You have the power to transform the shopping experience. How? Through data analytics and new store technology, it’s now possible to data-optimize every touchpoint and build stronger relationships with your customers. But with consumers taking innumerable paths to purchase—across more channels and preferences than ever—how do you corral all that data for a more personalized and cost-effective experience?
In today’s highly competitive retail landscape, personalization has become a key revenue driver. Almost three quarters of consumers now expect personalized interactions, and more than that are frustrated when it doesn’t happen. We know that the retailers who master personalization are winning that battle. Faster-growing companies drive 40% more of their revenue from personalization than their slower-growing competitors.[1]
To compound that, there’s a wide gap between intention and impact. While 95% of retail CEOs say they are strategically prioritizing personalization, only 23% of consumers think retailers are doing a good job. But it’s critically important to get that right with 91% of shoppers saying they’re more likely to buy from retailers that correctly use their name and provide relevant personal recommendations. Let’s look at three critical success factors.[2]
First Factor: The intelligent store
This is a direct call to action for retailers to deliver more robust, viscerally satisfying experiences and personalized customer service. That means evolving personalization, seamless purchasing, and intelligent stores that can help you:
Second factor: United data for unified commerce
No matter how technologically impressive your shopping experience, it must be informed by a complete view of the customer—their history, preferences, previous touchpoints, and expectations. That calls for a single view that’s only possible through unified data. With that you can deliver a seamless shopping experience to increase engagement and drive conversions across channels, enabling you to:
Third factor: Data-comprehensive advertising
In the data-driven retail world, advertising is about delivering what the consumer wants next before they ask you for it. If you wait for them to come to you, you’ve already missed most of your sales chances. Microsoft Partners and their Digital Advertising Solutions can help you ensure your ad spends enable you to:
AI is the foundation to retail efficiencies and topline growth and Microsoft and our partners’ solutions are ready to deliver meaningful shopping experiences, in any channel, that delight at scale!
[1] McKinsey, The value of getting personalization right – or wrong – is multiplying, Nidhi Arora, Wei Wei Liu, Kelsey Robinson, Eli, Daniel Ensslen, Lars Fiedler, Gustavo Schüler, November 21, 2021
[2] “Personalizing the customer experience: Driving differentiation in retail,” Erik Lindecrantz, Madeleine Tjon Pian Gi, and Stefano Zerbi, McKinsey & Co., April 28, 2020
With Amperity, brands can build a first-party data foundation to fuel customer acquisition and retention, personalize experiences that build loyalty, and manage privacy compliance.
Trial Run is a Fractal AI product to design and measure in-market tests in a statistically and scientifically sound manner.
Bringing speed, agility, and the power of AI through trusted, innovative technology, Sitecore and Microsoft enable leading brands to streamline content orchestration so they can deliver personalized, channel-less shopping experiences at scale.
Every hour, the retail industry generates 40 petabytes of data—a staggering amount of information. That’s equivalent to 400 million photos being uploaded to Facebook in 60 minutes. If you can leverage that data, you have the potential to completely transform your business. You’re on the cusp of delivering more effective retail experiences such as omnichannel engagement, digital convenience, experiential journeys, and personalized outreach across the entire value chain.
Wherever you are on your data journey, you have access to Microsoft and our partners to unify your data for analytics for consumer insights and operational breakthroughs. We can help you centralize your ecommerce, in-store, and other data within a single, governed hub to responsibly democratize analytics and build the AI models that will foster stronger customer connections. Microsoft and our partners’ retail solutions harness that data for bigger innovation and faster business decisions.
Below you’ll find key solution partners within our global ecosystem. Each partner has been thoroughly vetted and brings proven expertise in data and AI for retail organizations. Learn more about each of them to find the one that’s right for your challenges.
With Amperity, brands can build a first-party data foundation to fuel customer acquisition and retention, personalize experiences that build loyalty, and manage privacy compliance.
ai.RETAIL delivers profitable growth using AI, purpose built for retail, to gain a deep understanding of customers, scale personalization, tailor product offerings, optimize supply chain, and manage risk and sustainability across the business.
DXC Intelligent Boost is a next-generation IoT end-to-end platform that provides actionable analytics.
Trial Run is a Fractal AI product to design and measure in-market tests in a statistically and scientifically sound manner.
Leverage Microsoft Azure to provide a scalable foundation for smart restaurants, food service spaces, and retail establishments.
NICE CXone is an industry-leading, next-generation cloud contact center platform and the only enterprise-grade CCaaS solution running on Azure.
Bringing speed, agility, and the power of AI through trusted, innovative technology, Sitecore and Microsoft enable leading brands to streamline content orchestration so they can deliver personalized, channel-less shopping experiences at scale.
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Experience intelligence.
Companies don’t purchase products or services anymore. They embark into constructive experiences that help them to better manage their operations and processes while enriching their sense of satisfaction and improving the value of related outcomes.
tutch is an Australian-based SAAS company, on a mission to help retailers enhance their customer experience, through a cost- efficient, effective, and integrated software solution and now expanding into the US. The tutch platform allows retailers to interact digitally with their customers whilst in-store, unlocking a new level of connection with customers. Empower your team and customers to search, select, and purchase products through tailored digital customer journeys.
Wipro Energy Data Centricity services and capabilities, built on the Microsoft Cloud, unlocks the value in your data.