- “When the chain paid $300 million for Dynamic Yield two years ago, it was central to the company’s digital strategy and one of its largest acquisitions in decades.
- The company works with other clients besides McDonald’s, and that business has grown since the acquisition and now works with 300 other brands globally.
- It facedpressure from franchisees and Wall Street to show better results after from its technology investments — part of a push by former Chief Executive Officer Steve Easterbrook, who was ousted in 2019.”
- “‘There will be no return to the status quo,’ said Natalie Berg, retail analyst and founder of NBK Retail. ‘The days of being everything to everyone are well and truly over: In order to find their tribe, retailers need to be bold about who they are and what they stand for.’
- Divided into Family Firsts, Aspirational Achievers, Here and Nows, Savvy Fashionistas and Conscious Consumers, the tribes refer to specific types of shoppers – who want different things from brands. If a business can identify its main shopper base, it can target strategy accordingly.”
- “80% of shoppers are more likely to purchase from a brand that provides personalized experiences.
- Another common misconception about personalization is that lengthy and intensive preparation is needed before implementation. The fact is, you don’t need a wealth of customer data to begin personalizing the shopping experience on your store, nor should you wait until you reach that point to get started.”
“If a customer wants to set money aside for an important project, this solution can first look at the financial situation, possibly determine an amount that can be saved monthly based on the spending pattern (balance forecast), detect some saving opportunities by analysis recurring expenses (contract management) and propose some partners’ offers to reduce the final price (merchant couponing). At the heart of such customer journey: AI, financial analysis, and payment will be core services while chat- and voicebots will highly simplify the recurring interactions with end-users.”