Please enter your username or the email address associated with the account so we can help you reset your password.
In the future of retail, where technology will be an enabler of convenience and experience, the possibilities are endless for creative marketers to stand above and apart from competing brands. When retailers can enhance and add value to the customer experience, they should be leveraging technology to create a holistic view of their customer and blend the line between virtual and reality to better serve their customers.
1. Hyper-Personalization Facilitated Through Machine Learning
According to a recent Saleforce.com study, 58% of consumers identified personalization as an important factor in driving purchase intention, with 57% of consumers willing to exchange personal data in return for tailored offers and discounts. How can marketers action on the data collected and attributed across thousands of touchpoints? Machine learning built from customer data means brands can identify how to design campaigns around target segments, hone their offer engines to suggest products members are most likely to use and keep, and deliver personalized experiences to customers. Stitch Fix is a great example of hyper-personalization. The on-demand styling service uses machine learning to tailor its offerings, suggesting items based on the customer’s preferences and their selection process. This approach has resulted in over 83% and 86% of clients returning within 90 days for a second order in 2016 and 2017, respectively.
2. Blur the Offline and Online Experience Through Augmented Reality
Delivering a seamless data-driven experience is a major concern we hear from many marketers. Augmented reality enables bricks-and-mortar retailers to take the customer interaction with their products to the next level by creating unique experiences that blend digital and physical shopping. Retailers can superimpose a virtual layer of digital information over the physical object (such as offers or other calls to action) to make decision making or purchasing easier, thereby, delivering a better experience. Retailers can leverage AR to: