By Zeba Fatimaretail.jpg

A survey released by BDO Global has revealed eight key customer service trends that are expected set the standard for the next decade in retail.

The survey, Service 2020 Megatrends for the decade ahead, is based on the forecasts of 479 business-leaders across the world, including about 50 from Australia. The businesses range from large to small, with a spread across regions and sectors.

BDO Australia National Chairman Tony Schiffmann says many respondents were downbeat about the current retail environment.

"The report explores how successful organisations have built - and sustained - excellent client service, and outlines eight predictions on how customer service will change in the coming decade," Schiffmann said.

"The quality of the customer experience is the added dimension which will impact businesses, regardless of their size or whether they are operating from a shopfront, office or online," he said. said.

"International and domestic business is more connected and competitive than ever before, good service is set to become a key competitive differentiator with new technologies playing a huge role in doing so."

The eight Megatrends are:

• Global competition will drive up service standards.
• Companies must maintain service standards in the face of “the need for speed”.
• Firms must learn to use the increased transparency brought by social media to their advantage.
• Companies must use new sources and types of data to rethink the way they track and personalise their service.
• Good employees will remain fundamental to good service but with technology as an enabler.
• More firms will outsource aspects of customer service to new kinds of specialists.
• The rise of the mass affluent and other customer segments will force companies to find new product or service niches.
• Customer expectations, including the purpose of the store, are evolving with new technology.

Schiffman noted business leaders are concerned about the pace of technological change and how to cope with social media, but recognise its importance.

“The clear trend to come out of this is that organisations understand it’s here to stay and they need to harness it," he said.

Schiffman said although it’s a given that business will need to pour more money into information technology “we’re on the merry-go-round and we’ve got to continue to invest” he stressed that these IT investments don’t necessarily need to cost an arm and leg.

“I’m not sure in this day and age that means having to spend huge sums of money. A lot of technology now is relatively cheap, so you can probably implement changes in a fairly reasonable way," he said.