Retailers losing big bucks by not getting personal, reveals survey
Retail Customer Experience
Retailers could boost revenue by 5 percent if they stepped up their game when it comes to customer experience and providing personalized service. In fact, as a new TimeTrade survey reveals, millennials are willing to pay up to 20 percent more for a better retail experience.
TimeTrade Raises $6.3M in Series E Funding
TimeTrade, a Boston, MA-based provider of appointment-driven personalization platform, raised $6.3m in Series E funding. The round was led by new investor Origami Capital Partners with participation from Ascent Venture Partners and other existing investors. In conjunction with the funding, Origami Vice President Julie Klaff joined TimeTrade’s board of directors.
Lagging In-Store Personalization Cost Retailers $150 Billion In 2016
The lack of in-store personalization remains a major pain point for retailers: 49% of U.S. consumers still say they “never” or only “sometimes” receive personalized service while they’re in a store, according to a survey from TimeTrade.
Retailers Miss Out On $150B From Lack Of Personalization
A new survey conducted by software and customer experience analytics company TimeTrade Systems indicates that a lack of personalized in-store shopping is causing brick-and-mortar retail providers to lose out on revenue. Here are some of the key findings.
Retailers Missed Out On $150 Billion In 2016
Disappointing shopping experiences are costing U.S. brick-and-mortar retailers serious money, according to the latest TimeTrade State of Retail survey of U.S. consumers, which suggests that retail stores left about $150 billion in potential revenue on the table in 2016.
Why brick-and-mortar retailers need to go digital with analytics
70 percent of shoppers in a TimeTrade survey indicating they’d like brick-and-mortar sales associates to know if they left items in an online cart so they could answer questions.
To Learn Relationship Selling And Close More Sales, Dissect A Movie Script – Here’s Why
The Retail Doctor
TimeTrade recently reported a better customer experience can boost a retailer's revenue by 5%. In a world of plunging margins, that is huge.
Survey: Retailers Missed Out on $150 Billion in 2016 Revenue by Failing to Provide Shoppers with Personalized Service
MR - The Menswear Industry's Magazine
Disappointing shopping experiences are costing brick-and-mortar retailers serious money, according to the latest TimeTrade State of Retail 2017 survey of U.S. consumers. In fact, the State of Retail 2017 survey results suggest that U.S. retail stores left about $150 billion in potential revenue on the table in 2016 by failing to offer shoppers the personalized shopping experiences they want.
These 5 Retail Innovations Could Actually Make You Want to Shop in a Store Again
TimeTrade found that 59 percent of millennials say they would spend more if a personal shopper proposed suggestions. The distinction is that not every sales associate is trained to be a personal shopper, and not every customer believes they have signed an invisible contract to receive style tips.
Ignoring personalization can cost a retailer, reveals survey
Retail Customer Experience
Better customer experience can boost a retailer's revenue by 5 percent and retailers missed out on $150 billion in payback last year in failing to provide personalized service to consumers, according to the latest latest TimeTrade State of Retail 2017.