Customers: The focus of a business

Customers are an important aspect of every business and retail is no different. A satisfied customer brings in both business and profits. There is always room for improvement in the way they are served. Read on to know

To be successful, a retailer should know how to do things differently. To put it more simply, of all the practices in retailing, Customer Relationship Management (CRM) is the need of the hour. If CRM is closely monitored and worked upon, a shoot-up in footfalls is inevitable. Here is a glance on the efforts that probably you thought were not important but can make a significant difference to your business.  

Analysing your customer
In the Indian retail world, a customer is treated as God and hence a lot of importance is given to them. A retailer should find out who their customers are and what they are seeking, followed by maintenance of their profiles with respect to their age, income, and occupation. They should also try and find out the customer’s likings and why customers shop at any specific store? Be it service, convenience, dependability, quality, promptness, or competence; such information about customer preference helps to devise strategies for customer satisfaction. Pricing is a vital facet that needs to be looked into. Offering competitive prices will help build the customer base. Efforts should not only be made for the existing customers, but an endeavor should be made to bring back lost customers and also at the same time should satisfy the new value-conscious consumer. A feedback is another way through which suggestions from valued customers can help serve them better.  

Customer service and relationships 

Analysing your customer is just the first step towards creating a larger customer base. Services available for the customers in a way should make them feel special and valuable. At times some of the impulse buyers buy products which they do not need. Some retail stores are very rigid about the return polices which leads to the loss of loyal customers. So retailers need to review and improve their return policies by making them more customer friendly. Vishal Mega Mart has set up an additional counter for the returns and has deployed special personnel to help customers make the necessary changes. Cash refunds should also be given to customers if requested by them. Offer the customers a ‘no hassle’ satisfaction guarantee, and it will definitely bring them back to you. 

People today are apprehensive to go out shopping, considering it to be stressful. Also as they work all day, it leaves them with no time to shop. To cater to these customers, a retailer can extend the store operation timings. Also to make shopping hassle free, have store attendants serve them efficiently with a smile.  

The advent of plastic money has taken the industry by quite a storm. People prefer to use cards instead of cash. So make sure you accept all variants of cards be it a Visa or a MasterCard and so on. It’s a known fact that in retail the top 20 per cent of your customers brings in 80 per cent of the business. Therefore it is very important to make the customers feel special. Keeping them updated with the latest happenings at the store and offers available for them will help pocket greater sales.  

Wrap Up
Your endeavour should be to let customers know how much you appreciate them and the business they bring to you. Always be ready to host them better every time they come to your store. Put these practices into place and watch the difference they will make to your business.  
 

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