EDITED’s new research shows retailers face challenges in becoming customer-centric and offers actionable insights to drive transformation.
EDITED™, the leading global retail intelligence platform, is excited to release the findings from its Customer-Centricity Index Self Assessment – a first-of-its-kind benchmarking tool designed to help retailers audit their customer-centricity capabilities and provide a tailored roadmap for transforming retail.
With participation from 400+ retailers worldwide, EDITED conducted a comprehensive analysis, illuminating the current state of customer-centric practices within retail businesses. Respondents spanned geographies, company size (revenue and headcount), and industries such as apparel, footwear, and accessories, beauty, homeware, and department stores, providing a diverse and representative sample for analysis.
The report evaluated retailers across the end-to-end value chain, asking questions about assortment strategy, personalization, and customer interaction at omnichannel touchpoints.
Key findings from the report include:
- Non-Linear Progression: Contrary to the hypothesis, respondents did not climb the customer-centricity curve linearly, but rather are tackling multiple facets of the curve at once in silos across the business.
- Project-Based Initiatives: Instead of integrating customer-centric practices into the fabric of their business, many retailers are performing one-off projects that are disconnected from other areas of the company.
- The Need for Technology: Many companies face challenges in leveraging technology as much as needed to create automated, sustainable practices to become customer-centric.
The report, now available on EDITED’s website, goes into more detail about these findings and shares how companies can utilize technology to connect their data and create repeatable, automated processes for integrating customer-centric practices into the entire business.
“The shift from product-centric to customer-centric merchandising means retailers must understand not just what makes them money, but who makes them money. We designed this assessment to empower organizations to evaluate their position regarding customer-centricity, enabling them to enhance their strategies and deliver exceptional customer experiences. We are excited to share the results in our report so every retailer can continue their journey to full customer-centricity with actionable insights.”
- Shellie Vornhagen, CMO at EDITED
Access the full report here and learn more about EDITED’s commitment to driving retail innovation at edited.com.
About EDITED:
EDITED is the world’s leading AI-driven retail intelligence platform that empowers brands and retailers with real-time decision making power that drives profit and inspires customers. We help retailers increase margins, generate more sales, and drive better business outcomes through AI-powered intelligence that fuels automation. The world’s most successful brands and retailers use EDITED’s platform to get closer to their best customers and future-proof their business.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240328527868/en/
