Customer experience is no longer a one-way street. Consumers today seek instant access to frictionless sales, access that looks set to grow as technology continues to unlock possibilities around agile user experiences.
Responsive leaders, on the other hand, are seeking to resolve rising tension between the need for predictability and a lack of predictability. This is why innovation is necessary to serve the customers of tomorrow, says Mike Arauz, founding member of August Management Consulting.
“Retailers [need] to change how their organisations operate and to move to a more responsive operating model where they can share and access information easily and can learn and adapt continuously,” Arauz says.
What organisations need to do culturally and from an operations standpoint is figure out how to learn and adapt to develop their capacity to sense what’s going on in the market.Mike Arauz, founding member, August Management Consulting
Mike Arauz, Founding member, August Management Consulting
All these companies are operating in a time of exponential change. Things are changing so fast and it’s so challenging to keep up.
Everybody is carrying around little portable computers that have instant access to online shopping. A retailer’s system can lower the friction to completing that purchase, that – instant gratification.
So what organisations need to do culturally and from an operations standpoint is figure out how to learn and adapt to develop their capacity to sense what’s going on in the market.
A typical retailer’s got hundreds, thousands of employees out there in the stores talking to customers every day.
So they talk to customers and they’re hearing all this information about what’s going on in their market that customers care about, about changes in consumer behaviour. What happens to that information?
What’s really important for retailers is to change how their organisations operate and to move to a more responsive operating model where they can share and access information easily, can learn and adapt continuously, and where they can empower people inside and outside their organisation to help them be successful.
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Innovation in Retail highlights the technologies that will shape the retail sector in the next 2-5 years. Download the Retail Innovation white paper to find out more.Find Out More