It's all about retail - part 2

Customers are truly loyal to the experiences they prefer. Your loyal customers return because the experiences you create are preferable to those delivered by your competitors. The experience your brand offers is yours alone and that will provide you with a true competitive advantage.

Customer experience today has also been taken to a different level – in the virtual world. The ‘brick and mortar’ store concept of course remains a major force but a strong presence online matters – be that online selling or by merely connecting with customers through social media. How you use social media can actually spell the difference for your brand. Operationally, leveraging online formats and the use of social media can not only cut costs but can also contribute to business growth.

Knowing your customer also provides you with the ability to offer them products and a service level that they are always on the lookout for. Understanding how to better communicate your brand image to the customer is also key. The customer is KING – this is as true today as when the phrase was first coined.

Nothing will turn a shopper off more than rude or pushy salespeople, long lines at the checkout and items without tags or prices. And shoppers will not complain about these issues. It’s just too much hassle and they can’t be bothered to waste time. It could also be that they feel no matter what they say, the problem will not be resolved. Customers will simply vote with their feet, walk out and spend their cash elsewhere.

Ishwar Chugani

Executive Director

Giordano Middle East

It's all about retail - part 1

- Customer focus is the new mantra

- Change is here; dwelling on past practices will mean you miss the future

The world of retail is incredibly competitive, with customers becoming increasingly inundated by the various lines, styles and brands available and every retailer vying to get a substantial slice of the market pie.

Now, more than ever, retailing needs to be upfront, straightforward, relevant, functional and affordable. Customers will buy from someone they can trust, someone knowledgeable, someone who can actually deliver on what is promised.
While you may see some people rummaging through the myriad choices in the mall for individual items, most will not have the luxury of time to stay long, and they get confused. People instinctively turn to the familiar; brands and outlets that they know will give them what they want and need.

Many retailers tend to think that products and store ambiance alone set their advantage from competitors. With today’s technology, it is possible to match competitors’ products feature by feature, but what will set you apart is customer interaction. The experience economy is more about how you sell something than what you actually sell. Forget about product distinction. Today’s retail market is short on the ‘distinct experience’ – create one and you create an instant relationship with your customers.

Ishwar Chugani
Executive Director
Giordano Middle East