Retail market is highly competitive. To survive, retailers need to adapt to the dynamic retail landscape, be creative and push the boundaries of innovation.
Gone are the days when manufacturers decided the
product features, size, color etc. That
was the time when customers were willing to buy from the available
alternatives. Now the scenario has changed, and competition has become intense.
Customers have a range of choices, compare product offerings, and take
decisions. Today, people
are very passionate by nature regarding their brands. Properly planned and
appropriately devised marketing tools have the capacity to enhance the feelings
of the customer regarding the brand.
Customers are generally not interested in product attributes, but are likely to be interested in knowing how the merchandise would match with their personality. Though all customers would not behave in the same manner, this is the general attribute of majority of the customers. Customers are attracted towards a product due to the effect of their feelings. Brands that prefer to stand out of the box should make use of this attribute, and use appropriate tools to appeal to the customers.
Retailers today face a number of challenges. They have to meet increased competition, meet higher customer expectations, and enhance the loyalty of their customers. Retailers are under a pressure to deliver more for less. They apply many strategies to achieve success. The key factor to be considered is that customer involvement can be created and boosted by establishing a smooth and easy connection with people, and create a pleasant shopping experience. By this, retailers can establish a competitive edge in the industry. Every retailer is now in a position to assess new methods to create a better and pleasing customer experience to survive the market.
A retail store experience varies to a great extent; depending on the customer demographics, and the product segment. Overall customer satisfaction is a complex metric. There is a constant interplay of rational and emotional feelings inside every customer's mind.