“I think we’re having fun. I think our customers really like our products. And we’re always trying to do better” – Steve Jobs
Or perhaps Steve’s other quote that innovation is the difference between Leaders and followers is even more apt?
Did you know, that on average, less than 20% of consumers entering a retail general merchandise environment actually become a customer? So here we have, on average, 80% of your shoppers simply not purchasing from you. Chances are they then find what they are looking for at your competitor.
To further this point, our research indicates that the average customer service score is 70%. So really, we have only 70% satisfaction from 20% of customers.
That’s 14 out of every 100 customers that are truly satisfied with their retail experience.
Look at it the other way, that’s 86 out of every 100 that are indifferent or disappointed.
Retailers who understand the power of retailtainment events & innovation will capture the imagination of their current and future customers. Those that don’t will face the same inevitable lack of response from shoppers and therefore lack of conversion.
The contrast of the shop with little energy, no events or stories, little activity and without any change at all is the first sign of not being retail ‘fit’. The second is a low enthusiasm, distracted, disengaged retail group of people masquerading as a team.
Customers often don’t go looking for competitors it is just that more often than not we just send them there.