Gartner retail research findings indicate less than 10% of Tier 1 retailers believe they are highly effective at personalization and nearly one-third report having limited or no capability to support personalization efforts. So what does this mean for multichannel retailers? Gartner analyst Kelsie Welch and I are collaborating on an effort to highlight both the opportunity and the challenge that personalization represents. In this first installment, Kelsie describes some of the foundational issues that are impeding progress:
• Failure to standardize customer data
• Uncoordinated execution of personalization
• No linkages between CRM and merchandising systems
So what to do? While obtaining a single view of the customer is necessary to achieve personalization, portraying “one view of the retailer” in and across all channels is critical as well. In order to leverage personalization to improve customer experiences, retailers must focus on advancing customer segments by combining CRM, merchandising and contextual information as part of an organizational strategy to execute personalization. Success in multichannel retailing boils down to providing a seamless experience for customers. Gartner clients can read the research entitled Delivering on Personalization Requires Advanced Merchandise Segmentation and Consistent Communications for a more detailed analysis.
Read Complimentary Relevant Research
100 Data and Analytics Predictions Through 2021
Over the next few years, data and analytics programs will become even more mission-critical throughout the business and across industries....
View Relevant Webinars
Five Hottest Trends for Analytics in Banking
Analytics have been consistently mentioned as the top priority in the past decade's CIO surveys. We explain the hottest trends across...
Category: merchandising-process retail-analytics retail-trends social-media
Tags: analytics assortment bi brands consumers customer-analytics customer-centricity infocentricity merchandising multichannel omni-channel personalization retail satisfaction social-media trends
Comments or opinions expressed on this blog are those of the individual contributors only, and do not necessarily represent the views of Gartner, Inc. or its management. Readers may copy and redistribute blog postings on other blogs, or otherwise for private, non-commercial or journalistic purposes, with attribution to Gartner. This content may not be used for any other purposes in any other formats or media. The content on this blog is provided on an "as-is" basis. Gartner shall not be liable for any damages whatsoever arising out of the content or use of this blog.