by Zahra Bahroloumi
- Customer focus, to understand what a convenient and relevant offer looks like at every site in the network
- Excellence in customer service provision, delivered at every site in the network, to confirm a consistent customer experience
- Speed to market, to maintain relevance across the retail portfolio.
- Orientate toward the customer and understand how they can influence your brand. Put the customer at the heart of every business decision. Simplicity, ease and convenience are priorities in the era of digitization, smartphones and social media. Retailers can make the most of increasingly rich sources of data—information on sales, inventory, energy and space utilization, and customer through-flow—to gain new insights into ways to improve the business.
- Use technology to augment the customer experience and capitalize on the need for convenience. Adopt agile architecture and leverage supplier relationships to support fast-changing customer needs and enhance business capabilities.
- Pay attention to real estate. A strong physical presence, effective store layout and real estate analytics can drive savvy investment decisions and an appealing customer experience.
Business leaders need to identify the right combination that provides the greatest return on investment for their business and customer mix.