CONSUMER SIGNALS AND THE FUTURE OF RETAIL

We are mining the intricacies of our lives in greater depth than ever before. Digital touchpoints are exploding across the consumer landscape; soon, nearly every aspect of our lives will be governed by a digital interface. We are constantly projecting a complex and interwoven series of signals that, when correctly connected, map out our lives with frightening specificity. Only artificial intelligence is capable of deciphering this new, digital cartography.

As consumers, we have come to predict and expect the level of hyper-personal, finely-curated content that artificial intelligence delivers. Brands must create in-store experiences that reflect and augment our movements online. And as the traditional boundaries of retail evaporate, brands must know when to engage, intrude and escalate, and when to show restraint. In the eyes of consumers, each platform, and every device, is simply one way of seeing a familiar face; no thought is given to enterprise structures and systems. All that matters is a seamless and consistent experience.

The bar for retailers is therefore set at a considerable height, and the path to reaching and exceeding the competitive benchmark for seamless, hyper-personalised, omnichannel retail is littered with pitfalls. Artificial intelligence, effectively implemented, becomes an indispensable ally in this pursuit; and, in the hands of the competition, a formidable foe.

Lucidworks and Connect Media gathered leading digital and marketing minds from some of the nation’s preeminent retailers for a candid discussion on how businesses are responding to soaring consumer demands. Our conversation unearthed shared frustrations as well as numerous opportunities – this is what they had to say.

STORIES ARE BEST SHARED

The fourth industrial revolution is rapidly outgrowing its adolescence. Technology is advancing at an exponential rate that is simply unprecedented in human history. And consumers are reaping the benefits, with new competitors arising on the back of consequential technologies to cater to hyper-personal requests.

Established enterprises are reflecting earnestly to identify their own vulnerabilities and build resilience moving forward.

Improving working capital efficiencies is a crucial yet often overlooked dilemma within this wider recalibration. Consumer driven change is so entirely pervasive that the most fundamental structures underpinning business operations are feeling an impact.

Pressures and expectations are steadily growing on financial executives to absorb this consumer-driven change. In response, AMEX united CFOs from a wealth of industries to give this dialogue the volume it deserves. This conversation unearthed a number of shared frustrations, as well as shared opportunities – this is their story.

DATA DRIVES THE FUTURE OF RETAIL

Customers, the protagonist of our retail narrative, are fundamentally changing. They are shopping in the moment, and that moment has become ubiquitous. Brands are challenging held business assumptions to remain part of the story.

CRITEO along with CONNECT MEDIA gathered a diverse group of leading retail executives to write the next chapter of this narrative. From conversion and attribution to segmentation and dissemination, there is no doubt the data-infused web that is retail can entangle brands. But for every shared struggle there is shared opportunity. Here is what they had to say.