What do you think makes a successful retailer? Does providing the best deals, or the latest deals, or most deals make a retailer successful? Partly!
What makes a retailer, a successful retailer is, when he provides the most desired and comprehensive deals, instead of curated recommendations. When in the inspire and plan phase, customers would like to have a curated list of all recommended deals, although, too many choices would probably make their decision process more difficult. When in the shop and book phase, customers would prefer a small list of the most comprehensive and targeted deals with detailed information.
A successful retailer also provides his customers the ability to browse content without any constraints on specific destinations or dates, however, customers do not want to be overwhelmed with a very large list of options. The more targeted and desired your curated results are, the more conversions! According to a study by PhoCusWright, 47% of U.S. travellers experience frustration online, going up to 78% in Africa. The main cause is information overload and lack of confidence that they are getting a good deal. So what differentiates retailers from each other, is their ability to understand customers’ requirements, their travelling habits, their browsing patterns, and accordingly suggest the best deals (also giving them an option to browse more related deals).
What else makes a successful retailer? His ability to prioritize tasks, his ability to let go of things, understanding that training your staff is important, knowing that competition is a priority, and last but not the least, ability to put customer before himself.
What do you think makes a successful retailer? Let your thoughts flow via the comments section below.