The retail world is difficult: from the huge pressure of costs, the changing needs of consumers, the fluctuation of demand, the spread of discount that trigger a mechanism of continuous comparison to be able to find the right balance between prices and promotions. That’s why speed and agility are the key to success: they allow you to identify changing consumer habits and product trends, so as to gain a competitive edge.
Emerging from the competition is every retailer’s dream. To achieve this, you need to start thinking not about the points of contact with customers, but about the creation of a journey (in this article we talk about how to meet customer expectations), in which you accompany it to find the desired products. Selecting the right assortment is indeed a fundamental task, although it is considered one of the biggest challenges for this segment (click here to read an article on how to increase sales by eliminating duplicate items). In fact, when the right mix of products is created, it becomes a powerful means, which together with the planning of the store space, is able to incentivize purchases. Retailers often target sales, but don’t stop there: it’s also important, in a market like this, to find the right strategy to convince customers to go back to their stores, guaranteeing the best experience every single time they cross the entrance of a store.
The current economic recovery has led to a growth of competitors with a business focused on consumer satisfaction and operational efficiency, resulting in a competitive pressure on prices, and required the transformation of channel strategies and retail operations.