Retail businesses are experiencing some heartache. But, there are some that are managing to get it right. The foundation of their success is creating a customer journey or experience.
CMO.com focuses on five retailers that have captured their customer's needs and desires in a way that drives sales. Buried in these case studies are some lessons that can be translated to the home buying or rent experience.
It used to be when consumers needed a stove, they went to the local appliance store. When their kids outgrew their school clothes, they headed straight to the department store. Out of bread or milk? They were off to the grocery store. That was that, and no other options were as convenient.
Fast forward a few decades, and now consumers have many more choices about what they buy, how they buy, and who they buy from. That same stove can be bought at Lowe’s, online, or in-store. It’s also available from Overstock.com, Wayfair.com, and Amazon—the list goes on. On top of that, today’s consumers aren’t as price-conscious as previous generations, making it even harder for brands to stand out.
According to Galia Reichenstein, general manager, U.S., at mobile adtech company Taptica, retail has hit another “crisis point, with waves of store closings.” Indeed, retailers including JCPenney, GameStop, and Bebe have all been in the news lately, with stores closing across the country.
“Customer experience is key to turning the corner on this trend,” Reichenstein told CMO.com. “Customers still want to shop today, but they want to do so on their own terms and in a way that is most convenient for them. CX allows retailers to dig a little deeper and further develop a relationship with consumers.”
Michael Klein, director of industry strategy and marketing for retail, travel, and CPG at Adobe (CMO.com’s parent company), agreed that retailers are no longer in the business of just selling products.
“From a retail perspective, it's going to be about the ability to deliver a seamless, more frictionless experience that will bring value to the customer,” he said.Read More