Using Data to Create Retail Magic
Reltio, an award-winning provider of the first cloud-native master data management (MDM) SaaS (News - Alert) platform used by companies worldwide to succeed in the digital economy, will host a panel discussion about retail technology in partnership with CMSWire and Simpler Media Group. Executives from Armoire, a high-end women's clothing rental service that curates a personalized, luxury closet powered by machine learning, and Shiseido Group, a multinational beauty and cosmetics brand, will describe how they sustained the fun of shopping therapy over the past year and how they have used data and technology to nurture brand and customer loyalty.
Accenture (News - Alert), a Reltio partner, wrote in a Feb 4, 2021 report, Let's stay together: How retailers can drive customer retention for the long term, that "The pandemic accelerated key trends that were already well under way, such as the use of digital channels by customers who rarely or never shopped online before the pandemic and the extension of digital shopping to new brands. In fact, our research suggests there is a 169% increase in ecommerce purchases from new or low-frequency online shoppers,1 and more than 80% of consumers who have increased their digital usage in a variety of channels during the pandemic expect to continue with these.2"
Retailers and brands that maintained focus on satisfying the needs and desires of customers during the COVID-19 pandemic have outperformed peers. Pivoting to increased direct to consumer (DTC), deploying interactive technologies, personalizing interactions and offers, and creating community are some of the ways category leaders such as Lululemon overcame the challenges of quarantines and shutdowns.
Katrina and Omer will drill down into these trends during "Using Data to Create Retail Magic." Topics of conversation include:
The Retail Reopening
Many brands and retailers have reopened stores or soon will. Promise and possibility abound. Delighting customers by providing exciting, personalized experiences, whether they're shopping digitally or downtown, is important.
Armoire plans to reopen its Seattle boutique and is considering more physical locations, including pop-ups. Shiseido brands include bareMinerals and NARS which have standalone retail locations. The company also sells through other retailers and DTC.
Truly knowing and understanding the customer is critical to the success of these strategies. And unified, reliable data delivered in real-time to any point of interaction and any downstream application is required to get that insight.
Reltio Connected Data Platform meets the complex multi-domain master data management (MDM) requirements of enterprises in real-time. Enterprise 360, Connected Customer 360, and Identity 360 cloud services uniquely provide the flexibility, scalability, security, business continuity, and choice that only a cloud-native MDM SaaS platform can deliver.
Reltio customers include prestigious international luxury consumer brands in fashion, retail, and personal care, major travel and hospitality brands, global pharmaceutical and life sciences companies, and market-leaders in healthcare, financial services, and technology.
Katrina Taylor, Head of User Experience + Product Design at Armoire: "I represent the voice of the Armoire customer, translating her needs, pain points, and aspirations into a curated, unlimited closet. I design the digital customer experience and product every step of the way -- from filling out her style profile, to coming back week after week to select new items from her dream closet."
"Retail looks very different than it did ten years ago. Advancements in technology combined with shifts in consumer needs and behaviors have completely transformed the industry. The last year has only accelerated the need for innovation and imagination as a driving force for retail experiences. Armoire has embraced this opportunity, with data as our compass. Data is the cornerstone of everything we do, and enables us to dream big, and execute delightful, meaningful experiences for our customers."
Omer Iqbal, Senior Vice President - Digital Transformation Office, Shiseido Group: "The last 15 years have been very exciting in the beauty and luxury space, where brands have gone from competing with each other to competing with retailers and now are competing for customers' time and attention. The key is to collect customer data, then turn it into knowledge to drive engaging, relevant, and personalized customer experiences."
Chas Kielt. Program Director, Corporate Communications | Customer and Content Marketing: "I'm thrilled to talk with Katina and Omer about how they combine creativity, data, and technology to provide a customer experience that connects with people at a visceral level. Though operating at different scales, Armoire and Shisiedo create magical moments for customers across multiple channels and despite the challenges of economic and social impact of the pandemic. Fashion and beauty are important to our well-being, to feeling good about ourselves. Join Katrina, Omer and me for insight and inspiration."
Reltio disrupted the master data management (MDM) software market when it launched the first cloud-native MDM software-as-a-service (SaaS) platform nearly a decade ago. The Reltio Connected Data Platform is a proven multi-tenant, multi-domain MDM platform that masters all data types in real-time and at-scale. Customers benefit from agility, scale, simplicity, security, and performance unmatched by Reltio's competitors.
Reltio Connected Data Platform uniquely features big data architecture to manage massive data volumes in real-time for operational, analytical, and data science use cases, an API-first SaaS business model for rapid configuration and responsive data management, and Connected Graph technology to discover relationships. To learn more, visit www.reltio.com.
1 Accenture, COVID-19: New habits are here to stay for retail consumers https:// www.accenture.com/us-en/insights/retail/coronavirus-consumer-habits