Technology

According to this infographic by McKinsey, “Retail Success today is all about developing the tech, tools and talent to be relevant to the individual.” We completely agree with McKinsey: The future of retail is “me-commerce.” The best way to prove this is to note this fact: “Amazon’s recommendation engine accounts for approximately 30% of its revenue.”1 And this is from 2012. The trend continued on and...

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At this point, all retailers should see the value in providing consumers with personalized shopping experiences. And in this world of omnichannel retail, that experience should be blended between online and offline channels. Unfortunately, it has been difficult to provide this experience in offline channels, specifically in-store, due to difficulty in understanding consumer behavior. However, due largely to the smartphone, collecting consumer behavior data in-store...

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Pretend this person’s name is Katherine Doe. Now, let’s also assume she is a customer of yours. Katherine is probably someone who expects a personalized shopping experience; this is safe to assume because “70% of consumers want more personalized shopping experiences.”1 You might think that knowing her first and last name is the key to providing her a personalized shopping experience. You would be wrong,...

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Every company, whether B2B or B2C, gets to a point where customer information must be organized and utilized to grow the business. Software that accomplishes this goal is generally referred to as a Customer Relationship Management (or CRM) service. Among the first players (and now the largest) to satisfy that need was Salesforce.com. They built an awesome product, originally created to help B2B sales organizations...

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