In retail today, technology is playing a vital role to offer the best experience for customers. It has enabled retailers to personalize the relationship between the customer and the retailer. In our latest MCM CommerceChat podcast, Logan Crane, Vice President of Operations for Boll & Branch talks about how the brand has used technology to get a more centric view of the customer journey.
Kohl’s has taken steps to improve the omnichannel customer experience using an innovative promotional model, personalization and its marketing efforts, attendees were told at eTail West. CMO Greg Revelle said the company’s core mission is to serve families with great products, savings and easy experiences.
Today’s retailers have to jump through hoops to meet customer expectations and gain their trust and loyalty, and in the age of omnichannel and mobile, email is still one of the most effective ways to do this. Oracle+Bronto along with Smile.io will cover ways merchants can offer a unique customer experience in the upcoming Multichannel Merchant webinar, Use Email to Build and Emotional Connection in 2019, on February 12 at 2 p.m. EST.
There’s a disconnect between what retailers offer customers and what they want in terms of new technologies in the shopping experience, according to a study by Oracle + Netsuite, The Retail Doctor and Wakefield Research. The global study of 1,200 consumers and 400 retail executives across the U.S., UK and Australia found the disconnect spans retail, social media, personalization and the use of advanced technologies such as chatbots, AI and VR.
Not so long ago, catalogs fell out of favor in the marketing world. During the 2007-2008 recession, retailers sought ways to cut costs, and many dramatically changed or eliminated catalog production as ecommerce and social media advertising took off. Millennials, whose collective wealth could reach as much as $24 trillion by 2020, are helping to revitalize catalogs in an era of ecommerce and social media advertising.
Throughout 2018, retailers focused on providing creative, interactive and friction-free shopping experiences for customers. In 2019, you can expect this evolution to accelerate, with personalization and obsessive customer focus at the heart, and new influencer marketing catering to a more individualized consumer experience.
While there were several closures of traditional mainstays who failed to fully adapt to changing consumer needs and expectations, brick and mortar is finding new life through deeply integrated and personalized shopping experiences. As the New Year approaches, here are a few things we can expect to see from the retail industry.