The acceleration into online and omnichannel retailing has continued. With the rise of digital connection to customers and seamless operations to support evolving business models, the requirement to know your customer intimately has never been greater.
Retailers and consumer brands need to know who their customers are and why and how they want to interact with the brand to enable the trusted retail experiences required to drive growth into 2022 and beyond.
Despite the uncertainty and challenges that lie ahead, leading retailers are not wasting the opportunity to rethink strategies, embrace changes and build competitive advantage. One category that has seen tremendous growth is the online beauty business.
We believe that retailers and consumer brands will be embracing 2022 as the year of making it personal. Our webinar with Kate shines a light on the benefits of making personalisation a part of your brand’s DNA.
KPMG’s retail and consumer leaders Lisa Bora and James Stewart hosted our webinar with special guest, Kate Morris. Kate is the co-founder of Adore Beauty. From its inception in Kate’s garage in 1999, Adore Beauty is now Australia’s leading pureplay beauty online retailer.
Key takeaways from the session
- As we cycle through two COVID-19 seasons, many consumers have permanently shifted online saying online is more convenient than physical retail; has a greater range; and better price points. Critically there has been a material reduction in the number of consumers who now say they are being forced to shop online because of COVID-19 restrictions. These consumers now see online as their preferred retail channel to market.
- What personalisation means to consumers is for you to show that you know them and that you understand and care about them. Best practice personalisation strategies leverage data and insights to create and deliver upon an intimate customer experience across the value levers that drive engagement and retention.
- While a strong media and content strategy builds customer trust and engagement, personalisation means helping customers quickly obtain the products and services they need and that they never knew they needed with the experience authentic to the promise end to end.
- While 88 percent of organisations operate an “earn & burn” loyalty program, 40 percent collect customer data but don’t analyse it and only 6 percent actively leverage their loyalty program to drive sales objectives.
- Retailers looking to enhance their personalisation strategy need to ask themselves; what problem am I seeking to solve for my customers? Sometimes the answer is as simple as asking your customer.
Watch the webinar
Are you ready to get personal?
Customers are now demanding highly personalised engagement with brands to deliver on meaningful experiences. Knowing and understanding your customers starts with personalised communications, but also extends into personalised product and service experience delivery. To deliver on this, organisations need to ensure four core elements are factored into their approach.