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E-commerce has gained significant popularity over physical stores in the past years, but, big-chain retail stores are dominant. According to eMarketer, 90 percent of the global retail revenue is still generated by the physical store. To eliminate the difference between the physical store and e-selling, data generated from both the platform must be combined. Retail stores are now equipped with various resources like IoT sensors, cameras, and beacons to gather data on customer behavior and purchases; however, this data must be used with data obtained from other sources like web, mobile, social media, and email to give customers personalized experience and increase sales.
A new retail solution from ARM allows retailers to combine previously isolated digital data with physical in-store connected devices to build brand loyalty and optimize operations. The solution is a combination of Arm Pelion IoT and Arm Treasure Data CDP to assist retailers to fragment data silos and gain insights into the customers' purchase journey. The items are localized to meet the personal demands of individual customers. From the real-time data drawn, data operations can optimize item placement, store layout, and store associates. Marketing campaigns can also be personalized to add value to buyers; for example, a custom made signage in the store would showcase customer’s online interest in the product. More than 250 retailers are using this solution worldwide, and it can easily integrate with retailer’s existing systems and software.
Based on real-time data insights from the solution, associates are given actionable tasks to provide a personalized experience to buyers and help the associates to prioritize their tasks. Neilson CMO report of 2018 stated that only one in four marketers showed high confidence in their ability to measure ROI from their media spend. To run custom made promotions, retailers must combine the use of Pelion IoT and CDP; insights from them would keep the retailers updated about the buyer’s online and in-store behavior. The solution aims to bring back customers repeatedly and study them to give an improved and personalized experience.
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