Many of the challenges facing retailers today are shared ones. For example, e-commerce has become a must have for retailers. But the industry is quickly realising that the ability to buy online isn’t enough on its own.
Customers shop for many reasons. While those may include speed and convenience, for many shopping is a social and enjoyable activity. Yet, customers report that the e-commerce experience is regularly boring and lacking in inspiration.
For retailers then, one of the biggest challenges is making e-commerce as impactful as it can be.
Identifying a challenge is one thing. Solving it is more difficult. This is why our recent white paper doesn’t just recognise five of the biggest challenges facing modern retailers, but also offers practical tips and expert insights on how to solve them.
Retailers are approaching challenges wrong
In fact, many retailers may be approaching challenges in the wrong way. For example, when it comes to loyalty schemes many retailers focus on the perks, as well as the mechanics of collecting and awarding customer rewards.
This approach makes it harder to adapt loyalty schemes to emerging customer behaviors because the program is designed around a particular view of how customers shop. But it also ignores what truly influences customer loyalty.
Customers are not loyal to schemes or cards. Value is the biggest factor in customer loyalty. This value comes from the customer experience and customer convenience. By improving these factors, retailers can have a much bigger impact on their loyalty rates. It’s also easier to do then you might think as the strategic tips in our white paper show.
Getting to the heart of each challenge is vital for retailers to be able to solve them effectively as opposed to just treating the symptoms.
