From the Future of Retail 2017 report, PSFK Labs shares its key takeaways as learned from leading, customer-first businesses
The customer experience has always been a retailer’s priority—the thought is winning over a customer in a single transaction means earning their loyalty. But e-commerce and online platforms have changed the landscape of brick and mortar operations. With accessibility and personalization naturally embedded into the online retail landscape, customers are finding other nodes to purchase goods that are catered to their lifestyles and shopping habits. Today, physical retailers can offer customers personalized service by leveraging a combination of physical and digital tools and omnichannel infrastructures.
PSFK Labs‘ new Future of Retail 2017 report explores how the backend of retail operations—inventory management, multichannel communication and AI-assisted tools—can place the consumer at the forefront of a business. Below, PSFK compiles ten key strategies for facilitating a customer-first organization.
To read about each of these strategies in full, download the full report, or sign up for PSFK’s Retail Membership to receive daily retail insights, access to our database of 20,000-plus retail insights and collection of other retail reports.
Employees are the connection between your customers and your product. By educating them in experience-first environments, employees will be prepared to handle customer problems in the moment.
Inefficient communication platforms debilitate customer interaction and stall sales. Streamlined communication channels will allow employees to reach the information they need faster, making the employee to customer interaction fluid and far more meaningful.
By providing employees with the tools to creatively take on daily, in-the-moment problems, you can encourage them to take ownership in their work, which helps instill value into the customer narrative.
Associates need to be knowledgeable of minute to minute inventory and product supply in order to ensure fluid customer interaction. Through AI-assisted software, wearables and other digital tools, employees can adequately assist customers within the dynamic retail environment.
Customer Relationship Dashboards
Customers always want to feel like they matter. By collecting data on customer behavior, you can equip associates with the proper tools to treat consumers with personalized, catered service.
By using AI-assisted tools and software, you can relieve employees of monotonous tasks, while allowing them to do what they do best: create positive customer interaction.
In order to ensure that customers are at the forefront of your business, strategize operational revisions using data derived from in-store behavior, consumer feedback and other collected shopper data.
The dynamic retail environment demands optimized scheduling that puts staff on the floor during peak hours. By leveraging data on in-store foot traffic and streamlining scheduling platforms, businesses can ensure that sales floor always has enough resources to service customers.
Dynamic Supply Chain
Rigid supply chains don’t account for individual orders and can’t keep up with the changing demands of the marketplace. However, by equipping employees with real-time access to supply chains and siloed inventory management, stocking is efficient and flexible, with reduced discrepancies.
Because customers want products as fast and conveniently as possible, it’s important that retailers offer multiple channels to purchase goods. By leveraging third-party services and real-time data, businesses are reducing the customer time commitments and helping build customer loyalty.
Join us in NYC on Jan 17 for our Future of Retail 2017 launch event. The event is geared for any retailers, brands, agencies, technology companies and service providers looking to translate the trends included in our flagship report in actionable business practices.
Built on a robust study of trends and patterns in the market, the Future of Retail 2017 report offers transformational strategies for a customer-first business. The directional playbook from PSFK Labs helps brands and leaders drive success with insights into empowering employees, optimizing operations and leveraging technology. To receive access to the full report, daily retail updates, our database of 20,000-plus retail insights and collection of other retail reports, sign up to become a member to PSFK’s Retail Intelligence Platform.
PSFK is proud to host a special half-day conference around the findings in of our latest report on innovation and opportunity in retail
Wearable X CEO Billie Whitehouse spoke to PSFK 2017 about designing wearables for all five senses and maintaining a sense of humor