Customers expect a personalised experience when shopping. An effective personalisation strategy or value-added service can help retailers and brands keep pace.
Today’s retail environment is challenging from almost any perspective because of price pressure from discounters, market disruption from online players, and increased price transparency for shoppers. Traditional differentiation approaches in retail – such as a unique selection of strategic pricing and promotions – are not as practical as they once were, as competitors can easily imitate them. However, differentiation is still possible through personalised approaches in which retailers create unique experiences tailored to individual customers.
One effective strategy is integrating value-added services (VAS), providing additional perks beyond the standard product or service. In this case study, we delve into the significance of VAS and showcase a real-world example of how LayUp‘s technology successfully differentiates participating Pick ‘n Pay Clothing stores.
Understanding Value-Added Services
VAS are extra features or support customers receive when purchasing a product or service. Rather than focusing solely on the core commodity, businesses can elevate their offerings and stand out by providing additional benefits. This approach attracts audiences and addresses specific customer needs, ultimately enhancing the product’s overall value.
Case Study: LayUp’s Lay-By Solution for Pick ‘n Pay Clothing
Pick ‘n Pay Clothing recognised the importance of introducing lay-bys to their in-store environment to serve their customers better. Leveraging LayUp’s technology, they swiftly brought this solution to market and conducted a trial without complex integrations.
5 Key Features of LayUp’s Lay-By Solution
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Efficient In-Store Process
LayUp’s custom-built terminal streamlined the lay-by process, allowing Pick ‘n Pay sales staff to sign up customers instantly and facilitate quick cash or card deposit payments. Each transaction took less than 60 seconds to execute, enhancing the in-store experience.
2. Convenient Payment Options
Once activated, customers could make interest-free online payments towards their lay-by or choose to make cash payments across a network of participating retailers in South Africa. This flexibility improved customer convenience and accessibility.
3. Transparent and User-Friendly Dashboard
LayUp provided Pick ‘n Pay Clothing with a comprehensive CRM dashboard, offering real-time insights into store performance, weekly revenue, and growth. Customers received reminders about upcoming payments, and the dashboard allowed them to cancel a payment plan and receive a refund without returning to the store.
4. VAS Solution Partnership
LayUp’s lay-by solution was further enhanced through targeted partnerships, including collaboration with Newland Terminals, making it a noteworthy payment solution that meets the customers’ needs.
5. Rapid-to-Market Strategy
LayUp’s technology enabled Pick ‘n Pay Clothing to go to market within a few weeks, showcasing the effectiveness of a rapid-to-market strategy in meeting customer demands.
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The Pick ‘n Pay Clothing and LayUp collaboration exemplifies how VAS can enhance the retail experience. Businesses can stay competitive and foster customer loyalty by addressing specific customer pain points and providing innovative solutions. LayUp’s lay-by solution serves as a testament to the power of VAS in creating a seamless, efficient, and customer-centric retail experience.
