subject: Vision Shopsters: Enhancing Loyalty Through Customer Centricity [print this page] Introduction Introduction
Customer retention has always been vital in retail, but today it is even more so. As competition intensifies and sales are attained from taking share away from rivals, enhancing customer loyalty is critical. However, many retailers are not focusing on the core drivers of customer loyalty. Although loyalty schemes are beneficial, retailers first need to get the customer service basics right.
Scope
*Having the right products in stock at the right time is crucial for achieving customer satisfaction
*Consumers expect to be able to shop with minimal time and effort involved
*Creating a customer service culture requires staff engagement
Highlights
In an environment where attracting new customers is difficult and shopper frequency is falling, retailers need to concentrate on finding the fastest and easiest routes to protecting revenue through enhancing the loyalty of their customer bases.
Before considering costly loyalty schemes, retailers should first concentrate on providing the fundamentals of customer centricity. This report focuses on how range convenience and service.
Reasons to Purchase
*Understand the key drivers of customer loyalty in UK retail in 2010;
*Discover ways in which to enhance customer centricity
Table Of Contents :
SUMMARY 1
Catalyst 1
Ovum View 1
Key Messages 2
Retailers need to focus on the fundamental drivers of customer centricity 2
Having the right products in stock at the right time is crucial for achieving customer satisfaction 2
Consumers expect to be able to shop with minimal time and effort involved 2
Creating a customer service culture requires staff engagement 3
THE CHALLENGING Retail environment means that truly enhancing customer loyalty is critical for success 4
Falling shopping frequency and conversion rates mean increasing wallet share from loyal customers is increasingly crucial 4
Cautious consumers are spending less often 4
Few retail segments have seen conversion rate increases in 2010 4
Developing customer loyalty is not just about implementing loyalty schemes 5
LOYALTY COMES FROM DELIVERING THE fundamentals OF CUSTOMER SERVICE 7
Having the right products in stock in the right store at the right time is crucial 7
The range must meet the needs of the loyal customer demographic 7
Retailers' pursuit to reduce costs can lead to out-of-stocks, resulting in customer deflection 7
When products are not in stock, retailers should look to offer alternative options 8
Inventory management and optimization can be used to reduce out-of-stocks 8
The internet provides the opportunity to offer a wider selection 9
Retailers need to increase shopping convenience through provision, and integration, of channel breadth 9
Online shopping growth is fuelled by the custom
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