The retail sector in the Philippines is currently witnessing a transformative shift in consumer behavior, driven by digital advancements and changing shopping habits. According to a recent survey on Filipino consumer behavior trends, 76 percent of respondents have indicated a preference for online shopping over in-store shopping because of discounts and lower prices. Only 32 percent of those surveyed believed that in-person shopping was an irreplaceable experience.
These statistics highlight key differences in how customers view brick-and-mortar, hybrid, online, and omnichannel retail as compared to before. It’s no secret that digital experiences have become more commonplace and that customers actively seek them out. But small and medium-sized enterprise (SME) and startup owners who operate all across that spectrum should focus on one thing, whether they’re running their business from a physical or online retail store: their enhancement of the customer experience.
Enhancing your customers’ experience is paramount if you want to be able to more than survive, but thrive in this evolving retail landscape. Below are six strategies you can explore to optimize your customer experience and encourage Filipino shoppers to buy products from your retail store again and again:
Embrace Digital Innovations in the Retail Sector
Now that smartphones, tablets, mobile data, and e-commerce are a fundamental part of the retail shopping experience, you’ll want your business to reflect these if it’s your goal to meet your customers’ admittedly high expectations. Make it your goal to innovate your retail store by pursuing the following technologies:
- Digital wallets. Financial technology or fintech companies have rolled out digital wallet solutions as alternatives to traditional bank accounts, which typically call for steep minimum deposits and other cumbersome requirements just to open. Today, it’s a breeze for customers to open digital wallet accounts and use only their smartphones to settle payments at the cashier. With portable point of sale (POS) terminals such as Maya Terminal, retail businesses can process these payments faster and more efficiently and make it all the more pleasant for customers to shop.
- Innovative POS systems. To accommodate all the different modes of payment customers wish to use, including cards and e-wallets, retail businesses will need to update their POS systems to be more flexible and adept at handling complex payment requirements. To that end, consider getting Maya Business’s Maya POS terminal, which accepts traditional credit card payments as well as established and emerging digital payment schemes like QR codes.
- Personalization and artificial intelligence (AI). Utilize customer data to offer personalized recommendations and create more tailored shopping experiences that customers will definitely remember. You can also leverage AI and data analytics to anticipate customer needs and provide relevant suggestions for their future shopping experiences at your store.
- Seamless omnichannel integration. Next, use technology to ensure a seamless transition between your online and offline retail channels, allowing customers to engage with your brand effortlessly. You can implement features like click-and-collect, for example, where customers can order online and pick up their items in-store.
With solutions like the portable Maya business terminals, this multi-channel integration can be made even more hassle-free. Handheld, wireless payment devices like these mean that customers don’t even need to leave their vehicles when they shop, since cashiers can actually bring them outside the store.
Create a Comfortable Shopping Space for Your Retail Customers
Whenever customers have the chance to come to your physical retail store, they should be treated to a comfortable and inviting shopping space. Knowing that, design an appealing and well-organized store layout that facilitates easy navigation. Pay attention to lighting, music, and visual merchandising to create a pleasant atmosphere where customers can linger and take their time perusing your shelves.
You may also want to consider incorporating interactive displays, touchscreens, or digital kiosks that provide additional product information, recommendations, and customer reviews. In addition, amenities like clean restrooms, comfortable seating areas, and free Wi-Fi will enhance customer comfort and make them choose to go to your store instead of a competitor’s.
Add a Personalized Touch to Your Retail Shopping Experience
As stated above, personalization plays a vital role in enhancing customer engagement and loyalty. Consider customizing your retail shopping experience and making it something memorable and out of the ordinary for your customers.
One way to do this is to collect customer data with their consent, for example by using customer relationship management (CRM) software. Gather and analyze customer data to understand each customer’s preferences, purchase history, and shopping behaviors. Utilize this information to tailor recommendations and offers for customers of a particular demographic or customers whose purchasing history proves that they’d be interested in certain items.
You should also make an effort to engage with customers through personalized messages, emails, or social media interactions. If possible, address customers by their names and recommend products based on their previous purchases.
Plan and Implement Strategies Based on Customer Data
With today’s available technologies, it’s no longer difficult for even SMEs and startups to be more data-driven in their decision-making for their retail operations. Leveraging customer data allows up-and-coming retailers to make informed decisions and optimize the customer experience. Consider the following strategies for being more data-driven when designing your customer experience:
- Thorough data analysis. Analyze customer data to identify trends, preferences, and patterns in their purchasing behaviors. Get insight on your store’s most popular retail products, its peak shopping hours, and the customer segments it resonates most with. Then, tailor your strategies accordingly.
- Targeted marketing campaigns. Develop targeted marketing campaigns based on your top customer segments and the most prevalent of your customers’ preferences. Use the knowledge you have to roll out personalized promotions, discounts, and exclusive offers to enhance engagement.
- Inventory optimization. You can also use your customer data to optimize your inventory management and ensure the availability of your most popular products. This minimizes out-of-stock situations and improves your customers’ satisfaction in your available stock.
Leverage Customer Loyalty Programs
Implementing a loyalty program can help you foster customer loyalty for your retail business and enhance customers’ overall shopping experience beyond the first time they transact with you. Launch loyalty program rewards based on customers’ preferences and purchase history, and offer exclusive discounts, early access to sales, or personalized product recommendations to the most loyal of customers.
Another way to reward your most loyal customers is to implement a tiered loyalty program, where the benefits get better the more they spend. Incentivize customers to achieve higher levels, and offer additional benefits and exclusive perks to the highest tiers.
Follow up any efforts to roll out a loyalty program with regular communication. Keep loyalty program members informed about new products, promotions, and special events, and if it’s possible, send personalized emails or notifications to maintain engagement.
Invest in Your Customer Service Across Retail Channels
Exceptional customer service is one of the key differentiators in the retail industry. When running your own retail store, prioritize customer service excellence by training your staff, being proactive about issue resolution, and widening your availability across various communication channels.
Train your employees to provide friendly, knowledgeable, and efficient service to each and every customer, and empower them to address customer queries and concerns as promptly as possible. Moreover, make sure your customer service staff members aren’t afraid of addressing customer feedback and going the extra mile to resolve customers’ problems.
The customer experience has to be at the forefront of your operations if you want to make it big as a retailer. Luckily, high-tech solutions such as smarter POS systems, interactive technology, and AI can supplement timeless best practices like keeping your communication lines open and creating strong relationships with your customers.
As a retailer operating in dynamic conditions, do the prep work to improve your business operations by upgrading your tech stack, inquiring about the Maya Terminal price if you intend to buy one, investing in omnichannel retail staff training, and the like. You won’t regret focusing on customer experience and using it as the foundation of your growth in the ever-evolving retail business.
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