How does Real-Time Data Enable Retailers to Provide Great Customer...

How does Real-Time Data Enable Retailers to Provide Great Customer Experience?

By: Retail CIO Outlook | Wednesday, November 06, 2019

Real-time data will enable retailers to accurately provide the customers with what they want while reducing unwanted costs and enhancing customer experience.

FREMONT, CA: In this digital era, it is a daunting task to establish an emotional connection with the customers. A firm relationship with the customer will build loyalty while producing more customers and sales. By creating amazing experiences, retailers can impress purchasers. Imagine a situation when the customers receive whatever they needed and looked for. It will result in a customer experience that one never dreamt of. Retailers can leverage real-time data to figure out the wants and needs of the present and future and deliver the best experience they could. Retailers can leverage data about the current happenings to make in the moment recommendations that will cater to the customer needs now.

Retailers can track the geographic location and shopping behaviors of today’s customers. They should stay up to date on all social media platforms, including Google, Twitter, Facebook, and more, thereby extracting data from them about the viral trends. This will allow them to stay more relevant and customer-oriented. At the same time, when the customers get irrelevant products, they wish to return them at zero cost. But offering this convenience is costly for retailers. This is because they incur additional charges, including inventory costs associated with returning items to the warehouse, shipping costs, checking them in, restocking them, and preparing them for sale again.

The unwanted costs can be mitigated with real-time data using which retailers can link logistics, inventory, and e-commerce systems to add in process returns instantly. Also, real-time data can optimize product delivery options considering their convenience to increase future purchases and customer satisfaction. Most importantly, customers can control the delivery operation in just a click even after the package is out for delivery such that they can change the time and location. This ability illustrates that nothing is impossible with real-time data.

In this competitive online retail market, businesses should look for ways to leverage evolving technology solutions to use real-time data that, in turn, can enhance the customer experience. With innovations in data streaming technologies, it is becoming easy for retailers to make full use of data while giving them endless opportunities that will delight them.

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