You would be living under a rock if you haven’t heard of the number of retailers closing their doors throughout Australia at the moment. But we’re here to pose the question… Do you think it’s just the retail industry that should be worried?
Couldn’t we all learn from the current retail climate? No matter what industry we’re in?
What do all of these businesses have in common?
Now in 2020, we see the whole brand of Holden fold completely with close to 600 redundancies throughout SA and NZ.
So again, are we sure it’s just the retail industry that should be concerned?
Don’t be another statistic! We are so passionate about a clients experience when they interact with a business, we feel as though it is such a huge contributing factor for any business to succeed.
The battle is as old as time – Wages Vs Client Experience.
Yes, wages are one of, if not THE biggest expense for a business but what is the real cost of cutting back on staff serving the client?
Looking at each of the businesses listed above, there are a combination of factors at play here as to why they’re no longer with us. Some would argue the investment back in their staff was one of the first things to be cut. Not just in a sense of physical working hours being given to them but also in the sense of training and development. If the staff were being trained in what is required to deliver a strong customer experience, would the end result have been different?
Another contributing factor may have been if they were in or out of touch with who their customer really is. What drives their customer to purchase from them or what is it that their customer really values are both questions every business should be asking themselves on a regular basis. Businesses exist to serve a need, plain and simple.
Take a minute to reflect. Whether you’re a business owner or an employee in a business, what NEED is your business FULFILLING right now? Maybe you’re a plumber that is fulfilling your clients need to fix a leaking tap. Or maybe you’re a physiotherapist that is fulfilling your clients need to ease their back pain. Both are offering up a service or a product that serves a need for their client. Is your business still on track?
Lastly, did each of these businesses take a look around the corner?
Were they all up to date with where their industry is headed overall? Some may say that the retailers that are closing doors, are not keeping up to date with the technologies available to retailers now. Targeted digital marketing, technologies used to enhance the clients experience, updated product lines, all are aspects of a business that need constant attention.
We would love to hear your thoughts on this topic. Is it just the retail industry that should be concerned and maybe we could help some other industries out there see around the corner? What are we, as consumers looking for now? What makes a brand or a business so great?!