Initializing...

Top Retail Brands

Is Technology Enhancing Consumer Feedback

From understanding a customer's buying behavior to helping them buy what they like, technology has changed the shopping experience of a tech savvy customer. But is technology helping retailers analyze customer satisfaction? Let's know more.

Tags: Indian retail industry, Customer satisfaction, Online shopping experience, technology, Machine learning, Veeam, Zendesk India, retailers, mobile phones

BY Shwetha Satyanarayan  |  Mar 22, 2018  |  comments ( 0 )  | 
Is Technology Enhancing Consumer Feedback

As shopping shifts from physical to digital, so have the methods to understand a customer’s buying behavior, and the overall shopping experience. Gone are the days when retailers handed out feedback forms to customers and conducted a manual survey to understand a customer’s shopping experience.

On most occasions, customers rate their experiences even before they pay and check-out. While leveraging technology to understand customer experience has become a crucial game-changer for retailers, they agree that catching the customer experience then and there is the right way to go, if a retailer wishes to retain customer satisfaction.  

From personalizing experiences to analyzing a customer’s purchase pattern, emergence of big data and machine learning have helped retailers, whether big or small, to understand what a customer needs. No longer are giants like Amazon or Google only privy to this data, thanks to technology again, even small players are now in a place to receive customer information that are valuable to them.  

Explaining how emerging technologies can be put to strategic use by businesses for customer retention and engagement, Sandeep Bhambure, MD, Veeam, says, “Machine learning, for instance, can be a catalyst in predicting consumer behaviour and analysing customer feedback by offering right products and services using big data.”

While machine learning becomes significant to understand a customer, avoiding technical glitches and enabling hassle-free shopping is imperative too, he adds. “Near continuous availability of data is at the heart of delivering an unmatched customer experience and as businesses aim to deliver on-demand customer requirements, any downtime of application which might result in loss of critical data can impact a customer’s journey across various touch points. Victory over unpredicted downtime amongst other technical glitches will pave way for customer retention,” he says.

Technology converging sales
With online shopping, mostly over smartphone, taking over store visits and desktop buying, there have been enormous changes in the way a brand approaches a customer. For instance, tracking that a buyer is looking for a particular product on exclusive websites, e-commerce players have stepped up the way a buyer’s choice is influenced. If a customer is looking for footwear or a handbag on brand websites, Amazon could share links to the same product with better discounts to engage the customer.

Explaining how shoppers are now acquiring a taste for such convenient shopping with even chatbots assisting them with choices, K.T Prasad, Country Head, Zendesk India, says, “There is practically an app or a feature for every customer need whether it is to connect with customers over social media, or knowledge base for brands or simply even to get customer insights and answer their queries. Now, imagine, a chatbot in your voice talking to you and guiding through your shopping. Such technology trends encourage customer interaction and most often result in better performance of a brand. Most retailers are counting on such trends to converge technology and sales.”

Prasad highlights that retailers track customer behavior to understand their purchase patterns and why on some occasions cart abandonment is high. “Customer engagement has always been very important for any brand, but now with evolved technology like big data and machine learning, customer problems are resolved immediately, leading to better customer satisfaction. This is a positive trend, which will eventually lead to better sales,” he says.

Retailers take the trend forward
Understanding that customers need more access to information and mobile phones are the best way to reach them, most brands provide information, reports, updates in a way that is easily accessible via a mobile device. Most often, technology to keep data in a cloud environment and mobile applications are used to display important information so the customer can access it on the go. This has added to the convenience of shopping.

Stressing that there is strong growing trend for technology that helps understand customer satisfaction and retailers are trying to depend more on this data Zendesk VP SandieOvertveld, says,“Retailers understand that influencing a positive customer experience will increase satisfaction, resulting in higher rates of repeat sales, stronger relationships and increased revenues.The automated function of getting instant feedback from customers is definitely driving a change in the mindset of retailers. The trick now lies to convert data to make sales and drive profits.”

If you have a highly profitable and unique retail business, it’s time to let the world know about your brand. Participate in Franchise India Show, India’s first ever Franchise reality show only on Times Now and stand a chance to win prizes worth Rs. 5.2 Cr. Click here for registration.  





Related Articles

  • Home
    Indian LED industry to
    Indian LED industry is likely to reach Rs 21,600 crore by 2020 following governments decision to
  • Eretail
    Jabong attains a new
    In line with its customer centric goal, Jabong got its Net Promoter Score (NPS) process certified by
  • Eretail
    Croma leads the
    Croma, the multi-brand consumer durables and electronics retail chain of the Tata Group has always
  • Eretail
    Snapdeal's Exclusively
    Leading e-tailer Snapdeal has recently appointed Animesh Sharma as chief technology officer (CTO) of
  • Logistics & Supply Chain
    What machine learning can
    Machine learning can effortlessly quantify buying behavior over and over again, each time digging
  • Investments
    Freshdesk gets $50
    Freshdesk has acquired raise $50 million (314 crore) in series E round of funding for scaling
  • In Store
    Offline retailers take
    Online retailers are spending up to 7% of their total spends on technology while the share is just
  • News Feature
    Study: Mobile phones will
    Mobile phones will outnumber the human population by the end of 2014, reaching a staggering 7.3

Comments

Rating  

Please add your comment:

Not readable? Change text.

Enter the characters as seen on the image (case insensitive)

Notify me of followup comments via e-mail

Subscribe for daily newsletter