New Customer Feedback System Offers Advantage for Retailers

Ann Arbor-based CFI Group will debut its RetailMonitor product at the National Retail Federation trade show in New York Sunday through Wednesday.

RetailMonitor by CFI Group will help retailers make the most of their customers’ feedback and tap into the positive relationship between customer satisfaction and company profitability, providing a potential way for retailers to gain ground in a flagging economy.

RetailMonitor by CFI Group will help retailers "cash in" on customer satisfaction by determining their biggest profit-impacting satisfaction opportunities. Specifically, RetailMonitor tracks current customer satisfaction levels, identifies key touch points where improvements matter most to consumers, and delivers a customized action plan to increase the effectiveness of those touch points. Users of RetailMonitor will also be able to directly access results at the store, district, and region level, as well as for other segments of interest to them.

“Retail is a highly competitive industry regardless of the economy,” said Sheri Teodoru, CEO of CFI Group. “But a down market is a good litmus test for customer satisfaction. RetailMonitor by CFI Group is designed to provide a customized competitive advantage to help differentiate those retailers that see customer satisfaction as a priority.”

The predictive model behind RetailMonitor by CFI Group is based on the proprietary methodology CFI Group shares with the American Customer Satisfaction Index, widely acknowledged as the gold-standard of customer satisfaction measurement. Not only can retailers benchmark their performance against other retailers, the cause-and-effect methodology of the ACSI predicts how customers will react to changes made to key customer experiences such as the merchandise mix, floor plan, or levels of customer service.

“The introduction of RetailMonitor will enable CFI Group to bring its ACSI expertise to retailers of all types and sizes,” said Xavier Quenaudon, VP of New Product Development at CFI Group.

More at www.cfigroup.com.