With all the different stimuli, options, mediums and content that customers are receiving daily, companies are searching for better ways to connect and engage with their audience. By some estimates, individuals are now exposed to over 5,000 advertisements in just a single day. So how best to reach customers with rich, relevant experiences that cut through the clutter and engage with individuals on a more interpersonal level? The answer is personalization.
Retail success in 2017 will include customer centricity and omnichannel capabilities.
Customer centricity doesn’t mean putting the customer in the brand’s bullseye. It means seeing the brand from each customer’s point of view. Whether she sees your store, website, Pinterest page, email, catalog or any other exposure, she needs to see one brand, not individual channels. Omnichannel capabilities means making all channels look like one.
The existing system was antiquated and the team was challenged regularly to keep all systems available. Orders couldn’t be processed until later in the day. With plans to continue opening 15 stores a year, Paper Source couldn’t continue to rely on the outmoded system.
If this sounds familiar, then keep reading to find out how through the process of investigating POS solutions, Paper Source realized it needed much more than that.
Whether it’s partnering, testing or planning; we have found that highly innovative retailer leaders follow these common, core principles when it comes to the cultural changes necessary to keep their innovative companies in motion.
Looking back at hundreds of retailers, ranging from startups to the largest global brands, our research finds that the most successful retailers follow seven practices to drive their innovation.
Shift happens. And right now, there’s a seismic shift in how U.S. consumers shop. After years of being told by ecommerce analysts and experts that “this is the Year of Mobile,” mobile commerce is finally here, and it’s taking the traditional retail model with it.
CEO Doug Weich is featured in this 2017 Outlook from Mulitchannel Merchant.
Is the store dead? It’s a question we continue to hear time and again. Quite simply, the death of the store has been exaggerated. The country is over-stored, but the nature of the store is changing. Today’s successful retailers are focusing on their advantages over online shopping in offering experiences that can’t be delivered through a digital-only experience.
Retailers are increasingly able to offer the right product to the right customer at the right time, delivering better results through sales and distribution channels. Both physical stores and online stores are taking advantage of the value of the data to have a more personalized understanding of customers and their preferences, thanks to better technologies. However, as reported in an article in Informatica, there are still obstacles to address, specifically four major challenges, according to experts in retail and ecommerce.
Retailers are grappling with a myriad of challenges in 2017, from shifting consumer behaviors to the explosive impact of digital transformation.
To remain competitive this year and beyond, they’ll need to embrace many new realities.
Already, retailers are growing more skilled at providing the right customer with the right message — and offers — at the right time to generate the best results across sales and distribution channels.
Both stores and online shops are growing more empowered with data and a more personalized understanding of customers, gaining better understanding of customer preferences, and better leveraging tools and technologies to become truly customer-centric organizations.
With the product findability process differing by product type and customer base, how retailers ultimately create frictionless experiences for consumers will vary from company to company. However, one thing that is consistent is that it often affects the entire organization, including its people, systems, processes, and customer touch points. To help put it in perspective, let’s think about product findability in terms of people, processes, and tools.