Listening to your customers has always been important, but in 2016 understanding their issues is vital for retailers seeking to stay ahead when it comes to customer experience. This is because we live in the expectation economy, a crowded marketplace where customers buying online will not think twice about going elsewhere if you're not up to scratch.
Welcome to the next installment in our three part blog series with Vishal Katelia Senior Manager, Global CRM at MR PORTER. For those of you who missed part one, make sure you catch up here. We’ll continue our discussion of loyalty, kicking off with the industry Vish thinks retailers can learn from.
Following on from our retail loyalty breakfast in January, we caught up with Vishal Katelia, Senior Manager, Global CRM, MR PORTER. In the first installment of this blog series we ask him what’s coming up next for MR PORTER and get his top tips for retailers considering investing in a loyalty strategy.
What does loyalty mean to retailers and customers today? Are loyalty schemes still relevant? How do you identify and reward your most loyal customers with experiences that delight? We decided to find out the answers to these burning questions, and more, by inviting the retail industry’s best and brightest along to our first #QubitRetail breakfast of 2016 - read on to find out what we learned!
Tesco’s Clubcard scheme was a game changer when it launched in the 1990s, immediately demonstrating its marketing value by offering then Chairman Lord MacLaurin more knowledge about his customers in “three months” than he’d gained in “30 years” experience.
It’s the most wonderful time of the year—and for retailers, that means it’s the busiest. More conversions and bigger orders are at the top of everyone’s list, but success isn’t as easy as waiting for your customers to show up. Without the right strategy and execution, you might be disappointed with your results when the parties are over and it’s time for the decorations to come down.
Cyber Monday is the biggest online shopping day of the year and in the US sales topped $2 billion last year (Fortune, December 2014). Customers with the endurance to make it through the bank balance damaging weekend are still keen for deals and last-minute bargains on Monday. It offers distinct opportunities from Black Friday and if you take advantage of them you’ll see big rewards at the bottom line.
Talk about Black Friday “greying out” is nothing new.
What is new is that this year UK supermarket retailer Asda - who pioneered Black Friday in the UK – has consciously uncoupled from the event.
Instead of a mega day of discounts, Asda is offering £26 million-worth of discounts across the whole holiday season due to “shopper fatigue” (Guardian, November 2015).