For most US retailers, personalization capabilities are key to success, but data from RIS reveals many are still facing obstacles
A study from Accenture finds that some 41% of consumers say they stopped doing business with a company this year because of poor personalization experience and lack of trust for brands and retailers.
The fashion industry is in the doldrums, with store closings and bankruptcy filings from department stores and specialty retailers. But there’s one hip fashion that the industry is banking on: data.
By now, marketers understand the importance of personalization, and most brands aim to provide consumers with highly curated experiences whenever possible. But it’s not just up to the brand—personalization is only as effective as the data that drives it.
Recent data from RetailWire underscores the importance of personalizing the in-store experience, and the need to take a broad view of customer interactions when thinking about working with shoppers in the store.
Most retailers are persuaded of the value of personalization and have made at least some effort to make personalized offerings to shoppers. But many are struggling to get beyond entry-level tactics.
Josh Lieberman, executive vice president of digital at Barneys New York, discusses the luxury retailer's next move to offer more precise personalization for its customers.