Retailers must start understanding customers beyond satisfaction. Most CSS capture a very basic level of attitude of customers. In a world with lesser and lesser opportunities to differentiate on a sustainable basis, tangibles aspects of the businesses are becoming equalised. While merchandising, pricing, conveniences would still be the hygiene, retailers need to develop deeper relationships with their customers. Only transactional traffic building tactics would not suffice. Retailers like Target, Trader’s Joe, Anthropologie, Amazon, Nordstrom, Farfetch and DMart have been able take the customers to a different level of connect. The core of those connect is emotional and not only rational. A fully connected customer tend to be 103% more valuable that a merely satisfies customers.[1] Even in case of discount store, this emotional connection delivers 37% more value in terms of higher purchase and more customers.
[1] Magids, S., Zorfas, A., & Leemon, D. (2015). The new science of customer emotions. Harvard Business Review, 76, 66-74.
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