Database Marketing
July 22, 2015 at 3:40 pm
As consumers increasingly reveal their shopping habits online, retailers can access social media, purchase history, consumer demand and market trends to better understand their customers, maximize spending and encourage repeat purchases. Retailers are considered early adopters of big data technology, integrating it into every imaginable business process to achieve a deeper understanding of consumers and…
July 7, 2015 at 1:59 pm
The numbers are mind-boggling: a new research report from retail analyst firm IHL Group, sponsored by OrderDynamics, points out that retailers worldwide lose $1.75 trillion (that’s trillion, not billion) annually in revenue opportunities due to the combined costs of overstocks, out-of-stocks and sales returns. It’s a phenomenon that IHL and OrderDynamics call the “Ghost Economy,”…
June 30, 2015 at 2:43 pm
As you probably know all too well, data is the backbone of the retail industry. On top of that, retail is also one of the most competitive industries, so chances are good that your competitors collect the same data as you. The only way to remain relevant in this cutthroat environment is to leverage the…
June 17, 2015 at 5:04 pm
Cloud, cloud, cloud … it’s not just buzz, it's being used everywhere. And one of the industries with visible impacts from cloud adoption is retail. But how great is cloud for retail really? An Accenture study projects that the cloud market will triple this year in retail, comprising a $15.1 billion business. Why are people…
May 27, 2015 at 6:52 pm
The fashion times are a-changin’. New products have an estimated failure rate of 50 percent, costing over $400 billion each year collecting dust on store shelves. With that kind of risk involved, a systematic assessment of consumer preferences should be par for the course. However, retailers are constantly struggling to determine what styles consumers are…
May 18, 2015 at 3:41 pm
U.S. luxury sales have grown in recent years due to strong demand from domestic luxury consumers and foreign tourists, according to a Euromonitor International report. In 2014, luxury sales increased because of robust demand from domestic consumers and foreign tourists visiting the United States. In fact, the global luxury market had 330 million consumers in…
April 2, 2015
Today's customers expect seamless, personalized and consistent experiences wherever they shop. To meet this need, big data technologies are evolving to gain insights and foresee customer behaviors. Predictive analytics for customer engagement is a process that translates large quantities of data into business insights to calculate the likelihood of a future outcome. The adoption of big data and predictive analytics is the foundation to staying competitive as benefits range from engaging customers with relevant content to larger cost savings to boosted customer loyalty. Consider the following points in further detail:
February 23, 2015
Offer great customer service, make sure your messaging is personalized, and have a single view of the customer are some of the best ways to create brand loyalists. These were a few of the key takeaways from a panel discussion on customer retention that took place at the eTail West conference last week in Palm Desert, Calif.
October 20, 2014
Personalizing consumers’ shopping experiences — whether in-store or online — is the goal of most every retailer today. With the ever-increasing amount of data collected by marketers, and specifically retail marketers, consumers have come to not only expect relevant, personalized experiences, they demand them. And if you don't give them what they want, they'll happily move on to one of your competitors. Therefore, it's become incumbent upon retailers to deliver true one-to-one marketing at massive scale.
February 24, 2014
In tomorrow's Retail Online Integration webinar, Personalizing the Online Shopping Experience — Thinking Beyond %%FirstName%% (register for free here!), David Pyrzenski, a product consultant for digital marketing technology provider Silverpop, will discuss personalization tactics online retailers can take that will drive more engaging campaigns, more loyal customers and, ultimately, more sales. To give you a sneak peak into some of the topics David will address in tomorrow's webinar, I interviewed him last week. Here's that interview:
