Verint has unveiled its innovative open platform capabilities for retailers at NRF 2024, coinciding with the release of its latest retail research findings. Contrary to reports suggesting the demise of in-store shopping, the Verint Experience Index (VXI) Retail Study, reveals that the physical store remains the preferred starting and ending point for around two-thirds of consumers in their shopping journey, compared to digital channels.
“Providing a consistent and connected experience across engagement channels is now non-negotiable for retailers. They need to understand the key touchpoints across their customers’ journeys, make it easy and convenient for customers to interact with them in their channel of choice, and have solutions in place that provide a constant feedback loop to ensure the customer experience is evolving and improving to meet customer needs,” says Jackie Hudson, Global Vice President and General Manager, Retail Workforce Solutions, Verint.
While 66% of customers still visit physical stores to complete purchases, the study emphasizes the increasing importance of connected customer journeys across all channels. Approximately 20% of recent interactions involved customers planning a store visit to research a product, and 7% visited stores to pick up online purchases. In response to this evolving landscape, Verint highlights the necessity for retailers to seamlessly engage and connect with customers across digital touchpoints and in-store experiences.
Another study by IBM highlights the need to improve both in-person and online shopping experiences, as businesses are failing to meet customer expectations.
Open Platform for Retailers
To address these trends, Verint introduces its Open Platform for Retailers, offering solutions to enhance the orchestration between digital and physical channels. Key applications include Appointment Booking, Queue Management, Event Management, and Task Management, designed to capture crucial insights such as the reasons behind store visits, sought-after products, and preferred days and times for customers.
The platform also emphasizes the implementation of Voice of the Customer (VoC) capabilities across channels, allowing brands to gather location-specific feedback in real time. This includes feedback on in-store experiences as well as digital interactions, providing valuable insights into customer experiences across various channels.
Moreover, the platform introduces the Verint Interviewing Bot to improve candidate quality for in-store and digital experiences. By automating the analysis of candidate assessments through AI, proprietary audio models, and predictive analytics, the bot identifies high-performing individuals, reducing attrition, and hiring costs, and enhancing overall performance outcomes.
Verint's Open Platform for Retailers seeks to modernize retail operations, offering solutions that bridge the gap between physical locations and digital channels. The goal is to not only increase customer foot traffic but also to elevate sales through enhanced customer experiences.
In other news, Verint has secured a contract exceeding $49 million from a prominent U.S. healthcare company to enhance customer experience automation within their customer operations.