Menswear company sets its sights on improving the customer experience
Tailored Brands has taken steps to identify shoppers and drive customer satisfaction.
The menswear company operates more than 1,400 locations in the U.S. and Canada, as well as digital channels, across a variety of brands. By partnering with ForeSee, Tailored Brands now has a solution that manages all customer experience (CX) intelligence from one centralized location.
Using the ForeSee CX Suite, Tailored Brands now listens to, captures, measures and benchmarks customer feedback across web, mobile, store or locations, and contact centers. As a result, the solution delivers a unified view of the customer, and provides scientific measurement of CX across the entire customer journey.
After completing a successful pilot program, the company is now ready to expand the suite’s functionality to measure customer satisfaction across all of its retail brands and omnichannel experiences, including web, store locations, and fulfillment. The CX measurement solution delivers methodology-backed, calibrated customer feedback and insights — the foundation needed to fully represent the customer experience at Tailored Brands.
“At Tailored Brands, we pride ourselves on providing world class customer service, so our goal is not just to meet our customers’ expectations, but to exceed them whenever possible,” said Mark Neutze, executive VP, store operations and real estate, Tailored Brands. “With the methodology behind ForeSee CX Suite, we will be able to better identify and act on important customer satisfaction drivers across all of our customer touchpoints.”
Tailored Brands’ is applying technology across its banners, including Men's Wearhouse, Jos. A. Bank, Joseph Abboud, Moores Clothing for Men and K&G. The company also operates an international corporate apparel and workwear group consisting of Dimensions, Alexandra and Yaffy in the United Kingdom, and Twin Hill in the United States.
Developers: New centers warrant new co-tenancy clauses
With department stores being replaced by gyms and office space, retail tenants who signed on for the traffic generated by traditional anchors are of the opinion that the co-tenancy clauses in their leases need restructuring. At a forum staged by Jones Lang LaSalle at its New York office yesterday, two noted mall developers agreed.
“We need to get together with all of our retailers and revisit co-tenancy. The way it stands now doesn’t make sense at all,” said Stephen Lebovitz, president and CEO of CBL Properties. “We will work with the retailers, but it all depends on how their sales go as new anchors establish themselves.”
Retail leasing managers worry that anchor back-fills like medical clinics and restaurants won’t bring shoppers to the mall like department stores did, but panelist Joseph Coradino, chairman and CEO of PREIT, begged to differ.
“I’m not sure I agree that restaurants don’t bring in shoppers. It’s early in the game,” he said, though he added that current co-tenancy clauses were "archaic.”
Coradino was sure of one thing: The move of malls toward more dining and entertainment options is an abiding reality. “Not too long ago all our centers were 50% apparel. Now it’s closer to 30 to 40%,” he said.
Lebovitz suggested that a different metric be created for the traffic-building contribution of non-department store anchors. “It’s hard to say that the Whole Foods shopper is not shopping the mall. What we see is the creation of customer shopping patterns of [grocery shoppers] coming to the mall and cross-shopping on other days,” he said.
Mall owners do have a responsibility to pick the restaurants that will deliver the most shoppers, Lebovitz said, noting that local, chef-driven restaurant concepts draw more rave reviews than customers.
“National chains like Olive Garden know what they’re doing in our environment and will do seven to eight million dollars in sales, whereas the local restaurant will only do two million,” he said.
Analysis: How acquisition of TaskRabbit will benefit Ikea
The acquisition of TaskRabbit allows Ikea to efficiently remove one key barrier (the dislike of furniture assembly) for a segment of customers that have until this point avoided Ikea.
Ikea' core customer is very online savvy. Magid's Retail Pulse study finds that younger customers with family (Ikea's core customers) will research purchases online prior to buying at a higher rate than typical furniture customers and engage in digital tools like Amazon Prime at a much higher rate. Fortunately, the physical nature of furniture and the desire to touch and feel has kept Ikea somewhat insulated from the "Amazon Effect." Ikea knows that this insulation is only temporary as digital tools advance and thus Ikea is embracing the digital needs of its core customers through this new capability.
This (acquisition of TaskRabbit) will have the effect of opening up Ikea to customers who may not have considered them in the past due to assembly avoidance. How big this "assembly avoider" segment is I’m not sure, but I think Ikea's move speaks to the fact that it is not insignificant.
TaskRabbit and Ikea both gain from this partnership due to the fact that TaskRabbit finds itself at the center of thousands of Ikea customers who have a very specific need that TaskRabbit can address. Ikea gains from the fact that customers searching for help with upcoming tasks (and who are thus at a key point in their purchase journey where Ikea wants to interact with them) will see Ikea offerings.
Ikea is addressing one of the key desires of the on-demand culture, which is to provide a service WHEN and HOW customers need it. Millennials desire not to be marketed to, but rather to be provided with a service offering that removes friction, and this partnership holds the potential to do just that.