How Customer Reviews Impact Retail Success

It isn’t new that a good customer review equates to positive success in your retail business. But what might be new information is that a positive point of sale (POS) experience can lead to good reviews – which leads to greater success. With years in the POS and technology industry, Retail Tech Inc. (RTI) knows the correlation between updated point of sale equipment and positive POS experiences. So, keep reading to learn how customer reviews impact retail success, what determines a good review, and whether an updated system leads to success.

How Does a Customer Review Influence Success?

The reviews that matter the most are often the extremes. They can make or break your average. But did you know that customer reviews directly correlate to your company’s success?

Let’s say you have a 4-star average on Google reviews. You consistently get 4- and 5-star reviews from your clients. Then, one or two people give you a 1-star review. Maybe they had mistaken you for another business with a similar name, or maybe they had a terrible experience at your store. Either way, your average drops to a 3-star rating. Now, when any potential clients search for your business, they are going to compare you to similar stores. If given the option, the potential customer is going to be naturally inclined to opt for the store with the higher rating.

What Determines a Good Review?

Knowing that customer reviews impact retail success, it’s important to know what goes into a good review for your industry. Oftentimes, the review revolves around the product or service you’re selling, but it can also be based on their experience in your store. Here are some of the main factors that go into a review:

• High-quality product and/or service
• Efficient speed of transaction time
• Less time spent waiting
• Easy service or product searchability
• Great customer service
• High levels of trust and credibility

Related Read: 4 Ways Businesses Can Build Customer Loyalty (and Why it Matters)

What Determines a Bad Review?

Conversely, it’s just as important to know what determines a bad review, so your retail business can attempt to avoid the situation. Here are some reasons your customers might leave a bad review:

• Slow or rude service
• Long wait times
• Lack of convenience
• Low-quality products
• Issues with technology 
• No trustworthiness
• Pricing disparities

How to Respond to a Negative Review

Despite your best efforts, there’s a chance you could still get a poor review. If someone leaves a negative review on your business, it’s important to respond quickly and courteously. Here is the best plan of action you can take:

1. Remain calm and professional
2. Respond in 24-48 hours
3. Thank them for the feedback
4. Take responsibility, empathize, and apologize
5. Offer a solution when appropriate
6. Continue the conversation offline
7. Ask them to give your business another chance
8. Monitor the situation and follow up later

Does an Updated POS System Lead to Success?

When it comes to how customer reviews impact retail success, having an updated POS system influences the outcome more than you think. By having faster, more reliable equipment, a lot of problems are removed. Having faster technology ensures that service is as efficient as possible and there is no lagging during a rush. With technology issues removed, the trust and credibility customers have in your business increases as well. On top of that, having a quality point of sale system ensures that stocking is accurate and up-to-date at all times. By swapping to a newer system, it can directly influence reviews positively rather than negatively.

Where to Buy Updated Point of Sale Systems

After seeing the effect that new, updated POS systems and other technology can positively have on your business, it’s in your favor to make the switch. Here at Retail Tech Inc., we offer an easy, full-circle solution. We help cover the entire lifecycle of your point of sale and technology equipment. RTI takes your old POS systems, replaces them with updated products, completes the entire installation, and covers any future maintenance. With a service like this, your business will always be in good hands. Contact our team at Retail Tech today to get started.