1. People are number one
Treat your people (customers & staff) as number one in your value chain. Companies need to train their staff on how to help the customer. In the same way, companies need to educate their customers about how to interact with their products and how to use them. No people means no business!
2. Open more eCommerce stores
Like retail stores, opening lots of eCommerce stores increases revenue and distribution. This growth model needs to apply to your online presence … open more ecommerce stores and market to all your markets appropriately.
3. Know your numbers
Increase your understanding of your business by building dashboards across the company. Measure everything – bricks & mortar stores, people, inventory and online.
4. Be transparent
Transparency is essential in business. Share everything with your customers including where stock is made, what it is made of, how it is made, and why it is made. Allow your customer to really buy into your ethos and reason for being. Allow your customers to access their history and complete transactions at any time online.
5. Technology sets you apart
Retail companies in the future will be completely underpinned by technology across all elements of their operations. Ideally, these services should be outsourced to help with cost reduction.
6. Centralize your distribution
Centralised distribution is a retailing business model that will help you to stay competitive with Amazon and other large online consolidators.
7. Customer service counts
Customer service is a winning formula that creates longevity by fostering customer loyalty. The end of disconnect with the customer is here and complete immersion and personalized awareness will be necessary.
8. Communicate with your customer in the way that they prefer to connect with you
Different customers prefer to contact you in different ways. Some prefer to call, others prefer email, some prefer live chat, and others prefer to contact you via social media. It is vital to have multiple streams through which your customers contact you. Whichever one your customer chooses, reply to them through that stream.
Contact RetailCare for more information.
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