5 Ways Retailers Can Add Value to Customers

5 Ways Retailers Can Add Value to Customers

1. Service

It may sound simple, but shoppers are more likely to return to you and become loyal customers if you provide a better experience than your competitors. Retailers can ensure that their staff is meeting and exceeding customer expectations by regularly training new and existing staff in customer service delivery.

Aside from providing excellent customer service, retailers can reward loyal customers and encourage repeat purchases by enrolling them in a loyalty program. Money off future purchases or exclusive events can often mean the difference between you and your competitor.

2. Exclusivity

It’s difficult to justify a higher price when selling the same product as your competitor, especially in highly competitive markets where price changes are closely scrutinized. However, smart retailers have realized that many customers are willing to pay a premium for unique items. This allows stores to attract customers by offering limited edition items like shoes designed by a local designer or a signed book.

For example, retailers could offer loyal customers first refusal on new products before the general public, or give them exclusive access to special online products or deals.

3. Expertise

Customers prefer to buy from people rather than faceless corporations, so they value expert advice from retailers. This can deepen the relationship between shopper and shopkeeper, allowing businesses to gain a competitive advantage. For example, a fashion retailer could offer free personal styling appointments to help customers find clothes that fit their figure and their budget.

Online retailers can provide expert advice to customers via social media, where many consumers seek advice before buying. Retailers can go one step further by creating content that shoppers will find useful, such as how-to guides and video tutorials. Retailers could even ask customers to share their own tips, such as a family recipe for lasagne or a method for removing grass stains from white t-shirts

4. Experience

Shopping should be fun for consumers, whether they are buying a designer handbag or a can of beans. But this isn’t always true. Consumers are frequently let down by retailers. A product being out of stock, a mobile website not working, or a store in disarray can all detract from the consumer experience.

To avoid disappointing customers and potentially losing a sale, retailers must focus on exceeding expectations across all channels. Hiring a mystery shopper is a tried-and-true method for retailers to gain unbiased feedback on their customer service and experience. Retailers can use this method to benchmark their customer experience by acting as secret shoppers to evaluate their competitors’ service and identify areas for improvement.

5. Convenience

We all know that convenience stores charge a little more than other stores, but we are willing to pay the extra to save time or get a product faster. While opening a store in a more convenient location or extending store hours can be effective on Main Street, these benefits are clearly not available online.

Online merchants must think of ways to make shopping easier. Offering free or next-day delivery or in-store pickup, for example, allows customers to choose how and when their orders are delivered. Having a variety of payment options also gives shoppers more choice and eases their concerns about entering their bank details online.

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