A new study from IDC predicts retailers will spend $5.9 billion this year alone on artificial intelligence (AI) tools like automated customer service and product recommendations. Furthermore, 79 percent of retail and consumer products companies expect to use intelligent automation to learn more about their customers by 2021. Yes, retailers are making big investments in machine learning and automation, and the returns so far are strong — but they're unevenly distributed. The biggest beneficiaries of these trends are the already powerful retail giants like Amazon.com, Walmart or Target. That’s because these powerhouses have one, the largest pools of consumer data to feed their models and, two, the resources to build, test and deploy AI at scale. Click Read More below for additional information.
Take a quick look at a video clip from a session at the recent NEMOA conference in Boston. I was asked to weigh in on my thoughts on print. This was my response…https://www.jschmid.com/blog/what-is-this-cool-new-technology-called-print/
For years, marketers have debated the importance of personalized, people-based marketing as a means of communicating more effectively and efficiently with prospects and customers. But while many marketers were treating personalization as a “nice to have” for their campaigns, it has become an absolute imperative for a growing number of consumers. Infogroup recently surveyed more than 1,500 consumers to gauge their current attitudes and preferences when it comes to personalized advertising. We found not only that personalization has become an expected component of modern brand messaging, but also that its absence can have serious repercussions. Click Read More below for additional information.
STORY, the narrative-driven retail concept shop, will bring to life an editorial approach to retail in 36 Macy’s stores nationwide. Opening with “Color” as its inaugural theme, STORY at Macy’s invites customers across the country to explore and experience color through a rainbow of curated, giftable products and through a range of more than 300 fun color-inspired events. The discovery-led, narrative experience of STORY gives new customers a fresh reason to visit our stores and gives the current Macy’s customer even more reason to come back again and again throughout the year,” said Jeff Gennette, Macy’s, Inc. chairman & chief executive officer. “We’re excited about the potential for STORY and are happy to be launching Color STORY in 36 stores today.” With themes changing every few months, STORY at Macy’s will deliver new concepts through its signature blend of unique collaborations, narrative-driven merchandising and dynamic event programming. Click Read More below for additional detail.