Retailers Struggle with Customer Experience Expectations
While many companies are now investing in new supply chain strategies, about half of retailers have admitted being behind the curve in their supply chain transformation.**
Along with a great product, the customer expects excellent service. The retail supply chain plays a vital role in the overall customer service experience. Efficiently run supply chains allow brands to deliver products to the customer quickly and at a low cost – increasing a brand’s competitiveness and customer satisfaction.
Get it wrong, and you risk damaging brand reputation with customers and losing out on repeat purchasers. A poorly managed supply chain can lead to delayed deliveries, poor communication, unexpected tariffs and ultimately impact how consumers perceive a brand.
Giving your customers what they want when they want it, at the lowest price is key to keeping them satisfied. The retail supply chain directly dictates these two vital markers of customer satisfaction. Year on year consumer demand and expectation for fast, efficient, transparent and flexible delivery is increasing. In 2018;
- 43% of US consumers expected companies to have much faster delivery times – a 23% increase on 2017.*
- 1 in 2 US consumers said that same-day delivery would encourage them to shop online more often.*
- 74% said that after receiving same-day delivery they are more likely to purchase from retailers again.*
Having an efficient supply chain can be your hidden weapon to exceeding your customer’s expectations on the delivery of their product, beating your competitors on the retail price and improving your profitability.
With this in mind, it’s no surprise that 61% of retailers are implementing new supply chain strategies and initiatives to meet consumers expectations.** With 88% of those retailers claiming that these new initiatives help them to exceed customer expectations and 84% claiming they allow them to give customers more control over their experiences.**
It’s a clear fact that having a proactive supply chain is key to providing your customers, the excellent service, visibility and flexibility they demand. Implementing systems that reduce errors and increase inventory efficiency will optimize your supply chain and give you complete control of your products’ from conception to delivery.
For many companies, trying to handle all aspects of warehousing, product fulfillment, and distribution, alongside product sales and development, can result in them spreading themselves too thinly. For most companies partnering with a dynamic 3PL/Fulfillment Services warehouse, to take over supply chain management is the swiftest and most cost-effective way to optimize the overall supply chain and stay ahead of the curve. Partnering with the right company will simplify and speed up the entire logistics process, reduce costs, and ensure fast and efficient delivery of your products.
Through effective supply chain management, you can take control of the customer journey to provide the highest level of service.
*Note: Data sourced from the ‘Customer-Centric Digital Supply Chain Fit for the Future Report.’
**Note: Data sourced from ‘The New Retail Supply Chain: A 2018 Retail Connect Delivery Report.’
