Wiser Solutions, an omnichannel retail analytics platform delivering actionable data for better decisions, today released its Wiser Retail Benchmark, the company’s first report outlining the top retailers that excel at delivering top-notch customer shopping experiences and the elements behind that success. The data was collected through Wiser’s popular consumer mobile app, Mobee, which utilizes the power of crowdsourced intelligence to collect real-time shopper insights.
The report surveyed over 1,000 consumers on 15 retailers, including but not limited to Target, Best Buy, Costco, Sears and Kohl’s. Wiser looked at four key elements that drive the customer shopping experience: people, products, shopability and sentiment. According to the report, a retailer’s ability to transform the customer journey from needs and wants to selections and purchases depends greatly on its ability to execute in each category.
“We’re in a new age of retail where every aspect of the shopping experience is scrutinized by consumers. However, this is driving the industry to innovate and improve at a rapid pace,” said Andy Ballard, CEO of Wiser Solutions. “This benchmark provides retailers with valuable insights into their business, from customer sentiment to how they measure up to their competition. We’re also providing brands with critical information as they work with retail partners and develop go-to market strategies.”
In the Retail Benchmark, Wiser ranked retailers in hospitality, variety and selection, ease of shopping, and location in order to determine which strategies offered customers the optimal experience. While these categories seem obvious for retailers, they can be overlooked and lead to poor customer experiences. For example, Best Buy ranked the highest on customer assistance as nearly 75 percent of customers surveyed reported being offered assistance within three minutes. At the Dollar Tree and Walmart, customers reported a stark contrast – 70 percent of customers were not offered any assistance by sales associates.
As a result of the data, Wiser provides strategic guidance for retailers to improve on the categories in which they ranked low by using examples from the retailers who ranked highest. Top retailers use strategies such as:
- Balancing sales associates’ tasks to increase customer interactions and assistance.
- Closely monitoring accuracy of product and promotional displays, as well as out-of-stock levels.
- Increasing efficiency and convenience for customers by updating floor plans, optimizing checkout experiences and providing more access to information on loyalty and rewards programs .
About Wiser Solutions
Wiser Solutions is the leading provider of actionable data for better decisions. Wiser collects and analyzes online and in-store data with unmatched speed, scale and accuracy. The Wiser platform then blends these insights with advanced workflow software to drive business value for brands and retailers. Using a unique combination of data science and human validation, Wiser offers integrated solutions for every aspect of retail, all in one place. Learn more at www.wiser.com and follow @WiserData.