Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

SALESFORCE.COM, INC.

(CRM)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Salesforce com : Telco Retail Trends Show Self-Service Demand Skyrocketing – Here Are 3 Ways To Keep Up

10/21/2021 | 08:34pm EST

How are consumers shopping for smartphones? Current telco retail trends indicate most of them are doing it from home. [AS Photo Project / Adobestock]

Oct 21, 20213 min read

Gone are the days of consumers who prefer to visit retail locations to research, upgrade, or purchase their smartphones. Research indicates that just 25% of consumers go to a CSP's physical storefront for product research. And a mere 31% of shoppers make an in-person purchase. Telco retail trends data shows that digital channels are skyrocketing as subscribers bring their entire customer journey online.

It's clear customers seek alternative ways to interact with wireless carriers, including web, phone, app, and social media. But how well do carriers deliver? Below are three ideas for CSPs to reimagine the retail experience - and to ensure they can continue to meet customers' changing expectations.

CSPs are navigating new subscriber buying habits in retail

Learn how you can build powerful retail experiences to meet shopper demand.

Read now

Telco retail trends evolve quickly

For decades, the brick-and-mortar telecom store played a major role in telco retail operations. More than mere sales outlets, these stores functioned as customer support hubs, offering shoppers technical help and advice on products and billing plans.

Now there's much less foot traffic to stores. And there's less opportunity for customer connection. During the pandemic, many wireless carriers, including T-Mobile, moved swiftly to help employees, customers, and communities. But that also meant closing many stores temporarily or permanently.

These closures affected how people purchased. According to a 2021 international study, only 39% of consumers prefer to make a purchase in-store. Customers use more self-service options while reducing physical interactions, including buy-online-pick-up-in-store (BOPIS), contactless delivery, and curbside pickup.

As a result, many telco providers now designate more stores purely for pickup purposes and inventory overflow ("dark stores"), and stock these shops with the most popular products in a specific geography.

As carrier stores continue to reopen across the country, retail outlets must consider customers' desires to minimize their time in-store. Shoppers want to see products in person before committing to a purchase. But CSPs need to be mindful that many consumers want to start the shopping journey online, then make the final purchase in-store - or vice versa.

How to deliver a seamless telco retail experience

Winning in this telco retail environment means CSPs must evolve the customer experience so shoppers can move seamlessly between digital and physical channels. Here are three suggestions:

1. Turn the dial up on digital

With fewer in-store interactions, CSPs need to ensure they can deliver superior customer service across the digital channels customers prefer. Consumers use an average of nine channels to browse inventory, seek advice, and make purchases (just 47% prefer to make a purchase on CSP websites). They expect consistency across all the channels they use. That requires CSPs to improve shopping by streamlining the journey.

  • Provide features that keep products in the shopping cart if they leave the site before purchasing.
  • Use existing customer data to provide personalized offers based on purchase and browsing histories and preferences.
  • Address common concerns with a regularly updated FAQ page.
  • Embed a web chatbot for further on-demand support.
2. Offer in-store appointment booking

When customers visit an actual store, it's for a specific purpose - say, to replace a cracked phone screen - and they want to get in and out without delay. Make it easy for them with an efficient online appointment booking system to minimize their time in-store or waiting in line.

3. Educate and empower retail store associates

Equip store associates with the right tools to follow a customer from discovery to purchase. Cutting-edge order management and inventory systems give associates a real-time look at store inventory and makes it easy to move products between stores. Associates can also get instant visibility into customer preferences, devices, usage, and interaction history to personalize recommendations. Help your team to suggest add-on purchases like phone accessories that a customer in a physical store would see at checkout.

Telcos, like all retailers, are experiencing rapid shifts in consumer buying habits and preferences - and these changes are here to stay. To stay relevant and competitive, CSPs need to focus on customers and become digital-first.

Read our guide to how CSPs can reimagine the retail experience

Get actionable tips on how to create shopping experiences subscribers want and expect.

Get our free guide

Disclaimer

salesforce.com Inc. published this content on 21 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 October 2021 00:33:09 UTC.


© Publicnow 2021
All news about SALESFORCE.COM, INC.
04:19pSALESFORCE.COM, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND R..
AQ
02:11pSALESFORCE COM : A Career Change to Tech Is Easier Than You Think – Follow These Tip..
PU
12:51pSALESFORCE COM : What City National Bank Learned About Leading Through Change
PU
12:31pSALESFORCE COM : New Salesforce Research Links Lower Stress Levels and Business Automation
PU
09:18aToday on Wall Street: Volatility remains high
06:01aSALESFORCE COM : What is a Salesforce Architect?
PU
05:22aANALYST RECOMMENDATIONS : American Tower, EasyJet, IBM, Salesforce, Twitter...
12/01SALESFORCE COM : Appointment Setting for Financial Advisors Made Easy
PU
12/01SALESFORCE COM : How Financial Advisors Can Use AI To Find New Clients Faster
PU
12/01Ambarella, Box rise; Salesforce.com, Generac fall
AQ
More news
Analyst Recommendations on SALESFORCE.COM, INC.
More recommendations
Financials (USD)
Sales 2022 26 409 M - -
Net income 2022 1 181 M - -
Net Debt 2022 789 M - -
P/E ratio 2022 216x
Yield 2022 -
Capitalization 256 B 256 B -
EV / Sales 2022 9,71x
EV / Sales 2023 7,88x
Nbr of Employees 69 530
Free-Float 96,6%
Chart SALESFORCE.COM, INC.
Duration : Period :
Salesforce.com, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SALESFORCE.COM, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 51
Last Close Price 261,20 $
Average target price 331,40 $
Spread / Average Target 26,9%
EPS Revisions
Managers and Directors
Marc Russell Benioff Chairman & Chief Executive Officer
Alexandre Dayon Co-President & Chief Strategy Officer
Amy E. Weaver Co-President & Chief Financial Officer
Srinivas Tallapragada Co-President & Chief Engineering Officer
Bret Steven Taylor Co-President & Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
SALESFORCE.COM, INC.17.38%246 219
CLOUDFLARE, INC.116.09%52 834
DYNATRACE, INC.34.48%16 588
SINCH AB-9.37%10 333
NUTANIX, INC.0.53%6 950
INOVALON HOLDINGS, INC.125.98%6 374