CREATING THE ULTIMATE RETAIL EXPERIENCE

For years, marketers preached that the customer was king. In reality, customer-centred design submitted to distribution; mechanical limits on production and delivery set firm parameters on what the customer could purchase and possess. But that is all changing, rapidly. Now, living in a world of once-unimaginable connectivity and personalisation, customers are dictating the pace, variety, and quality of service. What once seemed an empty prophecy is being fulfilled – the customer is now king.

Retailers appreciate this shift in power and are now moving to remodel themselves around the customer. For some, this change is a shift in focus, a subtle reorientation. But for most, delivering on the customers’ expectations has required seismic restructuring and the establishment of core, data-driven capabilities. There is now a clear mandate for a new breed of marketing professional who acts creatively atop a platform of actionable data intelligence.

Connect Media along with Zendesk gathered a diverse group of leading retail executives to discuss this ongoing empowerment of the customer. Here is what they had to say.

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.

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.