NRF 2015: Before Deciding Where to Invest, Determine What Your Customers Want
The biggest retail event of the year–the National Retail Federation’s (NRF) “Big Show”–is fast approaching. If you’re planning to attend, you’re likely eager to experience retail’s latest technologies, trends and strategies firsthand. But regardless of what the latest and greatest may be this year, one principle remains constant: the path to retail success begins with satisfied, loyal customers. And satisfied, loyal customers are made when you provide great customer experiences. And understanding how to improve the customer experience starts when you measure the right way.
ForeSee’s multichannel customer experience analytics help you understand your customers’ and your potential customers’ expectations and provide actionable insights so you know exactly where you should focus improvements. Using a scientific methodology to continuously and uniformly measure the customer experience across touchpoints, our solutions give you a complete picture of what is and isn’t working from the consumers’ point of view and help you understand how the experiences you provide in one channel impact consumers’ likelihood to do business with you in your other channels.
Measuring all points of experience in the customer journey gives retailers a competitive advantage. Today’s customers are getting smarter and more selective, and they’re engaging in multichannel shopping behaviors at an ever-increasing rate. For example, in the recently released ForeSee Experience Index (FXI): 2014 U.S. Retail Edition, we found that:
- Thirty-seven percent of customers who made an in-store purchase during the 2014 holiday shopping season also purchased on their phones (compared to 31% in 2013)
- Store purchasers were far more likely to begin their research online this year (50%) than last year (35%), including visiting that store’s website and competitors’ websites
- Multichannel shoppers were generally more satisfied with a retailer than single-channel shoppers
- Shoppers who purchased in store but accessed multiple channels to research those purchases reported being more likely to engage in future behaviors critical to retailers’ success (return, purchase again, recommend and be more committed to your brand)
Omnichannel customer experience was all the rage at last year’s Big Show – and we’re sure we’ll continue to hear about it this year. Developing a strong omnichannel retail strategy starts with having a multichannel view of your business and your customers. If you don’t, it’s time to invest in measuring the customer experience the right way–using a proven, scientific methodology that provides actionable insights so you know where you should focus improvements–so you’ll always win with your customers in today’s rapidly changing retail environment.
If you plan to attend NRF next week, we encourage you to visit ForeSee in the Answers booth (#4031). Learn how we can help you:
- Understand how your customers feel about your customer experience today
- Predict how that experience will affect their future behaviors, such as recommending your business and buying from you again
- Gain insight into how the experiences you provide in one channel impact your customers likelihood to do business with you in your other channels
We’d also like to invite you to attend one of our Big Show Big !deas sessions. To quantify the elusive relationship between store employee engagement and customer purchase intent, we paired the results of the retail chain store portion of the ForeSee Experience Index (FXI): 2014 U.S. Retail Edition, with employee engagement data from those same stores, and analyzed the interconnectedness of the two. My colleague, Eric Feinberg, will be presenting our findings from that research during two Big Show Big !deas sessions: Sunday, January 11 at 10:15 a.m. in Room 1, Level 1 and Tuesday, January 13 at 10:15 a.m. in Room 2, Level 1. Join us for one of these sessions to learn how employee engagement influences the customer experience and how that experience drives business results.