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The CEO’s new mandate: Own the customer experience

Enabled by the digital revolution, customers have taken control of the purchasing journey. How are retail CEOs rising to the challenge?

Overview

While new digital disruptions seem to appear daily, at its core, the retail equation remains ess​​entially the same. Fundamentally the way retailers build successful value propositions have not changed. They include providing the right products and services, offering good value for the money and focusing on convenience by offering flexible shopping hours, nearby stores an​d popular product ranges.

When transactional power shifts to shoppers, meeting their needs becomes more important than any other strategic priority. In response, CEOs need to take charge of delivering a compelling end-to-end customer experience.

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Background

Enabled by the digital revolution, shoppers have taken control across the purchasing journey.

Many retailers realize they need to make significant investments in supply chain performance to remain competitive. They understand their options for supporting consumer needs in this area and know where to spend money to achieve these goals. Despite this knowledge, closing current gaps in logistics performance remains difficult due to the challenges inherent in scaling up new approaches.

"Even the most amazing shop​ping trip can quickly sour if the services or solutions making up the customer experience do not deliver from the user's perspective."

Key Findings

The customer has gained control over when, where and how he or she makes a purchase.
Retailers need to understand how to surprise and delight them at every stage of the journey.

Recommendations

Powerful customer experiences help generate actual benefits for both customers and retailers, but even the most amazing shopping trip can quickly sour if the services or solutions making up the customer experience do not deliver from the user's perspective. If customer experience is all about understanding what specific shopper segments really noticed ​​and valued during their purchasing journeys and using that insight for investment purposes, service design is all about designing and d​eveloping how the service and the associated solutions deliver that experience.

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