[ 04:41-05:15 ] How to leverage customer data to improve retention.
Customer retention, otherwise known as loyalty, is key for retailers at this moment. However, many retailers don't know how to differentiate themselves when their product is fundamentally very similar to others. The answer lies in their ability to leverage data. To harness these insights to create the most engaging experience possible.
[ 05:19-06:57 ] Eliminating retail silos
Retailers operate in silos. Everybody knows it. Everybody complains about it. It's an inside joke that everyone chuckles at but nobody seems to be tackling. Silos in retail are far more than just annoying and inefficient. They often lead to the downfall of great and once-popular retailers.
[ 08:23-09:10 ] Presenting a holistic brand
Customers don't care about the channel. To them, whether they shop online or in-store, it really doesn't matter. Yet to retailers that makes all the difference. Everything is structured by channel: marketing, merchandising, training, etc. No wonder they can't achieve an omnichannel experience. Retailers must learn to present a holistic brand to their customers.
[ 11:37-13:20 ] How digitization reduces time to market.
Sustainability is a hot topic in retail. Yet, very often, sustainability is about finding and eliminating inefficiencies. And, as we all know, that process is often a very profitable one. Digitization allows retailers to reduce their time to market by eliminating unnecessary and often manual steps in their workflows.
[ 25:50-26:58 ] Pre-orders are not new
Pre-orders are not a new idea. Yet, in an age of mass consumerism, the tool is very rarely used. Instead, retailers order way more inventory than they need, often because they don't know what is going to be popular. It's time to bring pre-orders back. In a quest to drive sustainability as well as profitability, pre-orders allow retailers to gauge demand before mass ordering.