Leading fashion brand, GANT has seen online sales improve by 15% since putting their trust in personalization.
As our attention spans shrink by the minute, retailers are experimenting with different practices to reach a highly distracted customer. Retailers are not only battling each other but they are also competing with the myriad of distractions that surround our everyday lives. As retailers look for effective ways to reach their customers they must ensure that they provide personalized and appealing content to attract their customers. Personalized content not only reduces bounce rates, but also drives more relevance to customers and increases brand awareness. With this in mind, RichRelevance and Amplience launched our joint solution, Open eXperience Cloud (OXC).
There are two contrasting trends emerging in retail – fast and frictionless verses experiential and time well spent.
Recent technological advancements in retail have focused on speeding up the customer experience, making it as efficient as possible, especially around the checkout; as we’ve seen in the Amazon Go stores, where it’s been eliminated completely. In contrast, the growing experience economy has placed greater emphasis on the notion of ‘slow retail’ – slowing down the shopping experience by creating even more ways for shoppers to engage with brands in a way that goes beyond transactions to memorable experiences. Think REI and their in-store rock face or Sweaty Betty and their in-store fitness classes.
So what is the right strategy for a retailer to pursue to be successful?
From UK consumers wanting more transparency from retailers about AI, to less than a quarter of companies reporting GDPR compliance post deadline, here are all the stats you need to know this week….
More than half (55%) of global consumers say that they prefer a combination of AI and human interaction in their shopping experience, yet only 10% of companies are willing to implement it, says a new study….
RichRelevance has released research which asked 1,047 UK consumers to rate a number of different technologies and trends as either ‘creepy’ or ‘cool’….