In the retail space, loyalty and customer experience go hand in hand.
“Loyalty today is more crucial to growth than ever, and a loyalty strategy must involve much more than a points program, writes Amit Sharma in AdWeek. “According to an Accenture study, 77 percent of consumers say they’re quicker to retract their loyalty today than they were three years ago. At the same time, 68 percent of consumers are willing to pay up to 15 percent more for the same product if it entails a great experience.”
Let’s break that down. People are actually willing to pay more for the same product – up to 15% more – if buying it can be considered “a great experience.”
The question then becomes “how can I create that great experience” to make my product more valuable and stickier to my customers?
For many retailers, it means customizing the physical experience to incorporate digital experiences and social sharing. For others, it means a more tightly curated shopping experience.
“If you walk into Nordstrom Local in Los Angeles, you won’t see merchandise at all, except for the items hand-picked for customers to try on. In this new take on a department store, you’re meant to enjoy the space instead of digging through racks,” Sharma continues. “You can meet with a stylist, pick up an online order and get your clothes tailored. You can even get a manicure.”
The lines between the channels are blurring as a digitally-fatigued consumer base again embraces the physical, the unusual and the personalized. It seems like a natural time to incorporate print in the marketing mix, especially data-driven print that adds the personalized, curated experience we are coming to expect.
“Retailers like Nordstrom, Glossier and Warby Parker are wisely combining the tactile and immersive elements of in-store retail with the convenience of browsing online and the ease of shopping at home,” Sharma notes. Meanwhile etailers like Wayfair are incorporating the power of printed direct mail catalogs to enhance their UX.
“They’re building valuable brands in a constantly changing retail landscape by focusing on the user experience and recognizing that UX entails not only the process of buying but also how a user feels before, during and after the sale.”
As we look to understand the modern omni-channel customer, we have to ask – are we giving them what they want?