Retails last resort? Extreme Personalization by Sameer Patel

“Brands are still batching and blasting emails in the hopes that they will make it up in the numbers. Mobile, Email, Web and offline presence are treated as disconnected channels…
  • 91% of us unsubscribe from emails (Salesforce)
  • 44% of direct mail is never opened (NewsCred)
  • 60% of us opt out of mobile push notifications (Kahuna)
  • Over $280 billion is abandoned in digital shopping carts, every year (Google)
Jeff Bezos devoted his recent shareholder letter to four topics and one of them was the use of machine learning and AI. As Bezos points out in the letter:
‘Much of what we do with machine learning happens beneath the surface. Machine learning drives our algorithms for demand forecasting, product search ranking, product and deals recommendations, merchandising placements, fraud detection, translations, and much more.’
And as a result…
‘It’s a virtuous cycle that allows Amazon to highly personalize its offerings, better predict what consumers want next, and pursue innovations at high velocity. All of this translates into competitive advantage for the ecommerce giant.’”