GK Software Named to the Leaders Category for Worldwide Retail Loyalty Platform Software Providers by IDC MarketScape
GK Software has been named a Leader in the IDC MarketScape for Worldwide Retail Loyalty Platform Software Providers 2024 Vendor Assessment.
July 11, 2024
IDC MarketScape Report 2024
According to the report, "The key strength of GK's solution is derived from its 25 years of experience in reinforcement learning and predictive analytics, which is now applied in fine-tuning and optimizing retail engagement strategies. Moreover, the vendor has an ambitious road map for the coming years, which includes enhancing AI personalization by adding unknown customers to the already supported known customers and introducing analytics capabilities such as A/B testing to experiment with the impact of different engagement strategies on customer lifetime value and the bottom line." GK Engage is a cloud-native consumer engagement component, designed to help retailers interact with customers across various channels. It uses a microservice architecture, making it flexible and scalable. Key features include:
- AI-powered tools from GK Engage enable you to select your desired level of automation, from insights that help you understand consumer behavior and preferences allowing you to manually select strategies, rewards and create segments to fully automated, real-time creation of relevant interactions, messages, recommendations, offers, and content at the right time and touchpoint for each individualized consumer experience.
- Management and visualization of consumer profile and status.
- Creation of loyalty strategies and programs with personalized rewards, offers, messages and more for any touchpoint and channel
- Rewards redemption management for points, coupons, offers and more in the loyalty programs.
- Detailed analytics and reporting to improve the effectiveness of loyalty strategies.
The IDC MarketScape report notes, "the integration of GK Engage with mobile apps via APIs and in-store touchpoints such as self-scanning, smart cart, and POS enables retailers to provide their customers with real-time access to their loyalty account status, points, and spending insights. It also enables them to easily access personalized offers, rewards, coupons, and behavioral points to incentivize specific behaviors and actions in real time."
Source: "IDC MarketScape: Worldwide Retail Loyalty Software Providers 2024 Vendor Assessment", document number #US51234024e", June 2024, IDC # #US51234024e
About the graphic - IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The Capabilities score measures vendor product, go-to-market and business execution in the short-term. The Strategy score measures alignment of vendor strategies with customer requirements in a 3-5-year timeframe. Vendor market share is represented by the size of the icons.
