Retail Industry Overview PDF

:S RETAIL INDUSTRY ,1 OVERVIEW ''Excite the mind and the hand will reach for the pocket.~~ - Harry Gordon Selfridge In every retail transaction, the most important person is the customer since they are the one making the purchasing decision. That's why customer service is critical in retail and...

:S RETAIL INDUSTRY ,1 OVERVIEW ''Excite the mind and the hand will reach for the pocket.~~ - Harry Gordon Selfridge In every retail transaction, the most important person is the customer since they are the one making the purchasing decision. That's why customer service is critical in retail and employees who provide excellent service are highly valued. In retail stores, employees are the face of the company to consumers. They define the service experience through an authentic greeting, listening carefully to customer wants and needs, assisting with products and services and efficiently completing the purchasing. But it is not just doing these steps that counts; it's how you do them that matters. Great customer service helps to build trust between consumers and the brand. Trust increases loyalty, the likelihood that a customer will shop at a particular retailer again and again. Recognizing the Customer's Mindset Customers value different things from retailers, customer service and their shopping experiences. This is the result of their mindset, or attitudes and expectations about the experience. Understanding that people approach purchasing in multiple ways allows you to personalize your service, delivering a much better customer experience. Take a minute to think about your own habits. What type of mindset do you have when you buy? • • • • • • • Do you shop for fun or only when you need something? Do you prefer to shop alone or with friends or f<:1mily? Do you research purchase options ahead of time? Do you follow retailers on social media? Are you loyal to specific brands or stores? Are you the first to purchase new technology? Do sales promotions, coupons, discounts and/or advertising influence you to purchase? If you're thinking that sometimes it depends on the situation, you're right. The things a customer values when purchasing one type of merchandise or service can be different from their mindset when purchasing something else-For example, socks versus a wedding dress. ©2019 NRF FOUNDATION. ALL RIGHTS RESERVED.