High Street will never be the same
No one can deny the revolutionary changes the consumer goods marketplace has undergone in recent years. How many times have you thought, “We bought that appliance there, but that shop has gone out of business and disappeared.”
Whether you call it High Street or Main Street, it’s not what it used to be. And the key is not survival of the fittest, but survival of the fastest and whoever offers the most gratifying customer experience. Whether or not you can process orders in Realtime can literally make or break your business in the 24/7 marketplace.
Manufacturers team up
Luckily, one player has recognised the demands of the market and offers services to both original equipment manufacturers (OEMs) and retailers to reduce both time-to-market and time-to-consumer. Tradeplace, an initiative of a number of major globally-operating OEMs, connects retailers and manufacturers to improve order management, data quality and support complex processes related to order management.
“But to be ahead of the game, both manufacturers and retailers must constantly anticipate what consumers’ next level of expectations will be so that they can exceed it.”
Tradeplace is a service provider that connects retailers directly to manufacturers free of charge through an online platform. It offers up-to-date product information, availability, prices, product pictures and detailed specifications. Orders can be made directly, the status of orders can be checked at any time and the service is available 24 hours a day, 7 days a week.
One retailer in the UK was even able to reduce the average time to complete an instore sale from 20 minutes to just 5 minutes using Tradeplace.
Making both manufacturers and retailers futureproof
The OEMs invested in Tradeplace want to make both manufacturers and retailers futureproof in an ever-changing and ever-evolving marketplace that has been spurred on by the rise of ecommerce. The traditional way manufacturers worked with retailers by simply sending their inventories to the retailers is being reshaped, and in this new normal, customer experience is paramount.
The key element is customer experience expressed by the Net Promotor Score, or NPS. In order to increase NPS, or a consumer’s drive to be an automatic ambassador for your brand or product, you need to exceed customer expectations. This is the power of traditional word-of-mouth marketing coupled with state-of-the-art Realtime technology.
But to be ahead of the game, both manufacturers and retailers must constantly anticipate what consumers’ next level of expectations will be so that they can exceed it. At a certain point, customers will experience an element of normality in any top-notch customer service.
Staying ahead of the curve in customer experience
The idea is to anticipate and act upon the next level before complacency sets in. If the entire order process is taken care of, there is room to experiment in other factors of customer experience such as in delivery and shipping or customer contact.
Every aspect of order management is being re-examined in the supply chain, and activities that were once considered the responsibility of one player in the supply chain are now the subject of experimentation by any player in order to enhance customer experience. These steps in the supply chain remain unseen by the customer, as long as what he or she sees exceeds expectations.
The only certainty for any player in the current and future marketplace is that nothing will stay the same and that customer experience must not plateau.
A win-win for everyone
To stay ahead of the game, and ultimately to survive, any convenience that is expedited between
manufacturers and retailers will promote any convenience ultimately experienced by the customer later in the supply chain.
Tradeplace offers that convenience early on in, and throughout, the supply chain process. A win-win platform for all parties involved: manufacturers, retailers and consumers.
Interested? Please contact us.