What would encourage one of your customers to switch brands?
As detailed in a recent MarketWatch article, retailers Macy’s and Kohls are struggle to catch up to what journalist Tonya Garcia calls “the Amazon effect,” as evidenced by their weak holiday sales at the end of 2016. What’s more, both Macy’s and Sears recently announced more store closings in 2017.
By 2020, customer experience will overtake both price and product as a key brand differentiator, according to a recent Customers 2020 report.
Often, the thought of letting third-party sellers offer products alongside a retailer’s own is scary. But, that fear is only theoretical; in practice, retailers see compelling results of increased revenue, improved customer loyalty and retention, and increase in profitability. These are the results that the Marketplace model provides. Case in point: Darty. With 400 physical stores across Europe, Darty (part of Darty Group Plc) is the leading French retailer in consumer electronics and household electrical goods.