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The innovation of experience MATTERS

20%, 30% no 50% ...Final sale, everything must go. Ever get the feeling that stores don't offer much but just throw sales at us, so we ignore the fact that their stores are like mazes with pieces of expensive clothes scattered around?

Shopping is no longer a need-based activity but has moved into the realms of experience provider, which presents retailers with a unique opportunity to strategies and deliver something that will increase their business profitability.

Shifting Sand

Why is it that customer experience is now a massive pull to customers. It is not a new idea because every brand has said that they offer the best customer experience. So what was the catalyst that drove stores big and small into making sure consumers have the best experience with them? 

One could look at the shift in power that the digital revolution has brought upon retailers. No longer are customers bogged down with limited options but a whole new landscape that can be tailor-made for them awaits. In China, mobile applications, loyalty programs etc are created to fill those need. Therefore stores have to optimize the shopping experience for customers, retail companies have to offer customers a networked shopping environment as well as products that are specifically tailored to their desires.
Store have to turn shopping into a special event every time a customer walks through their doors, but staff also has to provide in-person one-to-one support and advice( the team has to be well trained). By creating an environment where shoppers feel at ease, with the ability to access information as well as a friction-less payment option makes the mundane feel new and improved.

Don't Buy Yet

I know when you hear experience the first thing comes to mind is spending money on something expensive and new. But before you run off and buy something innovative here are a few questions you need to assess your organisation.
First are all the ideas coming from management? If yes, you will score low. A truly innovative company gathers ideas from everywhere, especially from the field and contact with consumers.

Second are your projects directed to cost savings, process improvement or customer experience improvement?
Third, do you have an innovation budget? Is it located in the business unit? Do managers need to aggregate pieces of budget from left to right to innovate? There is no right answer to this question, just think how much you want to innovate, and how much money you spent on it.

Take the time to analyse your organisation you might find that you need to work on a few areas and that is a good thing. Experience and Innovation go together but only when all the parts are working as one.

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