SOURCE: Certona

Certona

October 30, 2014 08:34 ET

Digital Disruption, Emerging Technologies to Drive Retail Revenue in 2015

Certona Forecasts 2015 Retail Technology Trends, Heightening Importance of Personalized Experiences for Competitive Differentiation

SAN DIEGO, CA--(Marketwired - Oct 30, 2014) - Innovating the customer experience to adapt to shifting consumer preferences and emerging technology capabilities will be top of mind for leading retail brands in 2015, predicts Certona.

"The retail industry is at a tipping point, as customer experience claims a greater influence over retail conversion than any other business process or output," said Meyar Sheik, CEO at Certona. "However, improving and personalizing the customer experience requires the right mix of new technologies, processes and strategies designed to address the changing marketplace of consumer demands and needs."

According to Gartner research, "in many industries, hyper-competition has eroded traditional product and service advantages, making customer experience the new competitive battlefield. Competitors and alternatives abound and product innovation is subject to accelerating commoditization. Customer experience innovation remains the secret to lasting brand loyalty."

With the increasing power of the consumer and resulting disruption of traditional business operations, Certona predicts the following changes across the retail industry in 2015:

  • E-commerce, M-commerce and in-store commerce will evolve closer into simply commerce. The battles between brick-and-mortar stores and digital channels such as Web and mobile will abate, and instead, each channel will be designed to direct the customer down the most likely path to conversion.
  • Access to APIs will pave the way to more personalized consumer experiences: Merchants will actively pursue open APIs to develop more predictive apps that allow sharing of information and leveraging new functionality in real time to better personalize the user experience.
  • Discounts will be in high demand by customers, threatening retail margins. Retailers will be forced to offer discounts and free shipping to meet consumers' demands during the peak shopping season. However, retailers will also have the opportunity to make up the gap in revenue with personalized offers and recommendations. Ultimately, this will allow brands to deliver in-demand discounts, while recovering margins through recommended add-ons.
  • Customer data will claim its position as a company's DNA. Businesses with data-centric cultures will thrive, while companies that ignore the discipline of data science will lose to competition.
  • Mobile device makers revamp hardware and software strategies to specifically cater to mobile commerce. In response to consumer demand for streamlined commerce, device makers will make strategic decisions based on improving geotargeting, integrating payment technology, user authentication, messaging and inter-app communication.

Certona is the leader in real-time omnichannel personalization for the world's largest brands including Charlotte Russe, GameStop and Steve Madden. To learn more about the company or its clients, visit www.certona.com.

About Certona
Delivering personalized customer experiences for the world's most popular brands, Certona is the leader for true omnichannel personalization. Trusted by more than 500 top ecommerce sites, Certona's cloud-based personalization platform increases engagement and conversions by leveraging one-to-one behavioral profiling, Big Data insights, and predictive analytics to serve up individualized content, promotional offers and product recommendations across all customer touch points. Combined with a flexible decision engine and contextualization, marketers can harness the power of real-time behavioral profiling while maintaining control over their personalization strategies.

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