How A Few Retail Companies Are Earning Billions
The retail industry has been hit hard for the past few years. The demands of shoppers are changing and corporate leaders have struggled to meet these new demands. Customers today want more from retailers. They do not simply want to walk into a store and see what is stocked on shelves. Shoppers have a variety of places to shop both online and in store and here https://kiosk.com/market-solutions/government-kiosks. Instead, today’s shoppers want a shopping experience. This experience can be costly and confusing for corporate leaders to figure out. Despite the challenges corporate leaders are encountering, what remains true is that a few retail companies have been able to keep up with the demands of customers.
Foot Locker is one of the companies that has been able to still rake in profits in this changing retail atmosphere. Forbes has given Foot Locker the number four spot on its list of retailers that have the most engaging and loyal customer base. Foot Locker like a few other companies has been able to make a brand out of itself that really does attach to customers. They give customers a consistent shopping experience once the customer enters the store. The leaders of Foot Locker have been able to stretch beyond luring customers in with athletic performance marketing tactics. Customers are shopping from Foot Locker because the company has created products that speak to their own active lifestyles.
Nike is another company that has learned to create loyal customers by meeting their demands. Nike has done a fine job of creating an experience that hooks new customers and continues to drive them back. Nike has launched an app that allows customers gain rewards for their transactions. These rewards lure customers back into the store. The app also allows customers to customize their options when seeking out footwear. This app allows customers to gain access to information and rewards while shopping. Nike has also done a good job with relating to customers with big movements in society by showing their support for Colin Kaepernick.
The North Face has been able to keep up with customers by establishing trust with shoppers. They have streamlined a process that allows customers to trust North Face while shopping, while purchasing and again when they return to the store. Customers are really attracted to this brand because the brand has created a reputation for creating produce made of great quality that is environmentally conscious. Both their in store and online platforms provide awesome experiences for shoppers.
Starbucks has been able to dominate the coffee industry for years. While many other coffee shops close their doors, Starbucks opens new locations daily. Their following of customers are trusting and loyal to this iconic coffee brand. Having a great product, a phenomenal buying experience and reviews from peers has caused this Seattle based coffee company to transform the entire industry. This list is just a examples of retail companies that able to earn billions in a time where retail companies struggle to get engagement from customers.