One prediction everyone appears to agree on is that eCommerce is here to stay. Physical retailers have therefore learned to contend with the doomsayers who have foretold their death a million times over. While we agree that eCommerce isn’t going anywhere, it’s important to remember that U.S. eCommerce sales were just 10 percent of total retail sales for Q3 in 2019, which means 90 percent of transactions are still taking place in the store.
Clearly, the in-store experience for many brands remains an extremely popular and powerful relationship-building channel in 2020. However, eCommerce is challenging physical retailers in other respects, including the level of personalization expected by customers. To remain competitive means brands will need to focus on delivering modern loyalty that fosters engagement on every front.
Physical retailers must first be able to identify customers and then begin the process of understanding how they engage with their brand. This comes from integrating with existing POS and eCommerce systems to collect and utilize in-store and online data to generate a 360 degree view of their customers.
Brands that layer data will see their customers’ preferences emerge for the channel they like for communication, the best day and time to reach them, the types of offers they’re interested in, and much more. By embracing cloud-based technologies, physical retailers are better able to deliver personalized offers based on individual customer preferences and a frictionless customer experience both in-store and online.
Modern loyalty addresses the importance of marketing across the entire lifecycle, bringing people from “customers” to “loyalists” to “superfans”. Through the creation and delivery of personalized journeys, physical retailers will be able to effectively drive customer lifetime value and ROI in 2020 and beyond.
Discover New Insights
There’s much more to cover to help brands innovate the customer experience for the future. Download the new ebook, The Future of Customer Loyalty – Top 5 Strategies for Driving Relevant Customer Experiences in 2020 and Beyond.
In this guide, learn about the top trends shaping modern loyalty programs and discover how to:
- Break down the barrier between in-store and online
- Create an engaging omnichannel experience
- Deliver customer mobility in 3D
- Measure loyalty in new ways, and
- Provide next-level personalization
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