retail digitised era where everything is centred around the consumer .
" Taking the right steps to offer a personalised experience leads to what we call a store for one "
1 . According to Accenture , 75 % of consumers are more likely to buy from retailers who offer personalised experiences 2 . Personalisation drives revenue growth 5-15 %
3 . Personalisation can increase the efficiency of marketing spend by 10-30 %
4 . Personalisation drives loyalty , which increases customer retention … and when your consumers start having better experiences with your brand , they ’ re more likely to become brand ambassadors
5 . Consumers benefit from tools that save them time and money , and algorithms that help uncover products of interest to them
Consumers do not think – or care – about ( mostly ) retailer owned channels and touchpoints . They simply view the brand holistically and demand a consistent and seamless experience across all touchpoints whenever , wherever , and with whomever they want . Retailers must change their mindsets accordingly and make the organisational shift towards a more open , flexible ,
Consumer engagement is key As my colleague Lars Wiesner wrote , in a connected commerce environment , there is one tool that every retailer must have : a software solution that creates seamless , personal connections across the digital and physical channels of today and tomorrow .
An end to end solution set for the future of retail is essential . This should allow retailers to drive consumer engagement , enabling a 360-degree view of customer behaviour and enhancing their shopping experience at every touchpoint of the journey – such as targeted promotions and realtime campaigns across all channels . Alongside transactional , behavioural and socioeconomic data in order to provide truly holistic consumer profiles that drive loyalty and increase overall spending .
Importantly , the takeaway message in Wiesner ’ s writing is that there is no one-size-fits-all loyalty program that will work for every retailer . It ’ s all about delivering personalised experiences . The software and the approach must be flexible and customised – baby boomers have very different needs and priorities from millennials , for example . Retailers must be able to pinpoint and directly address their specific target groups and offer them meaningful incentives . And , as noted in the McKinsey report , those communications should occur when the consumer wants them to occur .
Taking the right steps to offer a personalised experience leads to what we like to call ‘ a store for one ’, in which
14 KIOSK solutions