Published 21 May 2022
EuroCIS 2022: Tomorrow is the new today!
The Leading Trade Fair for Retail Technology in Europe from May 31 to June 02, 2022 in Düsseldorf.
EuroCIS, The Leading Trade Fair for Retail Technology, held from 31 May to 2 June 2022 in Halls 9 and 10 of Düsseldorf Exhibition Centre is the international communication forum for innovations and trend themes, especially for technology in the retail trade. In 2022 the five Hot Topics are:
What to Do for a Customer-Focused Approach
“Customer orientation” is still one of the most popular and valid concepts in today's business world. It is still one of the most important strategies that every company must focus on in order to survive in the competitive conditions we live in.
So, what exactly does the concept of "customer focus" mean within companies?
In order for companies to give the correct answer to this question, they must first give transparent answers to other relevant questions within themselves and take action by planning step-by-step what can be done to spread the customer-oriented approach to the entire company and culture according to these answers.
As a company, it is important that we ask ourselves the right questions!
⦁ How well do we really know our customers and understand their expectations?
⦁ When and how do we communicate/interact/connect with our customers and what are the ways to make these items stronger?
⦁ Do we have standards for customer satisfaction? How do we develop?
The answers to the above questions supported by correct data will be directly related to the extent to which the "customer-oriented" approach is internalized within the company. From this point of view, the main 5 steps to be followed in order to fully understand the customer-oriented approach within the company by all departments and employees:
1. Good communication starts with listening – We must make sure we are good listeners.
2. Value Generation – The product alone is not enough, we must create value for the customer.
3. Process Design – We should design our processes with a customer-oriented approach.
4. Feedback – We must establish a culture of feedback inside and outside the company.
5. Brand and customer focus relationship – We must create awareness of our brand with a customer focus.
The use of artificial intelligence and machine learning is one of the most important technological challenges for many retail companies in the coming years. Especially in the area of data analysis, machine learning already plays a major role and supports retailers in sales forecasting, assortment management and pricing. In the future, retailers will rely even more on AI-based applications, which will then also use technologies such as image recognition and sensor technology. In the course of the expansion of digital pricing, dynamic pricing, which has been common in online retail for a long time, will gain in importance.
With the onset of Covid, Contactless payment was suggested as a method, popular shopping methods are highly preferred in this process and the use of banknotes is questioned. In addition, mobile applications are preferred over Classic shopping points.
The merging of online and offline retail often referred to as omnichannel, has received another major boost from the Covid pandemic. Click & Collect services have become the norm for many shoppers, and other services such as Click & Reserve are also becoming increasingly popular. Many retailers have also merged their loyalty systems from the online and offline worlds, giving shoppers a 360-degree view of the purchases they have made. In the future, it will be more essential than ever for every retailer to seamlessly connect digital and brick-and-mortar sales channels.
Since the launch of AmazonGo, a variety of automated store concepts have developed in which the physical shopping process is largely digitalised. Food and convenience retailers in particular will continue to invest in the further development of such "cashier-less" formats in the coming years. This will involve various forms, from Scan & Go and Tap & Go to the use of sensor technology and image recognition. Implementing a seamless store strategy often requires extensive investment in technological infrastructure. In this context, cloud-based applications are of great importance, as they enable flexible and quickly scalable implementation of innovative applications.