THE NEW ROLE OF THE 'RETAILER"

Fund-House is approached with more requests for assistance from retailers than any other type of business. These 'retailers' can take any form: restaurants, apparel stores and boutiques, service providers from software developers to spas,and, although diverse in product and market they all have one,major thread in common: The Customer Experience or CX .

Apple Music Session

As we have discussed many times in this blog,to succeed in today's business environment:it is not just small companies and start-ups but the biggest, most established firms with great brands that know they must 'engage' to prosper.

A perfect example is Apple. About 18 months ago, Apple launched 'Today at Apple', a program designed to enhance its retail outlets by 'enriching the lives' of their customers. Note the words 'enriching the lives' which is the ultimate customer engagement.

 'Today at Apple' offers a slew of new training sessions designed to deepen customer knowledge of Apple's products. Currently Apple offers over 60 sessions, which include courses on: music, design, walking tours, video and photo labs, just to name several. It's the focus on content and creating experiences that stands-out and resonates with the retail community. Apple is the greatest brand in the world, but the concept of 'Today at Apple' can be applied to any retailer, of any size.

By developing workshops and experiences that attract customers into the store, Apple is creating a reason, other than to shop, to visit their outlets. The act of buying or pushing product gets a back-burner, and instead customers come into the store to learn and engage. And that process, inherently leverages the very products/services they are selling.

Let FundHouse assist in developing your retail CX  

Additionally, these sessions give local creatives a platform in their community - so it's a triple win: Apple, the artist, and the customer all win.

The END GAME

Retailers need to create a compelling reason for customers to visit their outlets - reasons that extend beyond making a purchase. We see examples of retailers creating co-working spaces, utilizing special events to draw in crowds, and are beginning to offer educational sessions to get foot traffic into their stores.

Fund-House has assisted many retailers in developing these non-traditional events and sessions which have and will be the 'new normal' in the retail marketplace. Sales are the goal, but creating a sense of community and becoming a destination rather than a quick-stop has far greater long-term value. 

Talk soon,

Jim Lavorato, Principal
Fund-House Ventures, LLC
jlavorato@fundhouse.us