Used effectively, AI can shape all aspects of the retail organization from supply chain to e-commerce to marketing.
One of my favorite parts of my job is talking to forward-thinking retail executives about what they’re working on, the innovative projects they’re leading, and where retail goes from here. As such, I recently had the opportunity to catch up with Scott Emmons, Head of the Innovation Lab at Neiman Marcus about the future of retailing. Scott has his finger on the pulse of innovation in retail, and he offered thoughtful responses that you’ll surely find valuable.
Knowing the customer means many things; for example, it means offering her the personalized, pleasant shopping experience that accommodates her shopping style, be it face-to-face, online, over the phone, or via mobile engagement. It means offering flexible fulfillment options. It also means knowing your target audience, the demographics of the specific segment of the population with shared characteristics that draw them to your brand.
I’ve spent a lot of time on the road over the past several weeks attending various industry events, and one of the major topics discussed at all of them has been the evolving role of personalization in omni-channel retailing.
You’ve read time and again that Millennials want to be aligned with companies that value and promote work/life balance as well as maintain an ethical social conscience and an unwavering commitment to philanthropy. Yet Millennials have a reputation for being flight risks when it comes to their jobs. So, beyond a flexible schedule and an altruistic work environment, what else is there? What are some other things retailers can do to make ‘em stay?
Location-based technologies continue to help retailers build brand advocates and deliver contextually relevant messaging to customers. Indeed, The Location Based Marketing Association (The LBMA) just released its Global Location Trends Report, which is based on the findings from an online study conducted in the United States, Canada, Germany, the United Kingdom, and Singapore. Owners/co-owners, CEO/Presidents, CMOs, and Marketing Managers participated in the online survey to share their current usage and investments in location-based marketing as well as future goals on implementing this technology.
As 2016 gets underway, retailers must be well past the point of retail-as-usual. We’re in an industry in transition, and, as such, I’d like to share some transformative trends that innovators will leverage to shape customer engagement in 2016.
You can’t talk about innovative retail technologies without discussing digitization. Much has been written about retail’s digital transformation and what it means for the retailers who embrace it, or worse, the retailers who don’t.