Retailers who are "Listening" ARE winning. Many retailers say they are "Customer Centric" but that term can be translated in so many ways. To be truly "Customer Centric" is to...
1. Take various forms of customer centric data
2. Extract insights that represent what the customer wants from you
3. Activate change or enhance experiences to build your alignment to customer needs/wants
A recent example of this can be found with Vibe Coffee. A boutique Coffee pod, Chai pod, and Coffee bean retailer who receives a high volume of incoming questions about what coffee pod is best suited for a new customer.
The Vibe team used qualitative and quantitative data to create a "Coffee Pod Calculator" which takes people through two simple questions and leads them to the ideal coffee taste (and/or aroma) suited to their preferences.
This unique coffee specific guided selling tool is not overly sexy nor was it expensive to create. But that's the point, IT DOESN'T NEED TO BE. It just needs to answer the questions people have when they are in the process of making a decision.
The Vibe team has set this up, and is now tracking the data to gauge the response. Once the data comes through, this journey will be enhanced/modified/improved on.
This retailer has an online conversion rate that is consistently over 5% so they must be doing something right:) The average international retail online conversion rate is 3% according to 2023 stats from Smart Insights.
Progress not perfection.