The future of retail is customer experience. By 2020, CX will overtake price and quality as the key brand differentiator, according to a Walker study.
Why is CX so important for your retail business?
Since customers today have more options than ever, they have high expectations for the shopping experience. Retailers are realizing that the best way to stand apart from the competition and grow their business is to put customers’ needs first and become a leader in CX.
There’s a better way to understand your customers
To deliver a world-class customer experience, you first need to know how your customers feel about your stores and service. But the old methods for collecting customer feedback are no longer effective.
Using a real-time CX solution is a powerful way improve your overall retail business.
Turning customer feedback into action
How do you use customer feedback data to develop your business? Let’s consider a hypothetical situation in which you have 75 stores in your retail chain. Using HappyOrNot terminals in your stores, you’ve received this feedback over the last month:
The good news is most of your customers were happy! 84% (224,575 people) gave positive feedback.
But the bad news is 16%—42,776 of your customers—were not happy. And these unhappy customers are unlikely to return to your stores.
Now consider, if the average purchase per customer per visit is $20, then potential lost sales is $855,000 per month, or $10,266,000 per year!
Fortunately, negative feedback is one of the best sources of opportunity for business development. When you know exactly how many people leave your store unhappy and why, you’ll learn where to focus your efforts to make the right changes.
Transform your CX with a proven retail solution
- A trusted CX solution by nearly 1,000 retail industry leaders worldwide.
- Over 500,000 customer feedback is gathered every day from retailers.
- Retail clients using HappyOrNot decrease customer dissatisfaction by 19% in just 12 months.