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Future of Retail — Omnichannel


issue 07


and connect with their customers. We’re not just talking loyalty cards either


– consumers are signing up for fingerprint- enabled payments, voice-enabled ordering, facial recognition and even smart mirrors and are looking for real-time insights, deals that meet their mood, personality and location.


RETAILERS SHOULD AIM FOR ACTIONABLE CUSTOMER INSIGHTS You’ve probably heard the stat from McKinsey Global Institute (MGI) that retailers exploiting data analytics at scale across their organisations could increase their operating margins by more than 60%. Retailers need to start capturing


actionable insights that can help them. Whilst comprehensive sales and product data is readily available from most POS systems, we see what is typically missing is the critical


data that ‘joins the dots’ between the sale and the customer, and even deeper, the customer’s purchase history, demographics and responses to marketing communications and promotions. Smart retailers will be able to quickly turn around insights into life stage analysis, see who is utilising a loyalty card, what store, group or brand is trending, as well as how reward programmes stack up over time. Technological advances are rapidly


changing the loyalty playing field. In the old world, customers would typically have a plastic card scanned on payment, then rewards would be received as coupons or offers through the mail and by email. Today’s customers and retail customers of


the future will demand that the brands they love have an idea of them as a consumer, which means retailers need to get comfy


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