Instant. That's the buzz in the new world of retail. Consumers don’t have to wait for anything today. It’s all right there, for them to see and experience. They see no reason to wait or pay a premium for anything. With renewed optimism, a fast-paced society, and an even faster-paced change in technology, consumers want new, different, and customized goods – now.
Delivering a truly seamless customer experience requires a retailer's presence at every stage of the customer journey, from discovery through research, purchase, fulfillment and beyond, to product maintenance or returns. CredenceIS enables retailers to respond to whatever the customer desires, wherever they may be, and whenever, or however, they choose to communicate.
Enterprises can certainly live up to that, by living up to the retail mantra of today – better, faster, leaner. With the immense growth observed and greater confidence in the economy, retailers hope to see consumers demonstrate some serious spending power. However, retailers will have to focus more on the digital front – ‘channelize, mobilize, and socialize’ to stay ahead in today's ‘click-and-mortar’ retail game.
Challenges & Opportunities
Multichannel retailing - The more your consumers see you, the more they'll want to know about you. Online consumers will buy if they’ve seen it, like it, and are convinced of it. Their product research actually drives more land-store sales than online sales. So, all channels where the consumer might get information from – the retail store, website, and catalogue – must be closely aligned and monitored for maximum impact and hence, sales.
Channel Convergence - The digital revolution does not mean doing away with the physical store. The store has become just one component of a seamless shopping experience and with CredenceIS, retailers around the world are connecting the physical, online and mobile channels that touch the nonstop customer.
Mobility in retail - Consumers around the world are ready to use mobile devices to shop, compare, and transact on the Web or in stores. Market research indicates that nearly 70 percent of consumers across the globe always have their mobile devices with them while they are in a store – which they use to consult family and friends about their purchase. This gives retailers an unprecedented opportunity to make an impact on the consumers at their so-called 'moment of truth.'
Future Brand Experience - Customers want fast, personalized service, and if retailers want to stay ahead, they need innovative ideas to enhance customer experience. Join CredenceIS to personally explore the upcoming future technologies that are already providing hyper-personalization, ultra convenience, and a simplified shopping experience.
Digital consumers - Today's consumer has access to information at a click – about product assortment, pricing, quality, and everything else there is to know. Given the scenario, companies can create more wallet-share by reaching out across digital channels – mobiles, interactive TVs, social communities. In-store technology like smart kiosks and digital signages hold immense potential to observe and influence shopping behavior. With traditional media failing to deliver the impact it once did, mastering ‘group’ coupons and social channels, in addition to email and search ads, rounds out a retail strategy to maximize today's ‘convergence of opportunities.’
Merchandising Science - With a wealth of information readily available online, consumers are now better able to compare products, services and prices — even as they shop in physical stores. Consumers have the power to influence other customers or damage a brand. Find out how new technologies and data sources bring science to the art of merchandising to drive sales, margins and differentiation.