NRF 2020: Retailers Gather at the Big Show to Consider Their Next Steps

“Retailers are deploying artificial intelligence both online and in-store to help analyze data, deliver unique customer experiences (both onsite and online) and manage their back-end operations. PetSmart will discuss how it is deploying AI to manage its IT operations, and Amazon Pay will discuss the role of voice-based AI technologies in reshaping customer interactions.”

https://www.google.com/amp/s/biztechmagazine.com/article/2020/01/nrf-2020-retailers-gather-big-show-consider-their-next-steps%3famp


NRF Big Show 2020

https://nrfbigshow.nrf.com

Punchh raises $40 million for AI that promotes customer engagement and loyalty

  • “Punchh, a startup leveraging machine learning and omnichannel integrations to create customer journeys, today revealed that it’s closed a $40 million series C round
  • Punchh says its clients experience an 85% uptick in offer redemption rates on average and an 84% boost in loyalty participation rates, as well as a 58% loyalty check lift. It claims to have reached over 125 million consumers across 200 corporations with 80,000 locations”

https://www.google.com/amp/s/venturebeat.com/2019/11/14/punchh-raises-40-million-for-ai-that-promotes-customer-engagement-and-loyalty/amp/

KOHL’S CALLS ON AI TO HELP POWER THROUGH HOLIDAY SEASON

  • “As it navigates against a bevy of competitors this holiday season, Kohl’s is turning to machine learning to help it power through. The Menomonee Falls, Wisconsin-based retailer is working to incorporate artificial intelligence into its digital media buying
  • Kohl’s is not the only marketer leaning more heavily on AI. Earlier this year, Chase announced a five-year deal with Persado, a company that applies AI to marketing creative copy, following a successful three-year test.”

https://adage.com/article/cmo-strategy/kohls-calls-ai-help-power-through-holiday-season/2213221

Deloitte Challenges Retailers To Look At Their Businesses Using New Retail Metrics

“Deloitte has done more than just talk about it. The firm has proposed a new retail metrics model in a report entitled “The Future of Retail Metrics: Measuring Success in a Shifting Marketplace.”

  1. Retail-profit-per-transaction
  2. Sales-per-unique-customer
  3. Enterprise value measures revenue growth, return on invested capital (ROIC) and free-case flow (FCF)”

https://www.google.com/amp/s/www.forbes.com/sites/pamdanziger/2019/09/15/deloitte-challenges-retailers-to-look-at-their-businesses-using-new-retail-metrics/amp/