2018 Retail Status Report Ranks Main Chains for In-Retailer Expertise

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Evaluation of 4.7 Million Client Evaluations Reveals Chains with Greater Status Scores Have 3.9 P.c Greater Annual Retailer Gross sales Development

REDWOOD CITY, Calif. — NOVEMBER 21, 2018Status.com, the primary and solely full cloud-based enterprise status administration platform, at this time unveiled its 2018 Retail Status Report, which particulars shopper sentiment about in-store experiences with completely different retail manufacturers. The findings cowl 9 key buyer expertise classes, from worth to service to attend occasions and extra.

The info exhibits a direct correlation between Status Rating and retailer gross sales. The Status Rating is a complete index of an organization’s digital presence and on-site buyer expertise. Chains with excessive Status Scores noticed similar retailer gross sales enhance 2.8 p.c. Chains with low Status Scores suffered a 1.1 p.c decline in similar retailer gross sales, making for a complete distinction of three.9 p.c.

Status.com utilized synthetic intelligence, machine studying and sentiment evaluation to textual content from 4.7 million on-line shopper opinions which were posted on Google and Fb. The opinions detailed in-store purchasing experiences at almost 30,000 places owned by 88 retail chains. This yr’s report included opinions on big-box discounters, high-end boutiques, sports activities retailers, cosmetics shops, {hardware} retailers and a variety of others.

Primarily based on these opinions, social media sentiment, enterprise listings accuracy and different elements that mirror shoppers’ spontaneous opinions about their search and in-store expertise, every chain was given a Status Rating. The industry-average Status Rating for retailers in 2018 was 538 on a scale of 1,000.

[tweetshare tweet=”This year, the stores with the highest Reputation Scores in overall customer experience were The LEGO Store, Trader Joe’s, Nordstrom, Wegmans and Barnes & Noble. ” username=”Reputation_Com”]
The revealing shopper sentiment knowledge underlying these scores reveals granular working insights that shops can use to enhance buyer expertise and drive higher retailer gross sales efficiency.

Star Scores: Early Indicators of Status Rating
With almost 80 p.c of native customers beginning their seek for a enterprise on Google and Google Maps, star scores emerge as an essential issue driving shopper decisions. The place retailers fall on the star-rating scale are early indicators of buyer expertise and gross sales as the vacation purchasing season approaches.

In line with the report’s findings, a number of shops constantly ranked excessive in quite a few classes this yr. Some manufacturers confirmed good points or losses in particular person classes as in contrast with final yr’s report. Zara, for instance, confirmed main good points in service, leaping from 1.9 stars in 2017 to three.1 stars this yr. Aeropostale and Michael Kors additionally every gained one star this yr in service.

Handle Working Points in Advance of Vacation Season

On-line opinions, when systematically monitored and analyzed, current a robust instrument for retailers to enhance their operations. Creating the most effective purchasing expertise solely happens when a retailer can discover out the place it’s missing, after which intentionally handle each level alongside the patron journey to enhance it.

Dr. Brad Null, chief scientist for Status.com, stated, “One of the best ways to completely perceive on-site buyer expertise is to use AI, pure language processing and machine studying to the huge cloud of unprompted, unstructured knowledge on the social net. That generates a large aggressive benefit.”

Retailers ought to overview frequently and handle their on-line shopper opinions to deal with rising points and issues forward of and through the vacation purchasing season.

The whole “2018 Retail Status Report,” may be downloaded right here.

About Status.com
Status.com delivers the one built-in SaaS platform that helps location-based enterprises enhance their status with shoppers on-line and onsite, throughout the whole buyer journey – from discovering a location on search, to conversion, to operational enhancements that ship a greater buyer expertise.

Status.com know-how has managed tens of tens of millions of shopper opinions, surveys and social media interactions throughout lots of of 1000’s of on-line factors of presence for world corporations spanning 77 {industry} verticals, together with healthcare, retail, automotive, eating places and others. Status.com is a World Financial Discussion board International Development Firm and is funded by the identical top-tier enterprise capital corporations that backed Google, Fb, Cisco and Microsoft. To study extra, go to www.status.com.

Media Contact:

Brigit Valencia
BOCA Communications
360.597.4516
status@bocacommunications.com

 



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