The integration of Symphony RetailAI’s AI-enabled solutions for insights and personalization has enabled the drugstore chain to target more than 4 million shoppers with customized retail offers
DALLAS, March 22, 2022 – Symphony RetailAI, a leading global provider of integrated AI-powered marketing, merchandising and supply chain solutions for FMCG retailers and manufacturers, today announced that through its ongoing partnership with Extrafarma, more than 4 million customers in Brazil have received personalized marketing offers.
Since 2019, the Brazilian drugstore chain has utilized Symphony RetailAI’s solutions, including Symphony RetailAI Category Planning and Symphony RetailAI Personalized Marketing, for customer relationship management.
Extrafarma is the sixth-largest drugstore chain in Brazil, with over 400 stores and an annual revenue around $360 million. Since the beginning of its operations as a family company, Extrafarma has valued each customer and striven to provide the best shopping experience for all. Extrafarma’s loyalty program, Clube Extrafarma, launched in 2003 and today has 10 million participating members. However, as Extrafarma assessed evolving consumer behavior and shopping habits, the retailer identified a need to provide an even more rewarding experience to its growing customer base.
The partnership between Extrafarma and Symphony RetailAI was established in 2019, with the goal of transforming the retailer’s CRM into a digital model that would enable precise, personalized marketing. Through AI and machine learning algorithms, two Symphony RetailAI solutions were deployed to enhance the reach of Extrafarma’s loyalty program and improve its return on investment.
With the integrated use of Symphony RetailAI solutions, Extrafarma has gained confidence in the effectiveness of its promotional activity, bringing immediate results to each campaign. Utilizing the solutions, Extrafarma developed its first personalized channel, a highly relevant in-the-moment coupon called “Minhas Ofertas” (“My offers”) delivered to each customer at the point of sale. Additionally, Extrafarma has seen improvements in its supplier relationships since campaigns are now set up in a collaborative fashion via the shared insights platform. Extrafarma and its suppliers can work together to identify opportunities for reaching their target audiences, leading to incremental sales and greater promotional effectiveness.
“Extrafarma has always been known for our excellent in-store customer service,” said Renato Stefanoni, Commercial and Logistics VP for Extrafarma. “Our partnership with Symphony RetailAI has boosted this and has allowed Extrafarma to further progress on our personalization journey. Each of our customers is unique and their personal shopping habits are important for us to understand. Since we began working with Symphony RetailAI, we are better equipped to market to our customers because we know them better.”
Symphony RetailAI’s personalization platform incorporates a 360-degree view of customer attributes with an AI-powered predictive analytics engine. The solutions prioritize retaining and rewarding loyal customers, keeping current customers engaged, and increasing the appeal to occasional and one-time buyers in a retailer’s marketing strategy. The solution increases relevance and value to the customer, resulting in greater redemption rates. Symphony RetailAI has enabled Extrafarma to run campaigns allocating unique combinations of offers to 4.3 million customers, with approximately 350,000 customers passing through an Extrafarma store during each campaign.
“We’ve found our partnership with Symphony RetailAI to be a true win-win scenario,” said Flávio Almeida, CRM and Private Label Manager for Extrafarma. “Our customers feel recognized and valued because they receive promotional offers or discounts where they matter, on the products they’re already in the habit of buying. As a company, we’ve benefited from improved customer loyalty, which is evident from the increases in shopping frequency, average basket size, and the range of categories represented in a customer’s basket.”
“In working with Extrafarma, we’ve come to understand the value the retailer places on understanding its customers and using data to improve the shopping experience,” said Fabio Silvestri, Vice President of LATAM for Symphony RetailAI. “Using our solutions for customer insights and personalized marketing, Extrafarma has been able to prioritize this even more, making it a true differentiator for them in the market.”
To learn more about how Symphony RetailAI powers profitable revenue growth through personalization, visit SymphonyRetailAI.com.
For 60 years, Extrafarma has operated in the pharmaceutical retail market with the purpose of providing people with access to health and wellness care for living their best lives. With more than 400 stores and 6,000 direct employees, Extrafarma’s network boasts more than 10 million members in its loyalty program, Clube Extrafarma. To find the nearest Extrafarma, visit www.extrafarma.com.br/lojas/.
About Symphony RetailAI
Symphony RetailAI is a leading global provider of role-specific, AI-powered revenue growth management solutions and customer-centric insights for retailers and CPG manufacturers across the entire value chain. Our proven, industry-leading, AI-enabled software, coupled with the industry’s only conversational natural-language AI interface, CINDE, provides key users with proven prescriptive and preemptive recommendations that make it easy to identify end-to-end growth opportunities, activate plans and realize measurable profit and revenue growth. Our solutions are specific to key decision-maker roles focused on profitable growth across the retail value chain from source to consumer. With our strong global partner ecosystem, we serve more than 1,200 organizations worldwide – including 15 of the top 25 global grocery retailers, 25 of the top 25 global CPG manufacturers, thousands of retail brands, and hundreds of national and regional chains – all through the Microsoft Azure Cloud. Symphony RetailAI is a SymphonyAI company. More at Symphony RetailAI.
Ketner Group Communications (for Symphony RetailAI)