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Retail: Understanding Your Customer Performance Faster

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The retail industry is in the midst of a tectonic change, and the lines between the digital, and physical shopper experience are blurring. Possessing powerful technologies at their fingertips, customers expect retailers to meet their needs, and wants at will, leading to ‘anytime, anywhere’ commerce. This is forcing retailers to make major changes in the customer experience.

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Retail: Understanding Your Customer Performance Faster

  1. 1. Copyright © 2017 Tata Consultancy Services LimitedMarch 2017 Retail: Understanding Your Customer Performance Faster PERSPECTIVES VOLUME 8 Pratik Pal President and Global Head of Retail, CPG, and Travel, Transportation, and Hospitality business units
  2. 2. Retail is Undergoing Tectonic Change The lines between digital and physical shopping are blurring Customers want a frictionless shopping experience The customer experience is becoming personalized, transparent, seamless, and real-time
  3. 3. Customers Want ‘Fuller and Faster’ Fuller: Ensuring a seamless shopping experience by knowing customers’ likes and dislikes throughout their shopping journey Faster: Online orders are filled the same day, or even within a couple of hours The Internet of Things and real-time data technologies are crucial for retailers trying to transform this vision into a reality
  4. 4. Differentiate with Personalization Build a 360 degree view of the customer and use it across the value chain Get assortments, pricing decisions, product recommendations, and loyalty programs right for every single customer
  5. 5. Delight with Exceptional Service One-on-one personalization will be the next frontier in delighting and delivering truly exceptional customer experience and service Retailers who can deliver personalization at every point of the customer journey will win in the digital age
  6. 6. Back to the Future Modern retail has lost the personal relationships that local shops once had with customers Big Data and advanced analytics technologies make it possible to establish the same kind of one-to-one personalization
  7. 7. Copyright © 2017 Tata Consultancy Services Limited Retail: Understanding Your Customer Performance Faster Contact a Consultant Read the Article