Dynamic Business

I was recently invited to be on a conference panel with those considered to be the best of the best in retailing.  The aim of the panel was to advise an  audience of retailers what they needed to do to become the best of the best themselves.

The first panel member mentioned that the key to success  was customer service, the other retailers on the panel agreed and the audience started taking notes. This suggested that the retailers in the audience did not provide customer service.  It was then it dawned on me, the audience would all agree that they provided customer service, the group that were not providing customer service were the panel members themselves.

I have never met a retailer who has felt they did not provide customer service. To be in retailing you need a product to sell and a customer service approach to business, without either of these you will not have a business for very long. Customer service allows you to join the retailers club, but the best of the best do not provide service, that is why they stand out from the rest. The best businesses build a relationship with their customer.  The average retailer thinks about the transaction, whilst the best of the best focus on building a relationship with the consumers that enter their store.

What are the best of the best doing?

The best of the best focus on how they can provide value to the customer whilst the average retailer looks at the price of the product. Research around the world shows that price is not the main priority when customers go shopping. Their biggest need is for them to have more time and they have already given of their time to enter your store.  If price was the real key motivator we would all be buying more online than we are now. Internet shopping is growing at double digit figures, but the consumer still prefers to go shopping at businesses who they perceive as providing value to them.