How can I become more connected with my customers?

In a recent survey carried out by retail consultancy Attune Consulting, consumers were asked if, when searching for a product and coming across a cheaper version from a brand they didn’t know, they would buy it.

Only 48% said they would stick to the brand they know, while the rest would jump to the unknown brand.

Richard Emmott, director of retail at Attune Consulting, says retailers cannot rely on brand loyalty and need a strategy utilising every tool at their disposal to retain customers, as well as to encourage them to upscale purchases.

He says: “Consumers want a streamlined multichannel experience and retailers have to not only deliver that as standard but find a point of difference that will make it more attractive than competitors.” Consumer feedback in the research highlighted a number of key areas where customer engagement needs to improve.

It suggested retailers need to continue working with partners to cut delivery costs, as well as innovating through greater use of technology.

Emmott says: “Loyalty incentives hold massive potential. If retailers can start to exploit the customer data they hold more intelligently, then the loyalty card is the portal through which they can start to engage more intimately with their customers.”

He says retailers need to focus on removing complexity - adding IT projects and new technologies that simplify transactions and stock management and reduce costs from back-end processes will increase top-line sales growth.