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47


THE SHARP RISE OF DATA URE


OOFING ichannel il


By John Norrie, chief executive at Tranxactor


Research), retailers are right to question where their future is and how they can harness these amazing insights to create a better experience for their customers. The bad news is, the wealth of information


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isn’t correlating to a better customer experience. An EY survey of 130 C-suite level retail


executives across Europe, Asia and North America found that only 5% of businesses consider their customers to be loyal, and despite the fact that 87% of retail leaders see a loyalty strategy as key to how successful their business was, just 19% currently feel able to leverage their data and systems to understand individual customer needs. With Murphy’s Law at play, you can bet


your bottom dollar that at the same time as retailers struggle to use data to the customer’s advantage; the customers are impatiently waiting for the retailer to play catch up. 80% of consumers in Britain surveyed in a 2017 Rich Relevance study reported they were happy to exchange their personal data for a better shopping experience. To level the playing field and compete, retailers must access technologies that help them identify, track


mongst this, is the automation arms race – and with stats coming out suggesting that automation will replace 9% of all US jobs this year (Forrester


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