Retail customer experience can be the number one driver of revenue and improved store performance for a brand, unfortunately current practices miss the mark and are extremely imprecise, unresponsive, reactionary, and difficult to execute. For many retailers, improving the customer experience can be more of a liability than a benefit.
One of the main drivers causing retailers to fall short on delivering a superior customer experience is that they take a macro-level view of their stores rather than focusing on improving the experience for each individual store.
Research from McKinsey & Company suggests that “improving a customer experience from merely average to something that wows the consumer can lead to a 30 to 50 percent increase in measures such as likelihood to renew or to buy another product.”
They go as far as to outline seven areas retailers should focus on to improve the customer experience, they are:
- Spend time with customers rather than just measure them.
- Design the total customer experience, not just the user interface.
- Completely rethink the customer experience, not just address the issues.
- Working around regulations? Rewrite the rules instead.
- Become an agile organization.
- Constantly iterate.
- Work collaboratively and spontaneously.
Retailers are working hard to improve the customer experience across all channels. Those that think about improving the overall experience at each individual store while employing technology that allows them to make it repeatable and affordable will be the winners.