STAY AGILE TO TRANSFORM CUSTOMER EXPERIENCE
These are uncertain and disruptive times for many sectors. None are feeling it more acutely than the retail and hospitality sector. But the reality is that simply moving online is not enough to survive, let alone thrive.
CUSTOMER EXPERIENCE IS YOUR FUTURE
Your bricks and mortar assets are here to stay, along with the costs associated with them. There are juggernauts operating in the online space who are decades ahead of most retailers in terms of their digital capabilities.
So how can retailers ensure they stay relevant and continue to attract customers to come to them? Our answer is to focus on the customer experience. Experiential retail is the one thing that online retail is yet to crack. Experience comes in numerous forms.
Are your people passionate advocates of your product? Perhaps they are experts? Is there a process they can take away from the customer, in order to make their life easier?
One of our retail clients, The Perfume Shop, talks about being “passionate, caring, experts”. As a combination, this is a powerful platform for innovating on their in-store customer experience. They created a powerful took called Fragrance Finder, which is used both online and instore to help customers to find the perfect fragrance for them.
This is a brilliant innovation, combining technology and customer service to deliver a new experience to customers.
The Fourth Industrial Revolution: Adapt or Fail
In our White Paper: From Fragile to Agile: Innovating in Uncertain Times, we talk about the Fourth Industrial Revolution, as written about by Klaus Schwab. This is about the interaction of humans and technology through intelligent robots, augmented reality, machine learning and self driving cars.
These are just the beginning. Schwab predicts that technology will lead us to massive shifts in the way we live, and even in the way we imagine what it means to be human.
With the march of progress becoming every faster, we share Schwab’s concerns that organisations might not be able to adapt at pace. So we support our clients to build agile organisations which operate with a clear focus, move at pace, and work with an experimental mindset, so that they are able to adapt and thrive in changing times.
In the white paper, we explore these three key elements of Focus, Pace, and Experimental Mindset, and share examples of organisations which, like The Perfume Shop, are already working to build their organisation’s Innovation Ecosystem, to ensure they are fit for the future which is already here.