Personalized Commerce: Coming to an Internet Near You
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Retailer strategies leveraging data can have a personal effect on buying habits sooner than you know it.
From the perspective of a modern retailer, data is pushing pricing and promotion strategies in two directions — toward both national and personal pricing. Data insights, retailer infrastructure and consumer tools are developing quickly but unevenly. This gives innovative retailers an opportunity to shape the pricing and promotion practices of the future, all the while technologists are keen to develop new tools to disrupt those plans.
Yet, on the front end, consumers expect an omni-channel retail experience. In a recent survey by Empathica, more than half of smart phone users admit to using their mobile devices to do research product prices. When this research happens real-time in stores, it is commonly referred to as “Showrooming.” And as such, these consumers are currently better informed than the retailers in many aspects.
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