This article is brought to you by Retail Technology Review: 9th Annual POS Benchmarking Survey January 2008.
What Do Customers Really Want?
Todays retail environment changes, evolves, and becomes more complex on a daily basis. Customers possess the ability to research and understand more product, brand, and pricing information than associates in the store who are actually tasked with selling the product. Customers demand information, knowledge, and assistance at all hours of the day. And if the store down the street wont help them, theyll go online and find a local or global retailer to meet their needs. In addition to the speed and convenience offered by the Internet, it provides customers flexibility and offers them responsiveness during the shopping experience.
Customers expect more, demand more, and ultimately reward those retailers who meet and exceed those expectations. So, a retailer is faced with the question How do I meet my customers expectations while improving overall shareholder value and, more importantly, continue to evolve to meet these ever-changing needs?
High-growth, successful retailers answer that question by:
Clearly defining their customer value proposition and creating the processes necessary to support this proposition to ensure that the customers needs are being met and exceeded.
Understanding that the store associates are the differentiator that can drive retail success, and utilizing training to ensure that their associates have the knowledge needed to enhance the customer experience.
Realizing that customers need to feel they can trust the retailer, so retailers must ensure that their customers personal information is secure.
Best-in-class retailers are focusing on the tools they need to differentiate themselves from the competition while continuing to satisfy and delight their customers. As customers demand more, retailers are answering these demands by offering multiple channels from which to shop, plus the breadth, depth, and availability of products that customers expect. Also, retailers are enhancing the customer/associate relationship by offering tools to enhance the shopping experience, such as kiosks, self-service technologies, and mobile solutions. Lastly, retailers are ensuring stores have the tools necessary to manage and empower the associates in the store to create that competitive advantage and succeed in this complex environment.
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