With a new year comes change. New consumer behaviour and demands form new trends and, consequently, require new tools and technologies to be incorporated. New opportunities for those retailers bold enough to make the leap. To help you understand what to expect and how these changes may affect your business, Markus Linder (CEO, SMARTASSISTANT) shares the 6 top trends and challenges for 2017.
The internet has made the term ‘Customer Service’ grow up. Keeping your customers happy has become a multi-platform, cross-media task rather than just the sales staff in your store and the people in your call centre as it was 10 years ago. So how do you engage the modern-day customer? We’ve gathered 7 great pieces of wisdom from business leaders that have got it right – complete with suggestions on how you can follow their lead in your business.
We've asked retailers, brands and e-commerce experts: What are good ways to help shoppers make purchase decisions? And, how is Guided Selling influencing the purchase decision process? Read what they said...
The way we bank is changing. Many branch networks are being closed or shrunk and spending on digital technology is on the up. Why? Banking at physical branches is in decline, whereas 66% of the UK is predicted to be using internet banking by 2020. If traditional banks want to survive, they’re going to have to get with the times. And fast.
As choice overload becomes a very real issue across industries for customers and businesses alike, more and more businesses are looking into solutions to help their visitors discover, choose and decide for the perfect product to purchase. There are several ways how you can differentiate and improve the overall perception of your company. But how good are these? We've evaluated the 7 most promising approaches.
The retail industry is in the midst of a digital revolution. According to Deloitte, 36% of in-store sales were influenced by digital technology and this year it will reach a value that’s well over 50%. Integrating technology and offering digital advice is an important part of any strategy that aims at upgrading and modernizing the POS. In this article we are discussing different ways to use digital advice in your store.
"The other day, I had an interesting talk with a passionate retailer for snowboard gear - Tom. Out of professional curiosity, I asked him why they had no online presence. The subsequent chat was an eye-opener for me having been involved in e-commerce for over 10 years…. He was dead against it." - Markus Linder, CEO and Co-Founder of SMARTASSISTANT responds to the 4 most common arguments used by businesses against having an online presence.
Customers go in-store for an experience they can’t get online – for many people shopping is a pleasurable leisure activity, as well as a means to buy things. Physical stores are tapping into this by revamping key functions, such as layout and product display to create spaces people want to spend time in. It’s about customer interaction and discovery rather than selling. Cate Trotter, Head of Trends at Insider Trends unveils three of the most exciting retail trends emerging around the world.
"All Who Worship Customer Loyalty are Liars. Everybody is kicking customer loyalty around, worshiping it and giving out recommendations right and left on how to nurture it and invest in it. Sweet things and lavish praise alone. But every side has its reverse and I crave for disclosing it: all those coupons and discounts are a downright lie and delusion […]." In this article, Max Krukovsky, CEO and Co-Founder of Mavitech, busts 6 myths on customer loyalty in e-commerce.
Showrooming, the practice of trying out products in a physical store and then buying them online for a lower price is something retailers have a strong disdain for. And why wouldn’t they? Showrooming turns stores into expensive fitting rooms flooded by people who aren’t there to make a purchase at all. You’d think that that’s just something physical stores have to put up with. However, recent findings show that this need not necessarily be the case.
Chatbots and Virtual Assistants are artificial intelligence systems that can communicate with users on a more personal level. This undoubtedly creates new opportunities for businesses to engage and connect with audiences in real-time to help them resolve whichever customer service issues they have, shopping advice they need, and information they seek — in a fast and automated fashion. So what did change that bots are creating a worldwide buzz? Well, the consumer did.
A 2016 consumer survey by SMARTASSISTANT and SapientNitro found that 67% customers in the US, UK and Germany shop at less than 5 different shopping destinations and only 10% shop at 9 or more stores. Given that brand loyalty and product allegiance have been declining for several years now, the focus of any successful business strategy should be to make your store the Point of Decision – the preferred place that customers come (back) to, to complete the purchase or seal the deal - Example: Dollar Shave Club
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