, from increasing efficiencies, streamlining inventory, to boosting profits, and promoting brand loyalty. Here are some of the data-led digital innovation benefits that retailers can gain:
- Customer loyalty and advocacy
- Store associates’ productivity and performance
- Predictive inventory and demand forecasting
- Supply chain optimization and logistics management
- In-store product placement optimization
- Product traceability and inventory accuracy and visibility
In today’s evolving world, with the always connected consumers and always on customer journeys, brands are recognizing the importance of implementing a digital transformation strategy, if they haven’t already. Digital transformation provides retailers and brands great opportunities to create top of the mind recall for attracting modern buyers, and deliver on their expectations of a seamless customer experience despite the form and channel of engagement. For the retailers who are looking for a reliable retail technology solutions provider in the USA or Canada, Rysun can be the best retail consulting partner. For more than two decades, Rysun has been helping retailers from all over the globe to adopt the best cutting-edge technologies and tools in their business and enhance the customer experience for improving key business growth indicators like Customer Lifetime Value, Net Promoter Score, Average Order Value, Cost of Customer Acquisition and more.
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