Rather than treating customers as short term financial gains that enter and
exit a store in a conveyor belt fashion, retailers are looking at ways of boosting
customer loyalty to stay ahead of the competition. Customer power has become
the latest disruptive innovation in the retail world, with a Gartner report in
2015 suggesting that 89% of marketing leaders expect customer experience to
be the primary basis for differentiation by 2017.
The Problem:
The Solution:
Shoppers are becoming more promiscuous
than ever, switching between retailers
like never before. Technology puts more
information in the hands of consumers and
also provides a way for frustrated customers
to voice their opinions - often in a more
negative light than they actually experience.
Personalisation. And so far, the big brands are
doing it best.
Perhaps most common online originally,
digital players like Amazon and Netflix have
used personalised campaigns to attract and
retain customers for a while. With that in
mind it should come as no surprise that retail
brands are jumping on the personalisation
bandwagon and following the lead.
The rise of a mass consumer society meant
that the size and sheer complexity of the
market made personalisation practically
impossible in the past, however now with
growth of data analytics and innovative
technologies, personalisation is much more
than an option - it is a necessity.