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Amplifying CX: customer experience and retail trends

Shopping Centre News attended Swinburne University of Technology’s Amplifying CX: What you need to do today and know about tomorrow. Customer experience is the new battleground for consumer-facing organisations (yes – retailers and shopping centres) as the industry fights for loyalty and customer needs increase.

Recently Forbes indicated 75% of companies report their top objective as improving customer experience and those companies who do it well will reap the financial benefits according to the ASX company financial results.

Bernie Brookes a spokesperson on retail and new Swinburne University Adjunct Industry Fellow said retailers need to consider two areas to remain successful:

1. Digital Disruption – rethink your omni channel presence but don’t over complicate or over invest.

2. Implications, competing on experience – has proven financial benefits and providing consistent high quality experiences to customers leads to loyalty. The best practice retailers put their own people at the heart of their customer strategy to create a culture which customer value.

Dr Sean Sands talked about the three biggest retail trends, many insights taken from the World Retail Congress:

AI – with one in three customers expecting personalised recommendations for both bricks-and-mortar, and online retailers this is a crucial statistic to jump on board.

Voice – 50 million Echo devices exist worldwide and it’s growing.

“In the next three to five years, we want you to be fully immersed in the Wayfair experience with AR, voice and other forms of technology. You should be able to say, here’s my space. I have a couple arm chairs and a side table. What can I do with this?” Mike Festa, Director of Wayfair Next

Visual – In a unique event activation, attendees experienced the app Snapchat for themselves with a specific event filter. The fact that  72% of millennials use Snapchat  and one trillion photos were taken by Snapchat uses last week is an important statistic for retailers and marketers.

Sean is Co-Director of the Customer Experience & Insight (CXI) Research Group and Associate Professor of Marketing at Swinburne Business School.

About the author

Shopping Centre News

Shopping Centre News (SCN) is in the ‘information business’, and is perceived as such by its readers. Daily industry news makes shoppingcentrenews.com.au a must-visit as part of the morning routine for those who want to keep right across the latest retail developments and events, while SCN's premium magazine is the leading publication for the shopping centre industry in Australia and New Zealand.

Known as the ‘industry bible’ SCN is printed five times a year with fascinating, in-depth features and important critical analysis written by known industry insiders as well as the popular ‘Guns’ reports, which ranks Australian shopping centre performances. Shopping Centre News is the only publication in the world that features centre statistics on Turnover, Turnover per square metre and Specialty Shop turnover per square metre for every major centre in Australia.

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