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The Modern Customer - Here's 6 things you need to know.

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Where, Why and How we shop is changing - here is 6 Interesting statistics on the modern customer. Interested in how we can help retailers use technology to embrace the modern customer - see more at http://www.packetwire.ca/how-we-help.

Published in: Retail, Business
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The Modern Customer - Here's 6 things you need to know.

  1. 1. the modern customer here's 6 things you need to know.
  2. 2. 70% of all buying decisions are based on how customers believe theyare beingtreated.Yet,only7%of customers report that their personal experience with businesses exceed their expectations. they expect a personalized experience each time, every time. TIP Focus on meeting and exceeding the needs of each customer as they come in the door.
  3. 3. In fact, 55% of customers would pay extra to guarantee a better customer experience. The number one reason for customer churn? Not price, but overall customer service. they aren't motivated by price but customer service is key. 55% TIP Focusing on dollars and cents is shortsighted - instead focus on customer experience.
  4. 4. Over 78% of consumers now rely on their social networks prior to making a purchase. Referrals are also important for retailers, as friends referred from friends make better customers - they spend more, convert better and shop faster. they rely on social proof such as feedback from their friends and neighbours. TIP Listen to what people are saying and be involved in conversations about your brand.
  5. 5. Larger stores are often seen as being too big to walk around - and customers are far more likely to head straight to the products they need rather than browsing. In contrast, smaller stores seem far more 'manageable', so customers usually browse the entire store, even if they just come to pick up one or two specific products. they are happier in smaller stores and spend more time in them too. TIP Don't worry about space - optimize your store's layout and product placement for best results.
  6. 6. Over 90% of customers won't provide feedback. While you are 20% more likely to receive negative feedback than positive, If a customer has had a negative experience they are still likely to just simply leave and not come back. The ones who are willing to share their negative experience? They usually pass it on to upwards of 20 people. they aren't likely to give feedback But when they do, it's probably negative. TIP Feedback is crucial - but don't expect customers to provide it. Find creative ways to engage and collect .
  7. 7. 73% of shoppers with smartphones prefer to reference their mobile device while in-store rather than ask a sales associate for help. Additionally, Retailers with mobile apps that offer in-store capabilities see upwards of five times more app engagement. they are mobile Even when in a store. 73% TIP Ensure customer experience is awesome across all channels, regardless of device and location.

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