#UK, E-COMMERCE RUNNING AT 20% STORES GOING OVER A CLIFF
Some say ‘what do you expect?’, we say ‘Keep Calm but above all don't just carry on’.
In Poland retail is young enough to learn from the mistakes, challenges and opportunities made in more mature markets.
There's three big ticket items to focus on.
Great customer journeys
Why so many retailers with interesting offers, cannot build successful relationships with consumers? The problem is that hardly anyone invests in the durability of these relationships.
Even the best product will not be sold if it is not properly promoted. Undoubtedly, it must attract the consumers’ attention with an attractive advertisement tailored to their needs. Just knowing their individual preferences is the key to the success of a good customer journey. It is necessary to understand all the steps that are taken to make a purchase.
Retailers need to pay the same amount of attention to the online as they do to brick-and-mortar, actually it’s even simpler than that – merge it into one space! There’s no need to differentiate - offer your customers an equally great experience online and offline and watch them coming back again and again.
Data driven decisions, dare I say AI
The Internet opens up possibilities that until recently, were unattainable. The use of artificial intelligence to create a shop offer is an increasingly common solution.
Customers provide us with a lot of information about themselves. A retailer who knows the consumers’ preferences can tailor the product to their individual needs. Personalised offers driven by an intelligent use of data is not the solution of the future, it’s here today. Your competitors are using it. Well… the good ones are. IT systems give us almost unlimited possibilities in terms of communication with the client. Knowing what their expectations are, you can prepare the services that they need before they realize it. Smart, isn’t it?
Unified commerce, not e-commerce and not multichannel
When it comes to merging online and offline – think broader, put your actions into a longer perspective, don’t focus only on here and now. It is worth focusing on the opportunities which unified commerce offers.
What is the practical application of this option? The timeliness of all information about the offer allows you to download data, e.g. about the availability of goods. If the product is not listed in the store, you can quickly locate it in another place, so that the customer will not give up the purchase. You don’t have online and offline stores – you have one store and it gives your customers all they need.
Not online, not offline but customer convenience.Your customers are the key to your success. So don’t only attract them, keep them, make them coming back for more and the only way to do this is to listen to what they need, observe how they shop and adapt to it… and do that quickly. There are no one-fits-all solutions and the way the market and its customers are changing means the retailers will need to change as well. But the good news is that these solutions are out there, the tech is out there. The only question is – are the retailers going to realise that quickly enough not to fall behind and fail.
There's loads of jargon, technologies and innovation – of course.
The trick is selecting the best ones which attract, engage and sell to a stretch set of KPIs, in other words you choose the ones which help retailers perform.
At Exorigo-Upos we know retail, but more importantly we know how to select, integrate and measure the technologies which power high growth, unified commerce.