If you want to increase sales without spending lots of money, there are many things you can do to create a great shopping experience. These include pop-up stores, social media experiences and in-store events. By improving the customer buying experience, you can increase your profits and make your customers loyal to your brand.
According to Nielsen IQ, there are four experiential building blocks that go into making up a shopping experience: availability, curation, immediacy and excitement. By re-inventing the shopping experience, companies can inspire shoppers in unique ways that will last a lifetime.
When it comes to retail, a lot of attention is focused on the in-store buying experience. However, in order to win over today’s omniconsumers, brands need to focus on the entire shopping journey — including the experience of purchasing online, at physical checkout counters and even after the purchase is made. Providing a holistic, omnichannel shopping experience is the key to securing loyalty and increasing revenue.
Today’s shoppers are more informed than ever. They are drawn to retail experiences that offer them valuable information and help them understand the value of a product or service. They are more accustomed to multitasking and have more comfort with self-service technology. These trends have led to a new set of expectations for the shopping experience that will define future retail success.
A recent study found that 78% of shoppers will tell their friends and family about a bad experience with a brand. But, 95% of those same people will be willing to give the brand a second chance if the experience is improved. The best way to make sure that your company is delivering the right shopping experience is to ask the people who shop with you. Use the feedback you receive to make improvements that will resonate with your customers.
In a world where everything is instant, there is a new expectation that the product you sell will be immediately available to your shopper. Whether it is as simple as having items on shelves ready to be picked up or as complex as giving shoppers a real-time update of their product’s status, businesses should strive to meet this demand.
Providing a high level of immediacy will also compel a shopper to consider other products or services. This can be accomplished by offering them an opportunity to customize their product or by promoting the value of additional accessories.
As return rates continue to climb in the wake of the pandemic, retailers should aim to provide a simple returns process. Studies have shown that a painless returns process drives customer loyalty. A quick and easy return will help your brand retain loyal customers and keep them coming back for more.