The Retailer Summer Edition 2022

SUMMER 202 2

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outcomes and emerging trends.” ‘‘

With the help of automation, AI, and machine learning, these combined datasets can be used to accurately predict future

4. Give your customers what theywant In the coming years, automation will pave the path to productivity for a lot of retailers, reducing personnel while introducing new levels of efficiency. Think self-service checkouts, or Amazon’s cashless stores as a slightly more high-concept example. But while these seamless interactions will appeal to some, it’s important to remember that not every customer will be comfortable with using contactless and frictionless experiences. Bear in mind that today’s shoppers comprise several generations, from Baby Boomers to Gen Z, so it’s inevitable that some will still prefer the human touch. Striking this balance successfully and providing a range of options, while still reaping the benefits of automation, will be key to success here. One of the problems retailers often struggle with is making data acces sible to those who need it, when they need it. In fact, 36% of retail and CPG firms say poor data management has cost them strategic business opportunities. In contrast, Snowflake research tells us that the 6% of organisations that are outperforming their peers in the data economy provide unimpeded access to their data, no matter where data users reside. Having a centralised cloud data platform that provides easy and instant access is one of the things that will help retailers provide the hyper per sonalised products and services that McKinsey tells us 71% of customers expect. And it’s important not to underestimate the importance of this. Especially when as many as 76% get frustrated when personalised interactions don’t occur. 5. Bring everything together in one place

Paul Winsor

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