INTERVIEW OF THE MONTH
INTERVIEW WITH MR. ANKUR AGARWAL
Founder & CEO
What are some of the technology trends shaping customer experience?
At Inhabitr furniture rental we understand that consumer behavior is rapidly changing and now more than ever it is being shaped by digital technology. Customers are expecting a holistic experience from brands they interact with starting with the first touchpoint all the way to fulfillment. A consumers’ experience must be seamless and digitally native. Mobile is now a key channel for most of these interactions and it’s becoming a very powerful customer engagement tool.
Another key trend is the use of data and predictive analytics, which can enhance the customer experience by delivering tailored product recommendations and personalized customer service. Now more than ever, predictive analytics will give businesses an edge. By 2020, 85% of most customer interactions will be serviced by machines. As a forward-thinking business, we are leveraging our partners expertise in this area to improve our customer experience.
How are these trends impacting business in the retail industry?
Many subsegments of the retail industry have been disrupted but furniture has yet to fully realize this digital shift. We have built a platform that brings furniture rental to millennials through their preferred channel and in line with the digital expectations that have been set for so many other industries – you can have food delivered at the touch of a button why not rental furniture?
The digital advancements’ focus on ease, convenience and speed are only going to keep raising the bar for customer experience. As an online retailer we understand that striking the balance between automation and personalization is a critical factor for our current and future success and we will continue to invest heavily in our customer-centric business model.
What are some innovations that Inhabitr is doing to ensure better customer experience?
As an emerging Chicago start-up, we understand the importance of providing a superior customer experience and proactively keeping the customer engaged. We are deploying AI and customer experience management technology from Koopid Inc. to significantly enhance customer engagement. We are driving deep knowledge of customer behavior and design personalization using data analytics. We use all of the knowledge we have gained through this interaction to design hyper-personalized products for our clients.
The future of retailing is being designed by the sharing economy and by customers who have a million choices. There is no such thing as status quo anymore and continuous innovation is key to survival and growth.