The interesting thing in Retail is that eventually ,competitive advantage in location,merchandize assortments & price can be replicated by competition ,but Customer experience can be a unique diffrentiator. The difficult thing about this is that Retail brands have so many touch points with customers and how do you make each of these interactions “memorable”.
Many organizations,especially in growth markets & industries are already dangerously “out of synch” from their customers. One of the indicators of this is this Bain’s research that found 80% of companies believed they were delivering a superior customer experience while only 8% of their customers thought they were receiving a superior experience.
I believe that the key lies in not making the “customer experience” the accountability for any one function but rather making it a key company competency across function.
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