News Release

TimeTrade Fixes the $9.6 Billion-Dollar Retail Mistake

BOSTON—November 7, 2013—TimeTrade, a brand’s personal connection to customers, today introduced the industry’s first ‘high-touch/high-sell’ platform designed to make customers happier, and retailers more money by delivering the personalized experience that shoppers crave.

“We’re changing what it’s like to shop by getting customers the personalized attention they are demanding,” said Gary Ambrosino, president of TimeTrade. “Happy customers spend more; the best shopping comes down to the experience, and how people are treated.”

Happy Customers Spend More

TimeTrade’s new Responsive Engagement Platform is fast becoming the ‘secret weapon’ for major retailers eager to boost sales per square foot, dollars-per-customer, and powerful satisfaction rankings.

Best Buy, J. Crew and Sprint are among the major brands working with TimeTrade to transform how they engage with customers from browsing to buying, and how to get them back in the store next time they have a need.

People want to be guided, cared for, and helped.

“We bring customers into stores – even when there’s no door-busting, margin-killing promotion,” said Ambrosino.  “Once they’re inside, they get instant help from in-store product experts, and typically stay longer than they otherwise would, buy more, and become loyal.”

At the heart of this new ‘retail therapy’: TimeTrade’s responsive customer engagement platform, which addresses the four most critical moments that determine whether a customer opens his or her wallet – or walks out of the store empty-handed.

It’s Simple – When You Have the Right Resources

TimeTrade’s new platform lets even global retailers act like the best high-touch neighborhood boutique – with customized appointments, intimate knowledge of customers’ shopping preferences and on-the-mark recommendations.

Then it catapults this knowledge into revenue gold; after the day’s receipts are tallied, the TimeTrade platform  runs transaction-level analytics, by department, staffer, store or region, to pinpoint the top performers, so managers and associates can learn what they’re doing right, and replicate it.

TimeTrade created this new platform by drawing on the winning- and losing- experiences of more than 80 million customer interactions across many verticals, tested in some of the most brutal buying environments in America.

“We’ve learned there are four things that really count,” said Ambrosino, “and they’re the hidden pillars that drive sales – and loyalty.”

  • Make it easy to come in. Give customers the ability to schedule personal appointments – before they leave the house. Or, when they get to the mall. Either way, they’re in control. And that’s how they want it.
  • The best retailers offer concierge-class service. Sometimes that means expertise. Often, it means giving customers what they want, the way they want it. Customers will buy what they want, faster, and often, spend more. This ‘concierge’ isn’t necessarily human – it’s often a mobile-assisted device. Or a self-service check-in.
  • Pay attention. Retailers can now find out – fast – what customers really thought of the shopping experience. And then do more of what works, and fix what doesn’t.
  • Watch and learn. TimeTrade analyzes each customer interaction to see which staffers are superstars, and help retailers effectively clone what exceptionally talented salespeople do so well. The same insights highlight the best-performing promotions and campaigns.

New Survey Shows Consumers Want Personalized Experiences

TimeTrade’s newest survey of more than 1,000 consumers, to be released tomorrow, reveals what 92 percent of today’s exquisitely demanding shoppers really want – even more, perhaps, than everyday low pricing. Top findings include:

  • A more personalized experience.
  • Smarter, more helpful retail associates.
  • Faster service.  Nearly 80 percent of customers say they walk out if they don’t see what they want, or get the help they need, within five minutes.

“Retailers lose $9.6 billion in sales because of lousy service – every year,” said Ambrosino. “That’s a lot of unhappy customers – who came into a store, ready to buy, and didn’t. Isn’t it time to stop disappointing them?”

To learn more about how major retailers worldwide are increasing sales,e satisfaction, and loyalty with TimeTrade visit www.timetrade.com.

About TimeTrade
The world’s most well respected brands in retail, banking and industries worldwide use TimeTrade to deliver on their brand promise of a truly personalized customer experience.  By putting customers at the core, TimeTrade customers have increased sales, dramatically improved customer loyalty, and streamlined their operations.

More than 80 million connections have been made between consumers and businesses using TimeTrade’s scalable Customer Engagement Platform, directly translating into more than $2 billion in commerce every year.