Far Eastern Department Stores prioritize customers and achieve a full shopping journey through all channels

        The market size of online shopping has been growing year by year, attracting many department store owners to extend from physical stores to digital services. Established in 1967, Far Eastern Department Stores has been innovating and transforming, not only providing online consumption, but also focusing on building a journey of full channel consumption. In this issue of "Cover Story", we will introduce how Far Eastern Department Stores can flexibly integrate virtual and real functions, as well as the advantages of ride hailing routes, to bring customers a pleasant shopping experience.

        Utilizing Digital Tools to Attract Old Rain and New Knowledge

                With the development of technology, the consumer trajectory of the public is no longer limited to a single channel of online (online shopping) or offline (physical retail), but is flexibly transitioning between the two. For example, first observing trends on the internet and searching for relevant product information, then experiencing and consuming in physical retail stores, especially in the post pandemic era, this consumption behavior and development trend are more obvious.

        In order to meet the online and offline consumption needs of customers, while keeping up with the trend, Far Eastern Department Stores extends the reach of physical department stores and operates online shopping, providing consumers with the service of purchasing goods and experiencing them 24 hours a day. They also use a "virtual to real" marketing strategy to guide online customers to offline stores, constructing a full channel consumption journey.

        In addition, Far Eastern Department Stores has also observed that the trend sensitivity of the consumer group is becoming higher, preferences are changing faster, and expectations for the shopping experience are becoming more diverse. Therefore, in addition to continuously implementing the "Retail mall" business strategy, leveraging the existing offline advantages of department stores such as a complete range of businesses, diverse products, delicate services, and distinctive spaces, smart and digital technology applications are also being introduced into shopping malls, Connecting different digital resources and physical pathways.

        In fact, after the operation of two fifth generation smart shopping malls, the Confidence A13 and Zhubei stores, in 2020 and 2023 respectively, Far Eastern Department Stores began to use digital systems such as App, CRM, and POS to collect customer consumption records, behavior trajectories, and other data for analysis, establish consumer shopping journeys, clearly understand their shopping needs, and then launch "4R personalized marketing", Deliver the most accurate product information and services (Right Service) to the most needed consumers (Right Person) at the most appropriate time (Right Time) through the most correct and fast way (Right Way).

        Customized services not only meet the needs of families of all sizes, but also successfully drive the operational performance of Far Eastern Department Stores. In 2022, the revenue exceeded NTD 57 billion, indicating that the integration of virtual and real has been deeply recognized by consumers. From May to June this year, a special "Member Summoning Order" activity was planned to connect the app and shopping mall through game interaction. After the Mother's Day holiday, it will continue to attract members to come back to the store for consumption, effectively improving the conversion rate from online to offline and reshaping the appearance of physical retail.

        Emphasize customer experience and create market differentiation

                In addition to actively developing digital marketing, focusing on "customer experience" is the foundation for shaping online and offline differentiation, On the one hand, the Far Eastern Department Stores are designing themed large-scale landscaping in their new locations (such as transforming the 9th floor of the Mega City Banqiao Far Eastern Department Stores, with a raised 3-story space of nearly 300 square meters, into the "Venice Square", and replicating the old street with the characteristics of Dadaocheng with an 11 meter raised glass corridor in Xinyi A13). On the other hand, according to festivals and seasons, various international cultural and product exhibitions are held Various customer gathering activities, such as cultural and creative small agricultural specialty product markets, topic product flash mobs, and children's professional experiences, comprehensively enhance customers' visual, taste, smell, touch, and auditory experiences through dynamic exhibitions, celebrity endorsements, and interaction with influencers, fully leverage the advantages of physical channels, and deepen the market segmentation between physical retail and online shopping.

        In addition, the VIP customer base is also a long-term target of Far Eastern Department Stores. The operation team uses brand launch events, new equipment exhibitions, and new product experiences, along with unique VIP rooms, to provide exclusive services face-to-face, share the latest trends and current products, and create high stickiness, satisfaction, and loyalty among the customer base, in order to consolidate the business foundation and strengthen competitiveness.

        Accelerate innovation and change towards the new retail era

                In a rapidly changing environment, department store retailers are not only platforms for selling fashionable products and exquisite services, but also must keep up with the times, and have functions such as food, entertainment, experience, and public welfare. After the opening of the fifth generation store style smart shopping mall, Far Eastern Department Stores has further established a "tailored" business strategy, gradually planning corresponding business types based on the size and competitive situation of branch stores in different regions, as well as the attributes of local business district customers. Market topic brands and popular products are introduced, and through the form of flash mob stores, they shape a top image that leads the trend and respond more quickly to consumer needs.

        On the other hand, given the trend of "local creation" in recent years, Far Eastern Department Stores has actively cooperated with government agencies and private organizations at home and abroad, inviting well-known experts, professionals, and performance groups to combine tourism, historical origins, and trend trends with interactive and fun performances, promoting the most suitable festival activities, specialty products, and souvenirs in various regions, allowing customers to easily experience the most authentic exotic customs, Experience the bustling, entertaining, and intellectual charm of the mall.

        At the same time, considering that department stores, as the center of daily life in the region, have appeal and indicators, Far Eastern Department Stores make good use of their advantages and work together with various units to organize public welfare activities such as international events, vulnerable assistance, maternal and child care, environmental protection, and local development. They will build each branch into a local social care platform and become a positive force driving society towards a better future.

        The department store retail industry is the first line industry facing consumers. Therefore, Far Eastern Department Stores always regards customers as an important asset. In the future, they will continue to strengthen the operation of official websites, digital media, and social media platforms, attract public attention in lively and interesting ways, and strengthen the connection between apps, social media, and physical stores. In the original online consumption mechanism, more diverse payments will be added The shopping methods and product types are expected to be combined with online and offline resources, as well as Big Data analysis, so that customers from all levels can receive the carefully prepared information and services from Far Eastern Department Stores in the most convenient way and stay up-to-date with the latest fashion trends. In addition, we will continue to respond to the ESG concept, promote environmentally friendly and recyclable packaging materials, create a sustainable shopping experience, and make every branch the most popular shopping mall among the local people.

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