The retail landscape has been seeing a lot of change in the past couple of decades. With the average customer migrating to eCommerce sites, there is mounting pressure for brick-and-mortar stores to keep up with their online counterparts. Brands are being forced to rethink the retail experience. According to PwC’s Strategy&, “the steady growth of online sales is breathing new life into the physical stores” and retailers are starting to embrace the digital experience to provide a more meaningful and personalized experience. In a recent study, 40% of consumers said they buy more from retailers that provide a personalized shopping experience. In order to meet the new bar set for a highly customized experience while still keeping costs low, retailers are turning to technology to fill this gap.
In a recent look at tech trends in retail, PwC’s Strategy& states that “global retailers should… invest in digital technologies [to]... enhance the in-store experience,” causing many retailers to look at their communications as the biggest opportunity from which to benefit. Communications is at the core of every successful retailer, from the one-to-many broad messages letting potential customers know of the newest releases to the one-to-few very personalized phone calls to let a potential customer know a new coat has come out in their favorite color. It can also be a huge cost, cutting into CapEx and OpEx spending. Retailers are moving their communications to an integrated, cloud-based platform and are seeing the benefits in many ways:
1. Improved customer experience: Multi-channel engagement (phone, text, social media) is helping to create a more impactful and personalized experience between the brand and customer.
2. Reduced costs: By having all communications on one platform, retailers are seeing a 10%-30% reduction in communications costs, having predictable monthly payments and the ability to easily scale up or down based on new locations, heavy holiday traffic, etc.
3. Increased productivity: With easier store-to-store collaboration along with real-time analytics, stores are able to make more strategic and timely decisions.
Want to learn more about how cloud-based communications is benefiting retail? Join us for our 45-minute webinar, 3 Key Benefits of Moving Retail Communications to the Cloud. UCaaS expert Ken Westermann will talk about what he has seen in the retail industry and how an integrated, cloud-based communication platform is revolutionizing the way retailers do business. Register today!