10427 The Retailer Autumn 2018_Final Draft Pages

The balance of power has shifted, and the customer, not the brand, is king

Think brand and most retailers

• Understand your customer base - look at what motivates your customers. Do they want a loyalty programme? Are they time poor and would benefit from easier and quicker processes? Understand who your customers are and make changes to your business to benefit them A brand today has to deliver so much more than a product, it has to deliver a promise to a customer, and an emotional reaction that leads the customer to return time and time again. This personal connection has tipped the balance in the industry and resulted in customer experience winning out on the battlefield against brand. As such, those retailers who continue to make solid and strategic investments in customer relationships will be the ones who will maintain a strong foothold in this all too fragile sector.

still think product –

something which holds purpose but evokes few emotional connections with shoppers

Kareena Uttamchandani // Kuttamchandani@medallia.com // Medallia.com

the retailer | autumn 2018 | 39