Today, consumers’ desires are channel agnostic and developed from the knowledge and information that’s available across channels, a result of the omni-channel movement. How do retail brands maintain channels that can keep up with customer expectations and anticipate them going forward?
In a recent PwC study, the solution is found in a new business model which they call Total Retail. The building blocks for Total Retail call for less focus on channels and more focus on customers. It includes a “Chief Customer Officer,” a leader who owns the customer experience, regardless of channel, and focuses on developing a brand experience to meet these 8 customer expectations:
- The desire to discover a compelling brand story that promises a distinct experience. This is the #1 factor consumers give for shopping at their favorite retailers. They hear a voice bigger than the shopping experience.
- Personalization, which is defined as customized offers based on protected personal preferences and information. Retailers can craft and deliver the right offers at the right time based on past purchases or predictive analytics.
- Access to enhanced and consistent experience across all devices–this is omni-channel.