Digital Retailing, Returning the Human Factor to Sales

The COVID-19 pandemic has touched nearly every facet of life. It has been no different for retail businesses. While companies were already implementing enhanced digital strategies, this has only accelerated. Since early 2020, the way people shop and interact with retailers has fundamentally changed, and more than ever, retailers need a solution to support the complex needs and expectations of their customers.

Despite predictions that 54% of the world’s consumers will be vaccinated by September 2021, 46% remain apprehensive about returning to in-person shopping[1]. Even though a significant segment of the population wishes to continue their ecommerce habits, retailers still face the challenge of engaging and converting people into customers. Some platforms only increase this challenge by disallowing companies to interact with customers in ways that generate the best responses.

However, retailers can have solutions that include human interactions. Thankfully, this is where Vidyo’s retailing platform differentiates itself. By creating the most effective, consistent, systematic experience, Vidyo has created the right fit for companies looking to cultivate meaningful relationships with their customers, bridging the gap between digital and in-person experiences.

Some industries, like car dealerships, have been able to survive the pandemic by purely implementing digital strategies. During 2020, 30% of car sales were done virtually, a stark comparison with the mere 2% pre-COVID[2]. Customers are satisfied too, but selling a car is more than a transaction. Car dealerships seek to cultivate brand loyalty so that the customer will return for future car purchases allowing the dealer to capture monthly recurring revenue for the customer’s lifetime.

This can be done by offering a customized digital experience, like using VR and AR so that the customer can explore a car’s technology or feel as if they are sitting behind the wheel. Additionally, the Vidyo retailing platform allows dealerships to streamline the virtual car buying process so that is more satisfying, removing the customer’s feelings of coercion and pressure to make a buy decision. Instead, they are provided the information to make that decision when it is right for them. Other platforms include native video chatting features, requiring dealerships to use Zoom or other video conferencing tools, requiring familiarity with an external software.

Vidyo’s features don’t stop there. The platform is easily integrated with chatbots, social media, mobile apps, and in-branch kiosks so that customers can be reached wherever they are. At the same time, it is easy to create video calls with clients to address issues more personally, increasing first-call resolution rates and decreasing cost inefficiencies.

Vidyo makes it so that retailers can more efficiently apply the human warmth of a physical store to the online environment of ecommerce. Not only does the customer benefit from an improved experience, but the retailer is also more likely to get customers to up-sell, cross-sell, and return. The result is a lower acquisition cost compared to the customer’s lifetime value while seeing increased sales and revenue. It’s a win-win for everyone in the equation. With ecommerce here to stay, exploring innovative retailing platforms like Vidyo ensures you will continue to provide customers with the best optimal purchase experience.

 

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[1] https://www2.deloitte.com/global/en/pages/consumer-business/articles/global-retail-digitized-route-likely-to-continue.html

[2] https://abcnews.go.com/Business/consumers-shopping-online-cars-dealerships/story?id=76650042