News

LoyaltyOne: Consumers less willing to share personal information with companies

BY CSA STAFF

CINCINNATI — Consumers continue to be cautious about sharing their personal information, according to an online survey conducted by LoyaltyOne, a global provider of coalition loyalty, customer analytics and loyalty services.

Among 1,000 respondents surveyed, LoyaltyOne found that 78% of them do not feel they receive any benefit at all from sharing information, up from 74% in 2011; less than half feel that companies use their personal data to better serve the consumer, an 11% slip from 2011; and 62% said they would share more personal data if it meant receiving relevant product and service offers, down from 66% in 2011.

"These responses point to an unmistakable trend. Marketers’ efforts to create relevant customer experiences through data need to be re-addressed or they run the risk of their efforts not resonating with customers," LoyaltyOne president Bryan Pearson said. "Consumers are disappointed. For years they’ve provided their valuable information and they’re not realizing something of suitable worth in return. If businesses don’t act quickly to demonstrate they have the consumer’s best interest at heart, they risk an erosion of the business-to-consumer relationship."

The survery also found that only 50% said they’d be willing to give a trusted company their religious affiliation, followed by their political affiliation and sexual orientation (both 49%), health information (36%), mental health information (26%), browsing history (24%) and smartphone location and number of sexual partners (tied at 15% each). Last on the list was their social security number (11%).

For detailed results of the report, click here.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

How Multi-Unit Retailers Can Improve Feedback Opportunities for Local Managers

BY CSA STAFF

By Dr. Gary Edwards, [email protected]

Localization is the name of the game in multi-unit retail. Large retail chains offer consistency, scale and other benefits, but if the brand fails to deliver exceptional experiences to local consumers, it’s unlikely that the retailer will gain any real traction in today’s highly competitive retail marketplace.

The most effective multi-unit retailers give local store managers the ability to mold retail experiences to local shopping preferences. Customer feedback plays an important role in shaping local customer experiences. However, many chains send volumes customer feedback to local managers rather than providing them with the summary information they need to make meaningful improvements to local experiences.

The bottom line? Multi-unit retail isn’t getting any easier, and stores live and die according to the quality of the experiences they offer their customers. Unless multi-unit retailers find new ways to put actionable customer feedback insights into the hands of local managers, their ability to reap the benefits of increased customer loyalty, brand advocacy and other rewards will be extremely limited.

The local retail dilemma
Local managers value customer feedback and see it as a cornerstone of Customer Experience Management (CEM). So the issue isn’t whether or not local managers will use customer feedback if it is offered to them (they will), but whether the feedback they receive will be presented in a manner in a format that can be easily translated into local improvements.

The problem is that local retail managers face practical challenges that complicate the CEM process, underscoring the need for a more streamlined approach to customer feedback analysis. These challenges include:

  • Lack of time. Local retail managers are often asked to do more with less. When chain retailers deliver reams of undifferentiated feedback to store managers, it usually goes untouched – not because local managers don’t think it’s important, but because they lack the time to sift through data for insights that apply to local customers.
  • Lack of analytical skills. Feedback reporting and analysis tools feature a level of sophistication that is beyond the skill set of the typical site manager. By asking local managers to do complex analytical tasks that they haven’t been trained to perform, brands almost guarantee that local stores won’t have the granular feedback insights they need to address the concerns of local customers.
  • Lack of brand-specific experience. Over time, site managers learn how to intuitively shape customer experiences for local customers. But like it or not, most chain retailers experience high turnover rates in local management personnel – and that means multi-unit retailers need to identify ways to bridge the experience gap until younger managers can accumulate brand-specific expertise.

Simply put, the local retail dilemma is that site managers need visibility to local customer feedback insights in order to create first-rate customer experiences. But in many cases, local managers lack the time, skills and experience to capture those insights in any meaningful way.

Translating customer feedback into local improvements
More and more brands are recognizing that customer experience management is primarily a local retail activity. Consequently, chain retailers are eager to push ownership and responsibility for the customer experience to local store managers. But the brands that are achieving the best results are the ones that provide store managers with tools that leverage local insights as well as global customer experience insights.

For example, rather than being forced to sift through large volumes of feedback data, local managers need streamlined reports that identify local customer experience issues and offer recommendations for local improvements. In fast-paced retail environments, managers should have the ability to identify and target customer experience improvements in a matter of minutes – not hours or even days after customers have informed the brand about the problem. They also need to be given the tools to rescue dissatisfied customers and make sure that their concerns are addressed promptly.

Additionally, local store managers need access to tools and resources that allow them to leverage global insights for local improvements. Social sharing solutions and similar technologies can go a long way toward distributing best practices and creating virtual knowledge centers, giving inexperienced local managers access to learnings that have proved effective across the brand. At the same time, brand executives need to promote opportunities to connect local managers through face-to-face gatherings, technology investments and other strategies.

Customer feedback can (and should) drive local retail performance. By actively supporting local store managers and improving their ability to implement actionable feedback insights, multi-unit retailers can significantly improve both customer experiences and local store outcomes.

Dr. Gary Edwards, chief customer officer at Empathica, is responsible for oversight of sales, marketing, client strategy, marketing science and retail insights. He is involved in solving business challenges with research and technology solutions. He can be reached at [email protected]


More Web Exclusives/Guest Commentaries

keyboard_arrow_downCOMMENTS

Leave a Reply

P.Lopez says:
Mar-31-2013 06:04 pm

Chatrandom
However, many chains send volumes customer feedback to local managers rather than providing them with the summary information they need to make meaningful improvements to local experiences. Chatrandom

P.Lopez says:
Mar-31-2013 06:03 pm

Chatrandom
However, many chains send volumes customer feedback to local managers rather than providing them with the summary information they need to make meaningful improvements to local experiences. Chatrandom

P.Lopez says:
Mar-31-2013 06:04 pm

However, many chains send volumes customer feedback to local managers rather than providing them with the summary information they need to make meaningful improvements to local experiences. Chatrandom

P.Lopez says:
Mar-31-2013 06:03 pm

However, many chains send volumes customer feedback to local managers rather than providing them with the summary information they need to make meaningful improvements to local experiences. Chatrandom

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
HOT CONCEPTS

Top 10 Must-See Stores … Fall Edition

BY CSA STAFF

The folks at Echochamber.com, a London-based consultancy, have a knack for rooting out hot retail concepts around the globe. Here’s a recap of the retailers who make up their latest “Top 10 Unmissable New Stores” report:

1. Loblaw’s, Toronto: Loblaw Companies Limited has transformed the famed Maple Leaf Gardens in Toronto —former home of one of the most famous hockey arenas in North America — into the ultimate upscale supermarket destination. The design pays homage to the history of the building and is presents food as theatre. For more on Loblaws Toronto click here. chainstoreage.com/article/loblaws-scores-big-toronto?ad=store-of-the-week

2. Louis Vuitton Island Maison, Singapore: The ultimate luxury destination, with a nautically inspired interior designed by Peter Marino.

3. 3×1, New York City: A denim atelier where customers can design their own jeans and then watch as they are custom made in front of their eyes. The space features three glass-enclosed boxes: Cut & Sew, Steam and Press, and Finishing.

4. Roast + Conch, London: From Hotel Chocolat, this chocolate and coffee bar tells the story of how chocolate is made, demonstrating the process on site.

5. Starbucks, Amsterdam: Located underground in the vault of an historic old bank, landmark, the space boasts its own in-store bakery as well as a stage for live music and poetry. For more click here starbucks.com/blog/our-newest-store-in-amsterdam-mingling-tradition-with-innovation/1196

6. M&S, Cheshire Oaks, United Kingdom: At 151,000 sq. ft., this is the biggest and greenest Marks & Spencer store to date. Environmental concerns played into all parts of the design and build.

7. Sephora, Sensorium: New York City: A pop-up interactive exhibit located in the warehouse next to Sephora’s Meatpacking District store (another must-see), the space brings the world of scent to life. Even the videos are scented.

8. Nike + Fuel, London: A high-tech pop-up with a cutting-edge design. Daily running classes and digital one-on-one consultations with real athletes are among the attractions.

9. Uniqlo, Tokyo: The company’s 50,000-sq.-ft. flagship in Tokyo’s Ginza district, is the brand’s biggest store in the world.

10. Victoria’s Secret, London: The brand makes its London debut with a super glamorous, 40,000-sq.-ft. store on Bond St. The three-level space features glass chandeliers, a VIP suite and a rich, luxe ambience.

See the full Echochamber report with photos.


More Hot Concepts

keyboard_arrow_downCOMMENTS

Leave a Reply

M.Mirevski says:
Jan-28-2013 12:42 am

If you're looking to save
If you're looking to save money, finding a good discount memory foam mattress can be a difficult proposition.The memory foam would mold properly to the body by the motion of body weight and height.king size memory foam mattress http://foammattressworld.com/king-size-memory-foam-mattress/ Memory foam accomplishes this in part through the way it reacts to pressure.From then till today, it has occupied a very prominent space in the mattress industry.

M.Mirevski says:
Jan-28-2013 12:42 am

If you're looking to save money, finding a good discount memory foam mattress can be a difficult proposition.The memory foam would mold properly to the body by the motion of body weight and height.king size memory foam mattress http://foammattressworld.com/king-size-memory-foam-mattress/ Memory foam accomplishes this in part through the way it reacts to pressure.From then till today, it has occupied a very prominent space in the mattress industry.

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...