Seventy-two percent of consumers expect a tailored retail customer experience (CX) right off the bat. Moreover, curating a positive retail CX can help build trust with existing customers who will continue to purchase from your business.
The customer experience in retail is such a crucial factor in a brand’s success. And there are ways it can be measured and improved upon! Research shows that about 61% of customers abandon retailers following poor customer experience—they are quick to switch to competitors if a better experience and service awaits them. So… we must continuously evolve!
Defining the Customer Experience in Retail
Think about your own shopping experience as a consumer: it’s about keeping that excitement up for picking the colors and designs, checking the sizing and fit, smooth transactions, and interacting with friendly and helpful workers.
Research shows that consumers are looking for more than just a product—they want an experience when they shop. They also want to be entertained and feel like their time (and money) has been well-spent. In addition to product and entertainment satisfaction, people want a smart and seamless digital customer experience through apps or websites. This chance to interact with other customers who share similar interests or needs can be an additional benefit. Similar interests could range from the exclusivity or inclusivity of a brand to its efforts at being eco-conscious. Many of today’s brands are looking to boost retail sustainability.
While this is great news for consumers, it's also fantastic news for businesses as a whole: consumers are willing to spend money on products that have been made responsibly by companies that care about the environment. Besides, these same consumers are likely going to become brand loyalists who will continue to spend with those companies years down the line.
This means that we're seeing an increase in consumer demand for more environmentally friendly products as well as an increase in consumer loyalty toward brands that provide them—and all this translates into more business growth for everyone involved.
Retail customer experience has become a key differentiator in the industry. From online reviews to social media, customers can now share their experiences with brands they do business with. Over time, consumers' shopping preferences change, and businesses need to adapt quickly to provide the exceptional shopping experience consumers are looking for. When you create an unforgettable customer experience in retail, you'll see repeat business and increased revenue.
Retail CX Strategies
The importance of customer experience cannot be overstated—it’s become a vital part to companies’ brand and marketing strategies. If you want your customers to have a memorable shopping experience, there are many ways to execute this, including the use of technology and artificial intelligence (AI)—chatbot assistants, recommendation systems, and automated transactional processes, to name a few.
In addition, having an omnichannel retail strategy provides a competitive advantage. Omnichannel retail strategies take advantage of the fact that consumers are using multiple platforms to make a purchase—and they're doing it now more than ever before. Here are some examples of omnichannel retail platforms used today:
Omnichannel retail strategies can help businesses increase customer satisfaction and retention rates while decreasing marketing and operations costs. Having the right mix of omnichannel platforms can help retailers attract more customers—and it should come as no surprise that this trend is rising steadily today.
You've heard it before: customers are the most important part of your business. You're not just selling them a product or service—you're selling them the ultimate shopping experience.
Elevating the Shopping Experience
With experiential retail, social media allows companies the opportunity to become more accessible than ever by providing direct links between consumers' profiles on social media sites. This means there are fewer barriers between brands and customers across various platforms.
The power of retail customer experience can be seen when your customers feel like they're part of a community. When you create an environment where people want to be, it's easier for them to share their positive experiences with others. This can lead to word-of-mouth marketing, which remains to be one of the most powerful forms of advertising.
With social media, you can't just post updates and hope that people will notice them; you need to engage with your audience and create a sense of community. If you take the time to respond to comments, answer questions, and participate in conversations, customers will feel like they're part of something bigger than just one brand.
All of this can lead to more sales and a better reputation, so beware of treating social media like an afterthought! With experiential shopping taking over, social media can be a fantastic way to connect with customers, so take advantage of it!
Virtual Reality: The Future of Shopping
Experiential retail is a growing trend in the metaverse, and it's not hard to see why. Consumers enjoy recreating physical experiences with the advent of augmented reality (AR) and virtual reality (VR).
From AR to the development of the metaverse, experiential retail examples have expanded into an immersive shopping experience to better help customers make their purchase decisions. With the continuous augmentation of technology, it's become easier than ever for brands to provide their customers with an exceptional shopping experience.
A rising form of experiential retail is virtual shopping—using AR and VR to create a simulated environment where shoppers can interact with virtual items from different brands or stores from the comfort of their own homes. No need to travel all the way to the store if you can experience the product from your headset. Many of these brands have even come out with products that can only be found and bought in the metaverse!
Companies are also taking advantage of this trend by offering virtual showcases that allow users to try on different outfits, accessories, and shoes before committing to a purchase. Customers can also customize their look with accessories like hair extensions or makeup.
Technology offers other new experiences to create better in-store and online retail experiences, such as cashier-less stores and store management automation with the use of AI.
Related: From Brick-and-Mortar to Click-and-Mortar: The Reimagined Future of Retail
A Ridiculously Refreshing Retail Experience
As the world’s fastest-growing tech-enabled BPO, recognized by the Everest Group, we are committed to fostering a culture that promotes innovation and embracing change within the retail CX. For the past 14 years, TaskUs has supported clients that are leading the industry with their innovations.
We are delivering Ridiculously Good retail and ecommerce management services in spaces like Artificial Intelligence, Trust & Safety, Marketplace Integrity, Digital Customer Experience, and Talent Management. Specific services we see our Retail and eCommerce clients enjoy time and time again are omnichannel customer support, back-office data entry, user-generated content moderation, and data collection/tagging to build out AI models.
Here at TaskUs, we believe that tech-enabled and AI-powered solutions can reach their full potential with the help of the human touch—and that’s one of the reasons we invest in our Teammates. By providing competitive benefits and employee support, we can consistently deliver Ridiculously Good results to You.
- 1^The value of getting personalization right—or wrong—is multiplying
- 2^Customer Service Statistics 2022
- 3^Consumers Are Hungry For An Experience-Based Connection With Your Brand
- 4^How a Great Customer Experience Can Grow Your Bottom Line
- 5^Survey: Businesses that Use Omni-channel Strategies Have Far Better Customer Retention Rates
- 6^Level of importance attributed to an omnichannel strategy for e-commerce companies in North America and Europe in 2021
- 7^How the Metaverse Will Change Retail Experiences
- 8^Virtual Showcase: The Metaverse Will Have Its Own Official Fashion Week Complete With Shopping And Afterparties
