• Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Special Offers
Business Intelligence Info
  • Business Intelligence
    • BI News and Info
    • Big Data
    • Mobile and Cloud
    • Self-Service BI
  • CRM
    • CRM News and Info
    • InfusionSoft
    • Microsoft Dynamics CRM
    • NetSuite
    • OnContact
    • Salesforce
    • Workbooks
  • Data Mining
    • Pentaho
    • Sisense
    • Tableau
    • TIBCO Spotfire
  • Data Warehousing
    • DWH News and Info
    • IBM DB2
    • Microsoft SQL Server
    • Oracle
    • Teradata
  • Predictive Analytics
    • FICO
    • KNIME
    • Mathematica
    • Matlab
    • Minitab
    • RapidMiner
    • Revolution
    • SAP
    • SAS/SPSS
  • Humor

Four Ways To Retain Retail Customers In An Omnichannel World

July 13, 2018   BI News and Info

This is Part 2 of a two-part series exploring online buying behavior in the retail industry

In the last decade alone, the number of retail channels available to consumers has increased astronomically. As multichannel models evolve into omnichannel experiences, the abundance of choice is making it difficult for retailers to retain customers.

To meet this challenge, retailers can retain customers by placing them at the center of their omnichannel experience. Below are 4 strategies to achieve this.

1. Individualize offerings

 While there have been fears about downsizing among brick & mortar retail outlets, experts are encouraging a new idea: right-sizing. This involves adapting stores to their exact location, ensuring they are just large enough to hold exactly what local shoppers seek. Retailers can stock exactly what local shoppers are searching for by using advanced business analytics.

Right-sizing is an excellent example of retailers leveraging data to create individualized offerings. To offer this to their customers, retailers must leverage data from each of their channels. An excellent example of retailers tailoring offerings to customers online includes social media retargeting. By capturing data on what customers search for online, retailers can promote sales of similar products in social media ads.

2. Offer attractive in-store experiences

To attract shoppers to stores, retailers must offer experiences they can’t get online. Nike stores are attracting athletes with in-store basketball courts. Tommy Bahama stores are enticing customers with in-store bars.

As customers engage with these in-store experiences, retailers must inform them of their latest products. They must put them on the path towards purchasing and offer incentives for following up on their experience online.

3. Convert showroomers into shoppers

Showrooming has traditionally been the greatest threat to brick & mortar. Customers enter a store, browse the items on display, then purchase them online for less. Thankfully, tech-savvy retailers are turning the tables on this trend.

One way retailers are converting customers from showroomers into shoppers is by offering customers mobile checkouts. A staff member with a tablet can approach customers who are browsing goods and ask if they would like to buy them on the spot. This eliminates the deterrent of long lines and can boost sales through assertive selling.

If, however, the customer is unsatisfied with available products, the staff member can show them a digital catalog of offerings in other stores. In-store virtual catalogs like these offer customers an endless aisle. Increasing their selection increases the chance of converting showroomers into customers.

4. Utilise the customer’s location

Your customers can order goods from anywhere, but they can only receive them at home. These fixed customer locations should not be a challenge to retailers, but an asset. By offering customers the convenience of local shopping, retailers can secure their loyalty.

Local brick & mortar outlets are not the only way to offer this convenience. Retailers can also expand their local delivery system. For example, Amazon allows U.S. customers to collect their goods from secure, local Amazon lockers.

As well as expanding delivery systems, the ability to browse local stores from home is essential. By investing in cloud-based ERP, physical outlets can offer customers real-time information on local stock from the comfort of their couch. Numerous grocery stores already offer this convenience, which is why the retail groceries sector had the highest digital experience score in our recent Digital Experience Report.

Evidently, it is an exciting time to be involved in retail. As this traditional industry embraces Industry 4.0, all of us will benefit from customer-centric innovation.

For more insight into the future of retail, see The Mother Of All Retail Fundamentals For 2018 And Beyond.

Let’s block ads! (Why?)

Digitalist Magazine

Customers, Four, Omnichannel, Retail, Retain, Ways, World
  • Recent Posts

    • NOT WHAT THEY MEANT BY “BUILDING ON THE BACKS OF….”
    • Why Healthcare Needs New Data and Analytics Solutions Before the Next Pandemic
    • Siemens and IBM extend alliance to IoT for manufacturing
    • Kevin Hart Joins John Hamburg For New Netflix Comedy Film Titled ‘Me Time’
    • Who is Monitoring your Microsoft Dynamics 365 Apps?
  • Categories

  • Archives

    • February 2021
    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • January 2018
    • December 2017
    • November 2017
    • October 2017
    • September 2017
    • August 2017
    • July 2017
    • June 2017
    • May 2017
    • April 2017
    • March 2017
    • February 2017
    • January 2017
    • December 2016
    • November 2016
    • October 2016
    • September 2016
    • August 2016
    • July 2016
    • June 2016
    • May 2016
    • April 2016
    • March 2016
    • February 2016
    • January 2016
    • December 2015
    • November 2015
    • October 2015
    • September 2015
    • August 2015
    • July 2015
    • June 2015
    • May 2015
    • April 2015
    • March 2015
    • February 2015
    • January 2015
    • December 2014
    • November 2014
© 2021 Business Intelligence Info
Power BI Training | G Com Solutions Limited