Get Genuine Insights
Unlike online retail platforms, the physical retail businesses rely on only a small pool of Data to drive their strategic decisions. Keeping in mind that the costs of running a boutique are relatively high and constant, it is imperative for management to be able to have access to reliable data in order to drive their business efficiently.
Know Your Audience
While Know Your Customer (KYC) tools such as CRM have become a retail industry standard over the last two decades, store operators still lack what is already available to online retailers: A Know Your Audience (KYA) tool that helps them understand what is the actual audience that visits their locations daily.
Drawing on decades of experience with Data management and Retail operations, the DynaLux teams and pools of independent consultants is perfectly suited to provide analysis and recommendations to clients on how to address the specific challenges facing the retail industry.
As a training provider, DynaLux has developed innovative content and methods in order to facilitate the continuous improvement of retail and management staff performance with a focus on both technical and non-technical skills. Drawing on the learnings captured through Data, DynaLux can customize the training material content to the specific needs of the client.
The Pain Points of the Retail Industry
With so many touch point and the continuous exposure of consumers to brands, products and services online and offline,it is increasingly difficult for a brand to gage the level of engagement of the consumers. What if one was able to understand how boutique visitors engaged with one’s brand?
During their visit to boutiques, customers are living an experience that will define their perception of the brand that will go beyond the product or service. How can the brand management ensure that the in-store customer experience is in line with the core message that the brand stands for?
Depending on one’s positioning, conversion rates can be as low as single digit percentages of the traffic recorded. This implies that the majority of people who visit physical stores do not convert. How can one understand what were the reasons behind the non-purchase behavior? Is the issue linked to inventory management, customer experience, price positioning, etc…?