Customer Data
Technology has created an omnichannel world that's bringing together physical and digital shopping experiences and offering a proliferation of touchpoints that influence consumersโ brand opinions and buying behaviors. Marketers are scrambling with how to deal with this new reality, and often there's a lack of insight on how the paths to purchase are influencing salesโฆ
Many major e-commerce players such as Amazon.com, Taobao, Tmall and JD.com have already gone global, and theyโre erasing customer borders for other retailers. Now, merchants in countries like China can access consumers in the U.S. and vice versa. While reaching new customers worldwide has its benefits (Chinese customers account for about half of e-commerce purchases,โฆ
You know what they say about making assumptions, right? Well itโs true in life and in customer support. For years, marketers and customer experience leaders have leaned on traditional assumptions of customer needs and preferences when identifying when and how to engage with consumers. The problem is that these types of assumptions oversimplify who theโฆ
Will consumers have second thoughts about shopping at a retailer this holiday season that has experienced a data breach in the past? Chances are, they will. Perhaps because the sheer number of data breaches in recent years have raised consumer awareness about the potential damage from identity theft, Americans are increasingly wary about engaging withโฆ
"We call it brick mining. When you take the data that you collect from that customer in a retail location, you can get to know your members and guests much differently than you could online only."
In todayโs competitive market, retail executives often find themselves suffering from one of the most perplexing questions of the digital age: โWhat do we do with all this data?โ With the amount of information generated, gleaning meaningful, actionable insights is a challenge. This mountain of data gives way to โanalysis paralysisโ in many organizations asโฆ
Successful businesses must be customer-centric. Retail marketers know itโs important, but theyโre confused about how to make it happen. This is understandable, considering some of the challenges they face. Retailers still have a myopic view of customers, and thus they're lacking answers to basic questions such as the following: Where is most revenue coming from? What are the challenges associated with generating repeat purchases from loyal customers? Where do we need improvements to our customer marketing, channels, products and services?
In this ever-changing marketplace, retailers are in constant pursuit of people-based marketing strategies to meaningfully improve shopper experiences, both in stores and online. Shoppers expect retailers to know their preferences, show them items they might be interested in, and make it easy to shop, buy and receive their orders fast. With the holiday season uponโฆ
The heat is on retailers to become customer-centric. Customers have higher expectations than ever before, and competitors that reliably meet those expectations seize a reliable edge. The key is to put the customer at the center with cohesive data and purpose, starting at the top.
Just as our devices are getting smarter, so are the hackers trying to break into them. Cybercrime will cost the world in excess of $6 trillion annually by 2021, according to a report by Cybersecurity Ventures. While this costly crime affects a multitude of players in retail โ including consumers, credit card processors and merchantsโฆ