What gets measured can be managed and improved. Many retailers are failing to measure the second sale, and track the related customer variables to build lasting relationships that create lifetime value.
Topic: Customer Experience
The retail transformation to omnichannel challenges the basic concept of a store as a destination to purchase. The consumer quite literally has become the POS, which requires retailers to reexamine right sizing stores.
"Customer-experience (focused) leaders gain rapid insights to build customer loyalty, make employees happier, achieve revenue gains of 5 to 10 percent, and reduce costs by 15 to 25 percent within two or three years." Technology is a key differentiator.
Welcome to Dubai or as CBRE calls it, the key stepping stone for international brands entering the Middle East. Over the next three years, more than 1.5 million square meters of new retail space could be delivered to the Dubai market, adding roughly 50% to existing inventory.
Future of Retail with the Top 5 Apparel, Luxury, and Technology Brands. The brand value of the retail sector rose 34% as e-commerce brands spiked in value and the category adjusted to disruption. See the Five Actions for Building & Sustaining Valuable Brands.
In 2017-2018, global retail shrink was $99.56 billion. Covering 14 countries representing 73% of global GDP and 80% of global retail sales, this research is the authoritative document on worldwide loss prevention trends. This post focuses on my two favorite charts from the entire study.
I am very excited by the infinite retail possibilities ahead in helping new technologies emerge, engaging with customers from a new perspective, and driving disruptive change through writing and public speaking. Thank you global community, NCR, Kyrus, and Tyco Retail Solutions.