Offering personalised discounts through data and AI can help retailers effectively target holiday shoppers.
This article states, given the impacts of COVID-19 on consumers’ shopping behaviour, retailers must rethink their holiday marketing strategies. While providing discounts seems enticing, retailers must leverage data to offer strategic discounts to consumers, especially during the holiday season.
Building a data infrastructure can help brands gain actionable insights on their consumers' behaviour and purchase intent. The author contends retailers must enhance the connectivity between their discounting strategies, merchandising and marketing systems.
Fixing internal data systems can help brands effectively access the right data and boost sales with better merchandising and marketing strategies. Using new datasets and behavioural signals can further help retailers better understand consumers and target shoppers who are more likely to pay full price.
[5 minute read]