Return on Relationship (ROR) – The New Critical Retail Metric
Relationships are the new currency and will continue to drive changes in overall consumer behavior and especially shopping patterns. The way people shop and purchase is changing, driven by dynamic shifts in technology as well as culture and lifestyle. Consumers want more from where they shop. They value community and favor unique experiences over material goods (“stuff”). This is true for consumers of all types, consider this, 1 in 3 people in the world are on Facebook. The retail industry is embracing consumers’ desire for thoughtful commerce. Researched and considered purchases, sustain-ability, community, sharing, personalized, mission-driven, social selling, giving back, influencers, resale and re-use are all becoming critical elements of retail and consumer experiences today. Relationships are the new currency and will continue to drive changes in overall consumer behavior and especially shopping patterns. Return on Relationship will be the new performance metric. Table Stakes - Have a Reason for Being and [...]