More and more customers make purchasing decisions based on their personal values. According to IBM Research Insights, the number of purpose-driven consumers has caught up the segment of value-driven consumers, consisting of those who shop with their wallets in mind, looking to get the most value for their money.
When we think about customer service in retail, many companies think about friendly and helpful floor salespeople and the pleasant interaction with customers during their shopping experience. But while friendliness and helpfulness are certainly crucial for creating good in-store experiences, they are just the tip of the theoretical iceberg.
While we're living through the "age of information" and have access to more data points than ever before, retail has a data problem. With current POS systems and retail software, having individual customer data is only possible through memberships and rewards programs. This unfortunately paints a limited picture of your entire customer base.