The Challenges Retail Brands Face in 2021

Retailers — it’s crunch time. We learned that only 9% of retail brands are updating their customer data in real-time. This is a crucial bit of knowledge, it tells us that retailers — the ones who benefit most by targeting offers to their customers in real-time, in the moment — are struggling. You can no longer depend on that third-party data that everyone, including your competitors, has. It’s time to get smart with your data collection strategy. In this episode of Thinking Caps, Richard and Tim dive into the latest report from Forrester and share what those retail marketers who are falling behind with their siloed data and shattered view of the customer can start doing right now to catch up. Don't forget to download your copy of Connecting the Retail Dots to take your assessment.
 

Connecting the Retail Dots

 

Resources mentioned: 

  • Retail Dive, "Forrester: Few brands can anticipate and act on consumer needs"
  • Forrester, "Anticipatory Experiences: The Challenges"
  • Salling Group, "How Salling Group Increased Daily Active Loyalty Members by 10x"
  • Vans, "How Cheetah Digital Grew the Vans' Family Loyalty Program to Over 12 Million Members in Just 2 Years"