So, you just started as a Sr. Product Manager at an online apparel retailer and “personalization” falls squarely in your lap. Product recommendations are already implemented on the site and are doing reasonably well—but, being the over-achiever that you are, you’ve promised your boss an additional 2% revenue per session lift in the next quarter, and are now scratching your head wondering just how to accomplish that feat.
Malcolm Gladwell recently popularized the term ‘outlier’ when referring to successful individuals. In data terms, however, outliers are data points that are far removed from other data points, or flukes.
David Selinger discusses how retailers can take a page from Amazon’s playbook to benefit from targeted ads on Squawk Box CNBC. Watch the video here.
The Big Data revolution at Google, Facebook, Amazon and Apple has transformed the consumer journey across channels, and even helped turn a presidential election. This transition simultaneously poses tremendous challenge and opportunity to retailers.
* Face scans, heat sensors, phone signals used to track shopper
* Smart data allows stores to copy e-commerce personalisation
* Store wi-fi can track shopper within three metres
* U.S. data firms agree privacy code of conduct
* Mobile ad spending seen tripling to $39 bln in 2018
You may not be using your phone, but it is giving out a unique signal that the retailer may be monitoring. A face scanner may check your age and gender while sensors pick up your body heat to help locate popular parts of the store.
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Independent survey recognizes RichRelevance as one of most influential e-commerce vendors based on market reach for second year in a row
Promotions across technical team enable RichRelevance to better serve key customers
Two stories that illustrate UK consumers’ very different reactions to personalisation emerged this week. On the one hand, a (social) media storm erupted when it was reported that Tesco plans to use face-scanning screens in its garages to show relevant adverts to those waiting to pay, based on their age and gender.
On the other hand, a survey of online shoppers by the IDC and RichRelevance found that many value personalisation technologies. The study found that 53% of the UK consumers it quizzed said personalised product recommendations were clearly relevant to them, and 26% said personalisation made them more likely to return to shop at the same retailer. Timing, it seems, is also important, with 45% of UK consumers using recommendations because they are presented at the right time in the decision-making process. There’s more detail from the study here.
It seems to me that both of these two stories have something to tell us about personalisation and its impact on UK consumers.
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