Successful multichannel businesses focus on the customers’ needs, and today we report on four ways that luxury watch business Watches of Switzerland now does that following a five-year transformation. It’s about customer service but it’s also about selling across sales channels, and about merchandising and marketing that take their cues from the customer. It’s long been a truism of the retail industry that the customer is king. Today’s digital technologies enable retailers to learn how they can learn from their shoppers how they’d like to be served – and then act on those findings. Doing so is fast becoming an imperative in an industry that’s becoming ever more competitive at a time of political uncertainty.
To continue that theme, we also report as Graze looks to gain more customers through its expansion into Europe – focusing on a test-and-learn approach that focuses on understanding how people in new markets want to buy, and how the brand can better tailor its retail experience to shoppers’ needs.
There are also lessons to be learned from European retailers. That’s why we include, from our European coverage, reports as Hema uses machine-learning to forecast demand, and as Carrefour heads towards 30-minute delivery times.
As Waitrose closes seven stores that it can’t see being profitable long-term, we report on how the retailer is streamlining its store estate at a time when many shoppers are doing more of their buying online. Today’s guest comment comes from Iain Banks of TTEC who considers the trends that are reshaping retail experiences - and how retailers might respond to those changes.