Adapting to the next normal in retail: The customer experience imperative

The COVID-19 crisis has led to dramatic shifts in consumer behavior. Retailers will have to work hard to meet ever-evolving customer experience requirements in order to win and remain relevant.

The COVID-19 pandemic has upended the retail industry, forcing the closure of physical stores and causing uncertainty for the future of the in-store experience. These abrupt shifts have left many retailers scrambling to effectively serve customers through other channels. Digital-first and omnichannel retailers have pivoted more easily, but retailers that prioritized physical stores and face-to-face engagement over omnichannel strategies have struggled to respond.

For retailers, the starting point matters in a crisis. Organizations that can quickly reimagine their omnichannel approach to create a distinctive customer experience will recover faster from the pandemic. Analysis of the financial crisis of 2008 shows that customer experience leaders saw a shallower downturn, rebounded more rapidly, and achieved three times the total shareholder returns in the long run compared with the market average (Exhibit 1).

Συνέχεια ανάγνωσης εδώ

 
Πηγή: mckinsey.com