Customer feedback is key to success to retailers.  According to PwC’s recent Consumer Intelligence Survey, three quarters of consumers cite customer experience as an important factor in their purchasing decisions, behind product quality and price.
Delivering a good experience requires retailers to listen to their customers, and act on what they’re saying. Indeed, Morrisons’ chief executive recently suggested that customer feedback was an important factor in the supermarket chain’s three consecutive years of multichannel growth, saying that “listening to customers, responding, and improving the shopping trip are as important now as when we started this turnaround three years ago.”
By monitoring and measuring customer feedback, brands will be better able to respond to customer demands in a timely manner, improve their products and services, protect their reputation, and predict any trends that might impact their business in the future. The challenge lies in measuring customer feedback and interactions across multiple channels in real time.
Opportunities and challenges
For generations, retailers have been listening to the demands and bugbears of their customers. Today’s multichannel environment, however, requires a deep-reaching, digitally focused solution. Voice of Customer (VoC) analytics provide valuable intelligence on how consumers perceive a particular brand. By capturing everything a customer says about a retailer and its products – their expectations, their preferences, their dislikes – VoC data can help that retailer shape its offering, and present it at a price that customer is most prepared to pay. What’s more, by combining VoC data with product data, of which most retailers have many years’ worth, it becomes easier to predict trends in demand and sales.
However, while a recent survey revealed that the majority of retailers consider VoC to be important, fewer than three in five actually plan to invest in it. Given the variety of data that must be acquired and

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