“Direct interaction leads to more informed purchases, as customers feel more confident asking questions and seeking clarification on products before buying, ultimately reducing the likelihood of returns,” writes Kenneth Tan, Co-Founder and CEO of BeLive Technology
Brands like Polestar, Vinted and Home Depot are changing how they manage their customer journey. What can leaders learn from this?
According to a 2023 report by CB Insights, global startup funding experienced a 34% decline from 2021 to 2022, largely attributed to a lack of market demand.
The checkout process plays an important role in any customer’s retail journey, issues at this stage could cause individuals to abandon their baskets. Providing a customer-focused POS solution from start to finish will help retailers optimize sales and convert newly acquired customers into retained customers.
Open Commerce aligns sellers with consumers to create a digital marketplace that simplifies the buying process. By aligning themselves with AI, this new model can be powered with streamlined processes and greater efficiencies.
Balancing out SEO optimization with audience appeal can help you keep users on your e-commerce website for longer and keep pace with competitors.
When retailers default to driving conversion alone at checkout, they may be increasing purchases in the now, but it’s often not the right way to create profit long-term. Instead, retailers need to cater checkout to shoppers’ needs and wants, which will increase a mix of conversion, average order value and long-term value.
Retail managers have a choice when they enter periods of slower foot traffic – sit by idly, or create a plan for success when customers come back. Some forces are outside of your control, but focusing on improving the things you can will make the difference in creating a prosperous location.
This seemingly innocuous accounting practice can wreak havoc on a business’s cash flow, leaving them financially impaired and submerged despite robust sales figures.
Amid the COVID-19 pandemic, it became essential for retailers to offer safer, more convenient options like online shopping, order pick-up, and self-checkout. However, while these options were designed to improve customer convenience and help keep retailers alive, they may have been the retail industry signing its own death warrant…
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