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Friday, 31 August 2012

Retailers urged to 'understand customer needs to excel'

Retail managers have been encouraged to understand the needs and desires of their target customers in order to boost conversions and sales.

Susan Etlinger, an industry analyst at Altimeter Group, explained that it is highly important that those in the retail industry "piece together cause and effect".

This is made much more challenging today as retailers are seeing an increase in variables, as little as six or seven years previously.

As such, Ms Etlinger stated: "So the more you can understand what people actually like and respond to - the more effectively you can tune your sales and marketing strategies."

One of the major developments which has been seen in the retail industry over the past decade is the shift from the high street to online shopping.

Ms Etlinger has also tried to help out in this area by pointing out that "correlations and multivariate testing" has enabled companies to establish a link between online and offline worlds.

However, the expert was keen to underline: "This is a bit of a challenge, as all people are different and what works for one customer may not work for another."

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Posted by Richard Esquilant
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Source: The Sales Executive News

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