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For retailers, customer expectations are evolving as quickly as the technologies they must employ to meet them. As personalizing eCommerce experiences and providing seamless connections between environments grows in importance, retailers must find superior ways to leverage data and produce lasting relationships with their customers.
In 2019, Deloitte found that, among the 25% of global retailers that are leading the industry in terms of their data maturity, these “best-in-class retailers are using advanced data capabilities to enhance their core sales activities and customer experience,” ensuring their ““e-commerce websites are media assets that can connect brands directly with customers in a transactional mindset.”1 Meanwhile, 50% of retailers struggle to access the right talent and prioritize investment in data capabilities.
Now, these leading retailers are leveraging customer data to improve the user experience and drive revenue with improvements to core sales activities. This includes personalizing the look, feel, and navigation of their eCommerce websites; but also improving product recommendations and optimizing incentives that drive loyalty, revenue, and lifetime customer value.
Customer data is foundational to modern retail—not to mention all the innovations that will follow. So, why are so many retailers struggling to leverage data-driven technologies to their advantage? What are the internal strategies that will help them succeed, and how can each build an enterprise that will use automation, AI, and human intelligence to meet the customer demands of tomorrow?
In Optimizing UX and Lasting Customer with Inclusive Data Solutions, the WBR Insights research team explores the impact data technologies have on not only on optimizing customer experiences, but designing customer ‘communities’ retailers can facilitate for consistently positive outcomes. We’ll explore the possibilities for data and UX in the near term, then uncover how AI and automation can optimize processes to evolve with consumer expectations. Finally, we’ll provide direct insights from retailers about the implication of these new tools and how they drive the bottom line.