EDITED Releases Results of Study on Customer-Centricity in Retail
March 28 2024 - 7:17AM
Business Wire
EDITED’s new research shows retailers face
challenges in becoming customer-centric and offers actionable
insights to drive transformation.
EDITED™, the leading global retail intelligence platform, is
excited to release the findings from its Customer-Centricity Index
Self Assessment – a first-of-its-kind benchmarking tool designed to
help retailers audit their customer-centricity capabilities and
provide a tailored roadmap for transforming retail.
With participation from 400+ retailers worldwide, EDITED
conducted a comprehensive analysis, illuminating the current state
of customer-centric practices within retail businesses. Respondents
spanned geographies, company size (revenue and headcount), and
industries such as apparel, footwear, and accessories, beauty,
homeware, and department stores, providing a diverse and
representative sample for analysis.
The report evaluated retailers across the end-to-end value
chain, asking questions about assortment strategy, personalization,
and customer interaction at omnichannel touchpoints.
Key findings from the report include:
- Non-Linear Progression: Contrary to the hypothesis,
respondents did not climb the customer-centricity curve linearly,
but rather are tackling multiple facets of the curve at once in
silos across the business.
- Project-Based Initiatives: Instead of integrating
customer-centric practices into the fabric of their business, many
retailers are performing one-off projects that are disconnected
from other areas of the company.
- The Need for Technology: Many companies face challenges
in leveraging technology as much as needed to create automated,
sustainable practices to become customer-centric.
The report, now available on EDITED’s website, goes into more
detail about these findings and shares how companies can utilize
technology to connect their data and create repeatable, automated
processes for integrating customer-centric practices into the
entire business.
“The shift from product-centric to
customer-centric merchandising means retailers must understand not
just what makes them money, but who makes them money. We designed
this assessment to empower organizations to evaluate their position
regarding customer-centricity, enabling them to enhance their
strategies and deliver exceptional customer experiences. We are
excited to share the results in our report so every retailer can
continue their journey to full customer-centricity with actionable
insights.”
- Shellie Vornhagen, CMO at EDITED
Access the full report here and learn more about EDITED’s
commitment to driving retail innovation at edited.com.
About EDITED:
EDITED is the world’s leading AI-driven retail intelligence
platform that empowers brands and retailers with real-time decision
making power that drives profit and inspires customers. We help
retailers increase margins, generate more sales, and drive better
business outcomes through AI-powered intelligence that fuels
automation. The world’s most successful brands and retailers use
EDITED’s platform to get closer to their best customers and
future-proof their business.
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