The Importance of Product Information Management Solutions in Creating a Compelling Customer Experience.

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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.