The traditional ways of doing business no longer holds water in today’s fast, new world. Retailers need to think up new tricks in order to attract the growing league of demanding customers who are looking for new alternatives in their shopping experiences. In order to give them the all new experience they are looking for, merchants need to device category strategies and come up with hard-to-resist assortments.
Ask any ecommerce services professionals and they’ll you about the importance of analytics and data that tell you how to recommend a particular product or a new launch. Here are some points that will help you understand how today’s customers think and act.
Put yourself in your customers’ shoes
The need of the hour for retailers is to more customer-centric, more so when the customer dictates the terms and it is up to the retailer to watch closely and gauge what he or she is looking for. Hence, every person handling the category strategy has to have particular focus on the customers’ specific needs, and what better way to understand this than thinking like the customer? If need be, you’ll need to assign a customer officer to take care of customer-centric improvements. Giving more importance to customer loyalty, and scrutinizing the social media will help you understand your customers better.
Better Category Strategies
You may already have a category strategy in place but it may not be enough unless it has the vital customer insights and are well aligned with your category management process. In order to develop a working category strategy you need to think of a well-designed process that has vital data inputs that focus on the tremendous opportunities that present themselves and need to be seized with the right initiatives. Each category’s role needs to be well defined in the portfolio. Moreover, the strategies you adopt need to be well coordinated with assortment, promotions as well as pricing, which is probably the most important of all.
Building relationships through personalization
Ecommerce services professionals know that the customer is no longer an anonymous entity, and it is time he or she is being treated so. It is vitally important to develop a more personalized and all pervading relationship with your customers. A customer still believes in being treated like a king and strongly believes that his or her expectations need to be given the due respect they deserve. These expectations are the deciding factors that are bringing in so many changes in every aspect of retail operations today. Category management is all about assorting according to individual tastes, whether it is an individual customer or an individual store. Pricing also needs to be customized, respecting the mood and sentiment that prevails, always keeping in mind the pricing of the closest competitors. With more retailers resorting to category management in a big way, failing to keep up spells doom for the others. Hence, talk to a professional ecommerce services company like Infognana today in order to get a better idea about what product assortment can do for your business.