Retail matters beyondthebox increase retail revenue


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Retail matters beyondthebox increase retail revenue

  1. 1. Retail Matters
  2. 2. Executive Summary Armed with smartphones, online reviews and recommendations, shoppers are information never before. Even though 90% of all transactions still take place in bricks and mortar stores our research it’s despite it. We asked 200 experience, click-and-collect and online shoppers for their retail impressions. Studying responses to questions that covered: Customer service Sales and up-selling entify some of the main opportunities as well as the challenges facing retail and ourselves asked the question: Instead of being part of the problem what can retailers do to make their frontline staff the foundation of future success?
  3. 3. The Executive Summary Highlights: 1. That it really is time for retail to up its game. 2. That depending on their nature, shoppers are seeking trusted advice or an inspirational 3. right decision wherever they shop. 4. That shoppers have multiple motivations and it takes training to identify and respond effectively to them. 5. That off-line retail still offers the ideal environment to build brands. 6.
  4. 4. Time for retail to ‘Step up’ With 75% of online shoppers believing that retail staff fail to communicate well and only 50% of click and collect respondents feeling that ‘retail staff shoppers are looking online for the in-depth information, the convenience and the pricing that they want. And when they get there? They love it. Nearly two thirds thought online Only 44% of shoppers feel that bricks and mortar retailers fully showcased their products. informed, empowered and engaged staff is vital. Next Step Skills development demands retail training knowledge and designed to help retail staff be they planned or more impulse experiential type prospects.
  5. 5. There is a sales skills gap. Staff are struggling to sell in the multichannel retail world: Teaching sells decision. And to help them make the right decision what they really want is trusted guidance. With 75% of online shoppers believing that ‘retail staff fail Retail staff need both the knowledge and the ability to delight and inspire. edge than their prospects and be able to relate that information clearly, they have little or no chance of shaping the outcome. Clarity trumps persuasion. Online 25% of shoppers feel a product. Next Step Dare retailers empower staff with a sales toolbox containing the product information competitor and pricing awareness to win new business?
  6. 6. The multichannel retail challenge still needs to be cracked: Retail without boundaries Our research tells us that shoppers are essentially channel agnostic. They simply want to buy the right product, at the right price and as conveniently Retailers that silo their sales channels and are unable to adopt a more holistic sales approach will see customers following the path of least resistance… to the competition. store. British consumers spend more online than consumers from the other countries. 23.1% of UK adults used their smartphones to visit retail websites. Next Step its potential as part of an integrated retail approach what tools and support can be put in place to train and empower staff?
  7. 7. Retail staff need to recognise planned and impulse customers: Content is King customer engagement. A planned shopper will likely want a broader and deeper product understanding, an impulse shopper will require a lighter touch. to successfully share the right information, to recommend, to upsell. the retail personal touch seems to play an important role when it comes to complementary product impulse buys. How much greater might sales have been if staff had been trained to recognise and expertly deal with impulse buyers? complementary products in-store compared with only 7% per cent online Next Step What about other types of customer? Could retail tap into a wider range of intuition to maximize a sales opportunity?
  8. 8. The retail space is still the frontline of the brand: Shop staff or Brand ambassadors? Merchandising, point of sale and the opportunity to evaluate products At the heart of the in-store advantage is the all important role of the retail staff - brand ambassadors - the ability to inspire inspiration. 96% of respondents feeling that they get a sense of brand when shopping in store compared with 72% when shopping online. protected through staff skilled in representing relationship will be long lasting and rewarding. Next Step How to create brand ambassadors? Buy-in through partnership? Engendering a deep and detailed understanding and appreciation of the brand history, values, range
  9. 9. Wisdom not Smarts necessarily to sell, sell, sell. Customers like experience and they warm to emotional intelligence. that they trusted the knowledge of sales staff the least, customers are are likely to shop in store the highest from our survey. researched options online are the most likely to click and collect, fashion Next Step staff specialties. Should retailers be more selective in matching personalities, interests and life experience to different retail environments?
  10. 10. Summary For retailers employing informed and engaged frontline staff committed to building customer relationships, sharing the right information and adding genuine value to the customer journey, the opportunities are of their multichannel ecosystem. poorly trained staff struggling to engage the customers with the right assistance at the right point on their journey. Not only should talent be directed to the appropriate retail environment but that talent needs to be nurtured with a combination of multichannel aware education, training and empowerment to deliver the kind of informed and dynamic sales and customer service that shoppers now demand.
  11. 11. Over view of the solution: who wants the experience and the ‘planned shopper’ wants the knowledge Both need to be treated very differently and in order to achieve brand loyalty and sales tools to do so tactic is also needed to improve bottom line and gain a competitive edge This can only be achieved through specialist training which looks deeper than merely and passion.
  12. 12. Copyright © 2013