The importance of an innovative and integrated website and other online services has been highlighted today by a report that shows retailers could be losing out on millions.
The report from Head London found that the retailers in the study lost out on almost £500 million in potential sales, by failing to provide a fully integrated and digital customer experience.
The White Paper, titled The Customer Experience Deficit, claims that customers now move between various channels – from store, to website, to app – as they are browsing and deciding whether to buy.
As part of the paper, Oxford Economics analysed the retailers’ sales performance, and found a correlation between a strong, integrated customer experience, and sales growth.
Some of the worst performing retailers, which include Morrisons, Dixons, Phones4U and Homebase, missed out on tens of millions of pounds due to weaker multi-channel performance. Meanwhile, innovators such as Boots and John Lewis made up to £314 million in additional sales growth, which can be attributed to their integrated customer experience strategies.
Commenting on the findings, Paul-Jervis Heath said: “Too many retailers are simply playing catch-up with their competitors. But true service innovation is the primary way to stand out from the competition and maximise the return on investment in customer experience and technology. Innovation requires a slightly different approach to the norm, but it need not cost more or take longer. “