Online shopping is continuously evolving and disrupting the market that, in turn, urges other retailers to move to online platforms.
FREMONT, CA: The “Amazon effect” refers to the transformation caused by the online, e-commerce or digital marketplace replacing the traditional brick and mortar business model with the change in shopping patterns and evolving customer expectations. It is cited as the primary reason for the decline in sales street-side stores. This is because of the convenience these customers experience in online shopping, and they expect a lot more while visiting stores. When retailers do not meet their expectations, they naturally shift to online shopping where there is no need to wait to pay bills. For its ability to offer faster delivery, shipping, and exceptional customer service, Amazon is on the top in the retail industry. Other retailers can also win in this Amazon era by adopting the following tips.
Focus on generation gap
Retailers are on the verge to satisfy the needs of a wide range of generations comprising baby boomers, millennials, Gen X, and Gen Z. While some among them prefer online shopping, remaining favor visiting stores to shop. Thus, to build an everlasting relationship, retailers should adapt their brand experience to accommodate the customers varying purchasing preferences.
Grow digitally smart
It is not just about being in the online platform, the real success for retailers rely on how fast they can adapt to the evolving needs of the customers and their potential to fulfil them through digital means. They should provide the customers with excellent experience whether they shop on mobile or computer. Every small offering account for the customers positive experience like fast page load times and exciting user experience. Retailers should make sure that their site pages are user-friendly and highly responsive. They should focus on displaying products clearly, alluring product descriptions, and easy-to-navigate customer service.
Retailers should understand the significance of reviews as they are the driving force for online businesses. It is the only means for retailers to know about the quality of their service and product. Customers should be asked to leave online reviews after the purchase. Thus, from honest and positive reviews, retailers not just win the trust of potential customers but also enable them to arrive at their own conclusions.
Focus on the store appearance
Retail locations should be pleasing, clean, welcoming, delighting, and inviting, inducing the interest among shoppers to explore and discover things they would like to buy. Famous and most preferred brands should be arranged such that they are placed in strategic locations to encourage visitors to venture further inside. Reinvent the in-store experience by increasing convenience for shoppers by adopting digital technologies like digital price tags, automated checkout, virtual fitting rooms and others. On the other hand, sales staffs are influencers for buying a product. Those with a deep understanding of customer needs and more excellent product knowledge will create a more personalized experience that tempts shoppers to buy.
In this era, social media has transferred the power from brands to consumers, giving shoppers the independence to raise their voice regarding opinions about a product or a company in a holistic way. People can check reviews about a product across various social platforms, although they make a purchase in-store. So the retailers must ensure their presence on social media always to give their support consistently, and this enables retailers to engage consumers in authentic, two-way response while getting a better understanding of their requirements, preferences and passions in the process.
With the right technology and tools, retailers can never experience a fall in their business and retain their customers.
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