Good Friday Morning,
Zomato’s IPO took the internet by storm.
One of the country's first initial public offerings by an internet company, no doubt about the hype it received. Zomato is truly paving the way for other Indian start-ups to go for IPO in Indian markets.
Indeed a great week for Indian Startups!
In today’s edition:
Findings show that to survive in a post-Covid world retailers will need to make new investments in CX tools that provide instant customer engagement in order to maintain high sales in 2021.
Despite changes in communication, nearly all respondents (97 percent) believe retailers are working to deliver a positive customer experience. But, only 43 percent of all respondents agree this effort is making a tangible difference, meaning that 57 percent of customers believe brands still need to do more to align with their expectations.
42 percent of consumers said the perception that the brand offers good value for money is a top driver.
At the very start of this year, over one-third of consumers admitted they considered breaking up with a brand due to poor CX, according to Wilkinson-Brown. Unfriendly staff (25 percent) and slow service (21 percent) were the top reasons consumers considered breaking up with a brand.
One of the most prevalent demands from consumers is more access to chat features.
Consumers are no longer doing business with brands solely because they enjoy their products or services
A clear majority of respondents (90 percent) said they will pay more for an identical product if it comes with a better customer experience.
Learn more here
Summer is fast approaching. That means one thing: Intelligent e-commerce and retail brands are preparing for the holiday season. Why? Simple. It’s the busiest time of year for shoppers, no matter the deals. But that’s not the only reason.
Christmas in July has become an international phenomenon. Brick-and-mortar brands and e-commerce sellers have started to cash in. It’s the first year after a huge uptick in online shopping.
Christmas in July has omnichannel brands thinking about showrooming and webrooming.
What Is Showrooming?
It’s the act of window shopping in-store and then buying online. It’s become a more popular way to shop for the holidays.
What Is Webrooming?
Webrooming is the reverse of showrooming. Many people compare prices online from their favorite retailers. Once they find the deal they want, they walk into a brick-and-mortar store to buy the product.
Tips To Prepare For Holiday Showrooming And Webrooming
Here’s a list of actionable steps that retailers and etailers can take to prepare for the holidays.
1. Analyze Data For Successful Strategies
2. Develop An In-Depth Marketing Plan Or Promotional Plan
3. Review Logistic Plans To Meet Holiday Shipping Demands
4. Review Your Inventory
5. Ensure Your Website Is Holiday-Ready
State of retail post COVID-19
I had an amazing conversation with Dharmender Khanna, Head of Digital Transformation, SSIPL Retail LTD.
Here are some key highlights of their conversation:
How are retailers approaching e-commerce during COVID-19?
Post-COVID, customers became more digitally aware & were very quick to adapt to the digital channels. We expanded our online presence aggressively & were able to generate 2x sales through online channels vs offline during the month of May 2021.
What led to Lotto winning “Best Digital Customer Experience Awards of the year in retail?”
We conducted a survey with our customers where 84% of them said they are fed up with the spam SMSs & email & we didn’t want to become another such brand. This is why we turned to Xeno’s CRM which enabled us to reach out to our customers in the way they want.
Why choose Xeno?
The people at Xeno were always talking about how we win together & the kind of commitment Xeno provides always made us more confident about achieving our revenue goals.
Catch the full conversation here
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That’s all for today folks. Hope you liked today’s edition.
Stay in & stay safe :”)