Friday 3 February 2012

Embracing New Trends Essential For Business Success

A survey released this week identifies 8 key customer service trends that will set the standard for the next decade in retail.
The survey comes from BDO Australia, an association of accounting professionals with worldwide affiliations and follows consultations with 479 business leaders. The key points are –
  • Global competition will drive up service standards.
  • Companies must maintain service standards in the face of ‘the need for speed’.
  • Firms must learn to use the increased transparency brought by social media to their advantage.
  • Companies must use new sources and types of data to rethink the way they track and personalise their service.
  • Good employees will remain fundamental to good service but with technology as an enabler.
  • More firms will outsource aspects of customer service to new kinds of specialists.
  • The rise of the mass affluent and other customer segments will force companies to find new product or service niches.
  • Customer expectations, including the purpose of the store, are evolving with new technology.
Of course, Queen Victoria Market traders don’t do business in a normal retail environment. Our unique location and structure creates its own challenges and some distinct advantages. Our ability to offer personal service to our customers is one of those advantages and combined with at least some aspects of new technology, should help us handle the changes ahead.