The retail sector has been through mulple transformaons. As business spaces went from small shops to department stores to mega shopping centers, consumer expectaons also evolved. The truly revoluonary change for this sector, however, was adding technology to daily business pracces and shopping rounes. We moved from store-centrism to an era where consumers can buy customized products on their digital devices anyme and anywhere in the world. This change not only offers consumers diversity and convenience. Transparency of rates and available inventory increased in importance as it became easier to research markets and companies, which has led to a dramac increase in the compeon. Many consumers use mulple channels for purchasing, and research shows these customers spend 1.5 mes more than other consumers. Mulchannel consumers are very loyal, and the cost to maintain the relaonship with these individuals is comparavely low due to their preference for fast and convenient communicaon plaorms. Promong customer loyalty by outperforming competors We believe in exceeding customer expectaons with our superior - and proven - customer care soluons In 2016, global retail sales are expected to grow by 3.2% and eventually grow to 3.4% by 2018. Despite more than $1 trillion dollars in online purchases worldwide in 2013, eCommerce accounted for just 5.1% of total retail spending, per eMarketer. That share grew to an esmated 5.9% in 2014, on the back of a 22.2% increase in eCommerce spending, and will connue to grow through 2018, when it will reach 8.8%. Online shoppers in the U.S. are expected to spend $327 billion in 2016. The Market is esmated to reach $20,002 billion in 2017. 52% of retail consumers have stopped doing business with a company due to poor service. Industry Soluon Retail and eCommerce Did You Know: *source - Mulple Industry Reports and Online Resources
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The retail sector has been through multiple transformations. As business spaces went from small shops to department stores to mega shopping centers, consumer expectations also evolved. The truly revolutionary change for this sector, however, was adding technology to daily business practices and shopping routines. We moved from store-centrism to an era where consumers can buy customized products on their digital devices anytime and anywhere in the world.
This change not only offers consumers diversity and convenience. Transparency of rates and available inventory increased in importance as it became easier to research markets and companies, which has led to a dramatic increase in the competition. Many consumers use multiple channels for purchasing, and research shows these customers spend 1.5 times more than other consumers. Multichannel consumers are very loyal, and the cost to maintain the relationship with these individuals is comparatively low due to their preference for fast and convenient communication platforms.
Promoting customer loyalty by outperforming competitors
We believe in exceeding customer expectations with our superior - and proven - customer care solutions
In 2016, global retail sales are expected to grow by 3.2% and eventually grow to 3.4% by 2018.
Despite more than $1 trillion dollars in online purchases worldwide in 2013, eCommerce accounted for just 5.1% of total retail spending, per eMarketer. That share grew to an estimated 5.9% in 2014, on the back of a 22.2% increase in eCommerce spending, and will continue to grow through 2018, when it will reach 8.8%.
Online shoppers in the U.S. are expected to spend $327 billion in 2016.
The Market is estimated to reach $20,002 billion in 2017.
52% of retail consumers have stopped doing business with a company due to poor service.
IndustrySolution Retail and eCommerce
Did You Know:
*source - Multiple Industry Reports and Online Resources
Did You Know:
Insurance
The majority (83%) of online shoppers need support to complete a purchase and 89% will stop shopping online after experiencing poor customer service.
Good customer service obviously helps e-retailers retain existing customers, and in the end, saves them money. Meanwhile, a 10% increase in customer retention levels results in a 30% increase in perceived company value.
56% believe good customer service is dependent upon having the issue resolved during one interaction with a customer service representative, and that customer service representative better be friendly 45%.
The most popular channel for customer service is via telephone (61%). Customers also prefer e-mail (60%) and live chat (57%).
55% of consumers said they would pay more if it meant they got better customer service in return.
55% are willing to recommend a company due to outstanding service.
85% would pay up to 25% more to ensure a superior customer service experience.
The next few years should see rapid evolution in the retail industry. Travel, mobile, innovative and faster retailing are popular trends now and predicted to lead the market in the near future. The demand for innovative non-voice channels has increased for customer service support, while businesses provide customers with more payment options. Omni-channel will be integrated into every aspect of retail and companies will have to offer superior service on each platform.
Technology in the retail sector is not only disrupting back-office and enterprise systems, but many customer-facing functions such as payment, loyalty programs and customer service are also impacted. There is plenty of competition available to consumers. Online and brick-and-mortar stores will use attractive displays and eye-catching marketing to grab the attention of consumers. Retail companies need to keep their audiences happy, or they’ll lose customers.
Customer service plays a very important role in this industry. Over 83 percent of online shoppers need customer support to complete a purchase, and 89 percent of customers would switch to another provider after facing poor customer service. Outsourcing would not only help with cost cutting, but it will also free up the energy to focus on the core of the business, and provide much-needed consistency. 85 percent of people would pay 25 percent more to ensure a superior customer service experience.
Knoah is recognized as a leading global provider of BPO and Contact Center Outsourcing Services by such bodies as International Association of Outsourcing Professionals (IAOP). We provide comparable services with the same outstanding results as huge corporations, but because of our size, we can offer more flexible, responsive interactions with our clients. This creates a much more effective partnership. As a leading provider of Business Process Outsourcing, we deliver customer facing services which include voice, email, chat and social media support as well as non-customer facing services such as data/order entry and 3rd Party Quality Assurance services.
IndustrySolution Retail and eCommerce
Offer Multi-channel support solutions
Achieve better KPIs at lower cost
Reduce leakages with our proven operational processes
Engage customers with industry specific expertise
Reduce customer support costs with right engage solutions
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*source - Multiple Industry Reports and Online Resources
Technical Support
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Billing, Retention & Collection
Online Engagement
Sales, Cross-Selling & Up-Selling
Customer Loyalty Management
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InsuranceIndustrySolution Retail and eCommerce
2016
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About Knoah:Whether you’re a Fortune 500 company or an SMB, Knoah Solutions’ global BPO services create memorable experiences that matter to your brand. Our customizable and flexible, multichannel solutions help you meet the needs and challenges of each of your customers through voice, chat, email and social media to our award-winning TotalAssure QA third-party call monitoring solution; all powered by our proprietary WFO tool, KnoahsARK. Knoah has the adaptability that big companies can’t provide and a level of competency and scale that smaller companies can’t deliver on. Knoah’s innovative and consultative approach has repeatedly earned us awards and recognition from independent review bodies like IAOP.
We create memorable experiences that matter to
your brand through customizable and flexible
solutions to meet the needs and challenges of each of
your customers.
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Management
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