Retailers, particularly in times of economic uncertainty, need to be innovative and strategic about growing their brands. Increased competition, rising customer acquisition costs and shifting consumer preferences all point to customer experience (CX) as the critical way a retail brand can differentiate itself and rise above the crowd.
A comprehensive e-commerce CX strategy that addresses loyalty, efficiency and retention, reduces costs and incorporates AI through the pre- and post-sale periods is vital to success in today's retail climate.
A strong CX strategy can also protect a company. A recent Metrigy study found that after a bad customer experience, 44% of consumers leave a company and that same number tells friends and family about the poor experience. More than 25% leave a negative review on ratings websites and 12% post about it on social media.
