The growing usage of technology is affecting how companies across conduct their businesses. Exciting digital landscapes have opened up all over the world, with more than half of the population engaging in social media activity through their mobile phones. The current political and economic stability have also been positive for industries such as retail, which has been growing steadily in the last year and expected to continue expanding in 2016.
Growing retail e-commerce industry
In response to the increase in e-commerce usage, companies are pushing out efforts to keep up with the competitive environment. More organisations are now focused on implementing mobile solutions to meet with consumer demands. This is an imperative move, as customers in this digital age are equipped with smart phones, computers and tablets, accessing them on a daily basis, all around the clock. From online shopping to finding the closest restaurant within the vicinity all from the smart device, the lines are blurred between the physical and digital world. Therefore, it is imperative for businesses to be well prepared with a strategic digital plan to interact closely and promptly with their customers.
Reaching out to the modern consumer
Modern consumers are tech-savvy and consume information from their mobile phones regularly, therefore, businesses have to expand their scope to go beyond the traditional models to more digital-centric ones, incorporating more feedback channels to gain an edge over their competitors in engaging with the modern consumer. For instance, brands in the retail industry are now meeting their customers, physically and virtually, at many touch points – it could first happen in the physical retail store where they can purchase and register their interests, then through online platforms and multiple social media channels to continue the engagement, generate call-to-action via online store and ultimately, retain brand loyalty.
Cost-effective business solutions
With the advent of advanced business applications and systems, companies can invest in solutions that collect and analyse data on customer behaviors and patterns so that they can better understand their customers’ needs and wants, and at the same time upgrade their communications portals according to these data. Additionally, emphasis also has to be placed in educating employees in various departments, such as customer service and call center, to provide the same level of service quality regardless of whether the company is present in other channels. With the integration of technology and people into the overall digital strategy, customer experiences will be enhanced and thus, adding value to the overall brand’s reputation.
Demand meets supply
The consumers of today’s digital age are more demanding than ever, making it more challenging for businesses stay in the game. Companies have to constantly enhance their services to provide the best of customer experience in order to leave a lasting impression and aid in their business growth in the long run.
Publish Date: April 14, 2016 5:00 AM
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