Retailers are faced with the enormous challenges of globalization, regulation, growing costs, and demanding customers. In addition to these changing market conditions, there are now multiple channels to reach customers.
For example: A customer buys shoes from ABC mart. They don’t contact her for months. The customer likes the pair and tries to order another pair online – but unsuccessfully. While surfing she sees promos of a competitor company XYZ and orders from this company. No sooner does she order, XYZ shoes sends her a discount coupon to be availed of in the next one year and a brief form to fill up. XYZ also informs her of exclusive outlets around her neighbourhood. The customer then provides a review of the product and “Likes” and “Follows” XYZ’s social media site. XYZ now emails her targeted offers keeping her likes in mind. This company is far more proactive and geared to recognize the customer across channels and woo her to ensure stickiness.
Increasingly, customers want their favorite brands and retailers to provide accurate product information and consistent service no matter how they buy – and to reward them for their loyalty with personalized promotions that offer real value.
How can Ixsight's solutions help the retail industry?
Creating a 360 degree view of customers
360 degress can help in following ways 1) identifying same customer purchasing from different brick-and-mortal stores around the world 2) identifying the customer and linking their online buying and social profile to their off-line profile or 3) ggregating sentiments and customer opinions from social media to brand performance.
To know more about Ixsight’s solutions read Identity Management
Setting up a single and updated product master
Establishing a single consistent definition of products that is specific, detailed, updated and centralized will enable the customer to have a seamless experience when they are searching for products either online or at a physical store.
To know more about Ixsight’s solutions read Skematix
The location of the customer plays an important role in determining their profile, preferences and requirements. This information can help organizations market offers or redirect customers to locations of their choice. This information can also be used to understand customer profile based on their locations. Last mile warehouse locations can be decided based on customer concentration.
To know more about Ixsight’s solutions read Locational Intelligence
In order to ensure timely delivery it is critical to have good and accurate information regarding customer’s physical address. Having additional information like landmarks, delivery timing preferences, and previous history of payment behavior enriches the organization's knowledge about customer allowing them to plan delivery routing and timing in advance. Address information needs to be recognized for automatic sortation till the last mile.
To know more about Ixsight’s solutions read Delivery Management