To Achieve Real-Time Personalization
unpredictable consumer demand; and
competitive pressures to fulfill faster.
Less than of retailers have
inventory visibility across channels.
of consumers said ease of
checkout would make their
in-store experience better.
By connecting the dots between online and in-person behavior, retailers can deliver the holy grail of hyper-personalized interactions and experiences.
Retailers’ top business challenges in driving improved analytics strategies:
of retailers understand online touch points and the interplay with in-store behavior.
1 “Advanced Analytics: Retailers Fixate On The Customer”, RSR Research, March 2015
4 “Real-Time Data Drives The Future Of Retail”, Forrester, January 2016
5 “The Pulse of the Online Shopper”, UPS, June 2016
7 “The Pulse of the Online Shopper”, UPS, June 2016
8 “Customer Engagement Survey”, EKN, 2015
9 “Profitable Customer Engagement: The Unmet Promise”, RSR Research, May 2016
10 “2016 POS/Customer Engagement Survey”, Boston Retail Partners, January 2016
11 “Digital Commerce Survey For Retailers”, Boston Retail Partners, 2016
12 “Total Retail U.S. Report”, PwC, February 2016
13 “Total Retail Survey 2016: United States”, PwC, February 2016
14 “2016 POS/Customer Engagement Survey”, Boston Retail Partners, January 2016
15 “Priming The Wholesale Distribution Revenue Engine: Implementing An Effective Cross-Selling Strategy”, Deloitte, 2016
16 “The Consumer Decision Journey”, McKinsey
17 “The 2017 Deloitte Millennial Survey”, Deloitte 2017
Discover more retail infographics
Nearly of consumers want
in-store recommendations from roving sales associates equipped with mobile devices.
The retail industry has entered the next phase of analytics: the ability to quickly turn real-time data into a meaningful communication for the consumer.
While mobile payment is table stakes in retail today, forward-thinking retailers will take it to the next level by arming store associates with the ability to cross-sell and upsell at the point of purchase decision.
Retailers’ top cross-channel fulfillment challenges are:
By tapping the endless aisle across
all channels and touch points, retailers can cement the sale by providing real-time personalized offers and product information, wherever the shopper is accessing
But currently, only of shoppers are satisfied with the ability to receive product recommendations based on past browsing and buying behavior.
of U.S. and UK consumers said they would
be willing to have brands send them text messages when shopping at brick and mortar stores to provide personalized offers based on previous purchase history.
want to react more quickly to sudden changes in consumer trends and demand.
want to better understand consumers’ “paths to purchase.”
Retailers must be able to react in real time to customer behavior in order to motivate purchases and build brand loyalists. Using the right analytics tools, retailers can reinforce shoppers’ actions at the right time, with personalized messaging.
To build long-term loyalty and repeat purchases, retailers can use post-purchase messaging and surveys to build strong communities and brand influencers. Messaging can be in the form of future discounts, social good updates or customized product recommendations.
But mobile can be so much more than payment…
Consumer buy-in is key:
of the purchase influence touch points during the “active evaluation stage” include consumer-driven activities, such as word-of-mouth and Internet reviews.