Optimizing store performance and customer experience
One of the best things technology has done is enable retailers to know their business more intimately and make smarter, faster decisions. It has allowed retailers to provide their customers with effortless experiences and earn their loyalty.
Technology now provides retailers with data about customer behaviours and traffic patterns, inventory placement, and more. Thanks to this data, retailers gain a deeper understanding of customer preferences, merchandising placement, and employee performance to identify opportunities to strengthen the in-store customer experience—and ultimately, help to bolster business performance.
To be successful, it is critical to figure out how to engage with your customers in the way they want to. With so much technology available, understanding these wants and needs is easier than ever.
For example, personalization of products and services continues to be a hot retail trend, so by understanding if this is something your customer-base would be interested in by using the data you have, you can make the best decision for your store.
Having the opportunity to gather data through the use of technology can also allow you to focus on the customer’s intent beyond the transaction.
Knowing your customer’s patterns and purchasing habits can help provide a way to engage them beyond just a single transaction.
Utilizing the right technology does not mean you have every tool available. Being strategic and selective with right tools to your business needs will allow you to execute your strategy and meet your business goals.
Lisa Hutcheson is a retail consultant with a mission to help clients create a remarkable experience for their customers and extraordinary profits for their stakeholders. Her consulting practice provides clients with innovation and non-traditional retail strategy expertise as well as customer and employee engagement strategies. Hutcheson is also a frequent speaker on retail trends, customer experience, and best practices. She can be reached at lisa@lisahutcheson.ca.
