Personalization; Credit Card Hacks; Chinese Retail

The numbers you need to know today

April 2, 2018

Creating Customer Loyalty: In a new BRP (Boston Retail Partners) report about personalization, many retailers said they provide specialized offers to entice consumers to give up personal information. More than three-quarters of retailers said they could identify their most valuable customers, but 69% thought there was room for improvement. Of the respondents that could identify their most valuable customers, 69% shared this info with sales associates so they could potentially personalize the store experience using mobile tools. 

Another Week, Another Data Breach: Under Amour-owned MyFitnessPal's breach is already old news, now that Saks Fifth Avenue and Lord & Taylor's credit card hack has emerged. Details were stolen via in-store payment systems, and ecommerce data is thought to have been unaffected. Most consumers are more concerned with online threats than in-store hacks. The leading privacy-related action taken by internet users in the US and Western Europe was limiting the amount of personal data put online and shared with companies, according to RSA.

Robots Are Rising: China appears to be leading the future of retail, at least from a tech perspective. Amazon Go, with its single location, is the height of retail automation in the US, where privacy concerns, rather than tech issues, are a hindrance. By contrast, China has a chain of more than 100 cashierless convenience stores called Bingo Box, Alibaba opened 35 Hema stores to sell groceries unmanned, and is testing its own automated convenience stores. In addition, Walmart—which sees online shoppers in China spend twice as much as their counterparts in the US on its retail site—just opened its first smaller-format store in Shenzen. Shoppers can pay via WeChat and have items delivered in as few as 29 minutes within a 1.2 mile radius.