Shopping is becoming even more high tech, and those who can personalize the experience through the click of a mouse will leave those who can’t in the dust.
The merging of technology and data can boost retailers’ profits, draw customers, increase brand awareness, and instill loyalty. That was the recurring message at the Shop.org Digital Summit hosted by the National Retail Federation here this week.
In a global B2B survey conducted by Avanade, 56% of purchasing decision-makers within companies report that they will (and do) pay more for products/services if the customer experience is better than with less expensive retailers.
Retailers across product categories are focusing strategically on integrating their business divisions and improving their omnichannel customer experiences.
Of all retail players, L2 spotlighted Nordstrom and Neiman Marcus as omnichannel leaders in a new report. The research firm also highlighted other industry players for their efforts. In the luxury category, Gucci and Louis Vuitton had significant omnichannel gains in 2015, largely driven by their e-Commerce efforts. Mass retailers Walmart and Best Buy, meanwhile, were recognized for their efforts to drive in-store traffic and engagement.
Creating a great digital experience is more critical than ever for retailers, as shopping behavior shifts and the influence of digital on customers’ purchasing decisions grows. But when you get down to the nuts and bolts of improving the digital experience, determining where to start can be difficult.
TTS Group has teamed up with RichRelevance to make online shopping easier and quicker for parents and teachers stocking up on school supplies. The latter’s Recommend technology is being used to tailor shopping journeys using real-time consumer behaviour. We have seen huge success since partnering with RichRelevance. In the first month of implementation, we saw a significant increase in sales on products that were personally recommended to our customers, says Jon Vasey, head of e-commerce at TTS Group. Children grow up quickly and the products that our customers purchase may change significantly from month to month. Using RichRelevance’s Recommend solution, we can target product recommendations for different age groups that match our customers™ immediate needs.
Rich Relevance has been selected by TTS Group to deliver highly unique and customisable experiences for busy parents and teachers. The educational retailer uses Recommend™ to curate unique shopping journeys based on real-time customer behaviour on the website.
TTS has a vast catalogue of products from teaching materials to stationery and furniture that cater for different age groups ranging from early years through to primary and secondary schools. With RichRelevance’s Recommend solution, customers are quickly directed to the product pages based on related items they are browsing. Since the implementation, TTS has seen an increase in sales and repeat customer visits.
Data-driven recommendation technology delivers highly personalised customer experience