Think “Renaissance” and images of flowing dresses, advanced mathematics and the grand artworks of Leonardo da Vinci and Michelangelo come to mind. At the end of the Middle Ages in Western Europe, the Renaissance emerged as an opportunity for new knowledge, new techniques - and new superstars.
Leaders were those who pushed into uncharted territory, disrupted the status quo and created a vibrant culture of creativity and experimentation.
Now it’s your turn – how will you connect with your customers and renew their interest in your product? How will your brand be a leader in the current retail renaissance?
A movement defined
Some say we are experiencing a “retail apocalypse”, citing the brick-and-mortar stores which are closing their doors, the once-vibrant shopping centres turning into quiet streetscapes, and the smaller retailers with no choice but to sell up to larger conglomerates.
However, our studies show that instead of a dire situation that must be avoided at all costs, we are actually experiencing a “retail renaissance”, in which savvy companies have an unprecedented opportunity to thrive in a dynamic and changing marketplace. The key? Customer experience.
Will you rise to the challenge? Our report is your roadmap. We’re here to show you how your company can authentically connect with its customers.
Disruptions in the system – and how you can exceed expectations
Retail is currently experiencing four main disruptions. You need to know what forces are at work and how you can use them to your advantage.
One such force is “customer disruption”. Customers have moved away from traditional expectations of what a retailer can offer them, and now expect speed, convenience and exemplary customer service every step of the way. So, ask yourself: is your website loading quickly? Is the content easy to read? Do customers immediately understand what product, experience and lifestyle you are offering?
2. With the rise of mobile shopping, we are also in a period of “technological disruption”. More advanced technology means more streamlined experiences, more on-the-go shopping options, and an increased role for social media platforms to educate consumers about your products. How can you use new technologies to improve your customer’s experience?
3. Lastly, “competitive disruption” and “economic disruption” point to the importance of standing out from the competition in our global market. With so many brands, hailing from hundreds of countries, to choose from, what makes your product and service stand out? What can you offer that no one else can?
Studies show that consumers are increasingly buying products based on either price, or the fact that a particular product is a premier brand. Products that tread a middle ground are losing out. Does your customer service and unique product encourage customers to seek you out?
Marketing to the “whole customer”
You’ve likely heard talk of educating the “whole child” or providing health care for the “whole patient.” What about selling to the “whole customer”? A recent study found that 60% of retail brand leaders say their company’s unique value proposition is based primarily on the actual product being sold, not on positive interactions with the customer. Indeed, only 10% saw values and emotional connection to the customer as part of their UVP. Imagine the strides you could make if your customers consistently felt cared for and satisfied – at every brick and mortar store, on every customer service call, and when scrolling through your website.
As shoppers’ preferences change, so must the experience you provide. In tailoring your offering to the “whole customer”, you take into account their individual needs and preferences. How will you draw customers in? And can you provide excellent customer experiences to match the quality of your product?
Your turn to shine
We hope you agree that this dynamic time presents an opportunity to connect with your customers in new ways, and support each individual throughout his or her experience with your product. Download the Salesforce and Deloitte Mastering Consumer Experience in the Retail Renaissance report to learn more and take the necessary action steps.
By finding out what your customers expect, investing in social media and other technology-driven platforms, and communicating clearly about your unique product, your company can become a true superstar of the new “retail renaissance”.
