SAN FRANCISCO – Sept. 1, 2021 – Talkdesk®, Inc., the global customer experience leader for customer-obsessed companies, today released its new research report, “Powering Retail Growth: The Next Generation of Contact Centers,” revealing a critical gap between the high availability of solutions capable of exceeding customer expectations and their low adoption levels within the retail industry. While retail is rallying around the importance of elevating customer experience (CX), many retailers have yet to seize the potential of using their contact centers to scale personalized service. In fact, only 30% of retail contact centers are using artificial intelligence (AI) tools at scale to deliver the personalized experiences customers expect.
CX as a Key Business Driver and the Slow Implementation of AI
Talkdesk Research™ finds a majority of retailers are prioritizing improvements to CX and initiatives aimed at building customer loyalty. Fifty-four percent of CX professionals cite it as a top priority, and 87% clearly understand how their CX strategy fits into their organizations’ broader business goals. Retailers that have seen a significant increase in their customer satisfaction over the past two years also experienced a sizable increase in revenue during the same time period and expect revenue gains in the next year as well.
Yet despite a clear connection between CX and business performance, retailers struggle with the unpredictable variety and volume of customer needs (50%) and high CX operational costs (44%). Data will be key to overcoming these challenges. Indeed, almost half of retailers surveyed say that better management of customer data across all relevant channels is a top component of their CX strategy.
AI represents a key area of opportunity for retailers to use customer data to fulfill personalization expectations at scale, but only a third of survey respondents are using AI capabilities such as intelligent knowledge bases, virtual agents, and chatbots. Looking ahead, more than half say they plan to increase investments in these areas.
“CX professionals in retail understand that today’s customers expect highly personalized interactions whenever, and however, they may engage with a brand. They also understand that the AI tools required to meet and exceed those evolving preferences are available, yet most haven’t implemented them at the necessary scale,” said David Gardner, vice president of research & insights, Talkdesk. “This disconnect shows how critical AI can be as an investment for contact centers. Looking forward, our research indicates that CX leaders must find ways to address customer needs, while mapping out the future of the contact center in a way that leverages AI at scale and still keeps costs in check.”
The Evolving Role of Agents
Agents are increasingly instrumental to retailers’ business outcomes beyond customer satisfaction and net promoter scores. Talkdesk Research additionally shows that over 80% of retailers currently hold agents accountable to key performance indicators (KPIs), which includes new revenue generated. Nearly 90% of CX professionals further anticipate that customer relationship growth will be part of agent KPIs within the next five years.
When asked about the top challenges they face today, 42% of CX professionals equally cited: 1) consistently engaging across channels, 2) lack of capacity, and 3) effectively tailoring interactions. To overcome these obstacles and enable agents to rise to their potential as customer relationship stewards, retailers need to explore contact center technologies, including digital channels, speech analytics, and AI-enabled next-best-action tools.
“The key to unlocking the potential of agents in the new ‘agent+AI’ paradigm will ultimately be the level of support from executive leadership,” said Shannon Colquhoun, vice president of industry strategy, retail and e-commerce, Talkdesk. “The entire organization should align around the role contact centers play in business growth, with investments in technologies like AI taking into account the input from agents who are in direct connection with customers and understand their needs. This healthy paradigm can elevate contact center technologies as drivers of better outcomes from the agents, customers, and the entire business.”
For more insights on the future of AI in retail contact centers, download the report, Powering Retail Growth: AI and the Next Generation of Contact Centers.
Methodology
In June 2021, Talkdesk Research conducted an online survey of qualified retail CX professionals across different global markets, including: the U.S., Canada, Australia, Singapore, New Zealand, France, Germany, Spain, Italy, the U.K., and Brazil. A total of 200 survey respondents were involved in the research, consisting of CX professionals representing retail and ecommerce companies with more than 200 full-time employees. CX professionals included leadership and management for customer experience, customer service, CX operations, contact center, and IT, as well as contact center agents.
Additional Resources
- Learn how the second wave of retail’s digital transformation is being fueled by fundamental change in consumer habits
- See how retail contact centers can use AI to transform returns into cross-sell and up-sell opportunities
- Download the Gartner 2021 Magic Quadrant for Contact Center as a Service to learn why Talkdesk was named a leader in CCaaS
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About Talkdesk
Talkdesk® is a global customer experience leader for customer-obsessed companies. Our contact center solution provides a better way for businesses and customers to engage with one another. Our speed of innovation and global footprint reflect our commitment to ensure businesses everywhere can deliver better customer experiences through any channel, resulting in higher customer satisfaction, cost savings and profitability. Talkdesk CX Cloud™ is an end-to-end customer experience solution that combines enterprise scale with consumer simplicity. Over 1,800 innovative companies around the world, including IBM, Acxiom, Trivago, and Fujitsu partner with Talkdesk to deliver a better way to great customer experience. Learn more and request a demo at www.talkdesk.com
Talkdesk is a registered trademark of Talkdesk, Inc. All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.
Media Contact:
Camille Beasley
(972) 896-1936
Author Information
Clint brings over 20 years of market research and consulting experience, focused on emerging technology markets. He was co-founder and CEO of Dash Network, an integrated research and digital media firm focused on the CX market, which was acquired by The Futurum Group in 2022. He previously founded Tractica with a focus on human interaction with technology, including coverage of AI, user interface technologies, advanced computing, and other emerging sectors. Acquired by Informa Group, Clint served as Chief Research Officer for Informa’s research division, Omdia, with management and content strategy responsibility, formed by the combination of Tractica, Ovum, IHS Markit Technology, and Heavy Reading.
Clint was previously the founder and President of Pike Research, a leading market intelligence firm focused on the global clean technology industry, which was acquired by Navigant Consulting where he was Managing Director of the Navigant Research business.
Prior to Pike Research, Clint was Chief Research Officer at ABI Research, a New York-based industry analyst firm concentrating on the impact of emerging technologies on global consumer and business markets.
Clint holds a Master of Business Administration in Telecommunications Management from the University of Dallas and a Bachelor of Arts in History from Washington & Lee University.
