Rediscover your customers
Good retailers know their customers and understand what they want. Sounds simple? In fact, it's one of the greatest challenges facing the industry today.
Independent retailers know their customers inside out, thanks to their daily customer contact. Big companies don't have this advantage. They make their decisions in a head office, a long way from where their customers make their purchase decisions. Accordingly, retail companies put great effort into reaching potential customers. Each year they invest billions of euros in advertising in Europe alone. The question is: Do their target customers even notice?
Customer Centric Retailing, or CCR, gives today's retailers the tools they need to understand their customers inside out. This understanding is highly valuable, as can be seen from the market value of Internet-based companies such as Amazon, Google and Facebook.
In our experience, retailers can improve their margins by 1.5 to 2 percentage points by means of CCR, if properly applied. CCR is a process. It goes beyond traditional category management and marketing strategies. Ultimately it affects the entire company.