Access the full podcast series here: https://cxfiles.libsyn.com/
Summary: In this podcast episode, the hosts discuss the state of customer experience in the retail sector with retail expert Bruce Winder. They highlight the importance of customer service and how it varies across different retailers and countries. They also explore the global element of customer experience in retail and the need for retailers to invest in superior customer service. They touch on the expectations of customers and what retailers should provide to ensure ongoing loyalty.
Key Points:
Retailers in the US and the UK are often seen as the gold standard in customer experience, while other countries like Canada are lagging behind.
Investing in customer service is crucial for retailers to attract and retain customers.
Customer expectations have shifted from patience to impatience, and retailers need to meet these new demands.
Understanding customers through data and providing personalized experiences is key for retailers.
Table stakes for customer service include courtesy, follow-up, and putting the customer first.
Competition and industry consolidation drive retailers to improve customer experience.
Lack of proper training, staffing, and attitude can hinder customer service in some retail stores.
Brands like Nordstrom and Ritz-Carlton excel in customer service by training and empowering their employees.
Investing in customer experience is not just a cost but rather an investment that pays back in the long run.
Digital channels and technology can enhance the customer experience, but human interaction remains important in retail.
Overhead reduction and cost-cutting strategies may adversely affect the customer experience and push customers to online shopping.
Oligopoly and lack of competition in some markets may lead to complacency and a disregard for customer service.
Key Statistics:
Some retailers, like Nordstrom, have mastered customer service, while others struggle to provide a satisfactory experience.
The US and the UK are often seen as leaders in customer experience in retail, followed by Hong Kong in the luxury segment.
Retailers need to invest in understanding customer preferences through data analysis and use that information to deliver personalized experiences.
The Ritz-Carlton is an example of a company that excels in customer service by empowering their employees to make it right for the customers.
Customer expectations have shifted from patience and tolerance to impatience and dissatisfaction with poor experiences.
Key Takeaways:
Retailers should invest in customer service and understand the needs of their customers through data analysis.
Providing personalized experiences, being courteous, and putting the customer first are essential for a positive customer experience.
Competition and industry consolidation drive retailers to improve their customer service to attract and retain customers.
Investing in customer experience is not a cost but an investment that pays back in the long run.
Digital channels and technology can enhance the customer experience, but human interaction is still crucial in retail.
Overhead reduction and cost-cutting strategies may negatively impact the customer experience and push customers to online shopping.
Some countries, like the US and the UK, excel in customer experience due to intense competition and industry standards.
Lack of training, proper staffing, and attitude can hinder customer service in retail stores.
Oligopoly and lack of competition in some markets may lead to complacency and neglect of customer service.
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