Rudra believes that technology has been the key enabler in the retail industry. It has helped improve and personalize buying experience.
“For businesses, it has helped streamline and automate processes that eventually help in increasing sales. Tech-enabled solutions can improve the customer retention rate, and offer cost-saving benefits to the company,” he noted.
Tech: A Key Enabler
Here are a few technologies that Rudra believes in:
Virtual Services and Digitization of Offline Model: It is critical to have your brick-and-mortar offering on digital platforms to not lose out on your customers.
Logistics as a Service (LAAS): All brands depend on a robust supply chain model and strong logistics support forms the backbone of any good supply chain.
Data Analytics: If you are taking any decisions on your business without reviewing the data then you are bound to fail sooner or later.
CloudTailor is reviewing and analyzing heat maps on its website and app on a regular basis to identify the gaps and where users are dropping out. It conducts customer research and surveys to identify their pain points and come up with solutions accordingly.
“It is important to keep in mind that our existing customers are more important than acquiring new customers as they would not just be loyal towards your brand but also would promote the business through word of mouth. And a strong retention strategy is crucial for any business,” Rudra asserted.