Academic Master

Business and Finance

Innovations in Retail Industry

Now in the retail industry, shopping with the click of a button on a laptop, tablet, as well as smartphone, has lost attractiveness. Now retail industry is on the tip of going for innovations. The innovations are also related to the way of going of customers into markets. If a customer has a good experience, he will surely become a loyal customer.Along with this, he will let this known to other potential customers. This is the best approach towards the lowering of overall marketing acquisition costs for any company. Now meeting customers’ needs has become more critical as now people have more digitally-driven lifestyles. This paper will share Wal-Mart new strategy as a retailer in context of its effort of satisfying customers beyond their expectations.

I recently had an experience with Wal-Mart in which it had exceeded my expectation as a retailer in the industry. I went to one of its newly opened store in Florida, where Wal-Mart new strategies fascinated me a lot. There was a new layout of building and environmental was also improved concerning the addition of technology to improve the customers shopping experience. The company has now in its new stores introduced the new concept of using Wal-Mart app. Customers install this Wal-Mart app on their smartphones, and this assists with the shopping and changes in the form of store assistant when customers enter the store(Kang, Mun, & Johnson, 2015). Using the app, I accessed the store map that allowed me to have easy shopping with the availability of Walmart Pay. This also assisted me in finding products easily with the option of having search bars as well as scanners. There was an option of reading the reviews easily and quickly and finding the products within stores, in addition to double-checking prices. This recent customer service went beyond my expectations and Wal-Mart as a retailer served me in the best way.

References

Kang, J. Y. M., Mun, J. M., & Johnson, K. K. (2015). In-store mobile usage: Downloading and usage intention toward mobile location-based retail apps. Computers in Human Behavior46, 210-217.

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