To kick off the esteemed NRF 2023: Retail's Big Show on Jan. 15, Walmart's U.S. President and CEO John Furner delivered a keynote speech that stressed the importance of retaining loyal shoppers during an age of incredible consumer choice.
"Loyalty in retail is the absence of something better," Furner told the crowd. "When they find it, they're gone."
Furner's right. Today, consumers have at their fingertips a nearly endless number of products to choose from, across categories, including unique and high-quality private brand items, challenger brands that speak directly to a diverse lifestyle or dietary need, national brands, and everything in between.
Consumers also now have a range of choices in how they want to get their products: online for delivery (be it 15 minutes from GoPuff or an Instacart stock up trip in two hours); online for curbside pickup; social commerce such as buying through an exclusive Instagram livestream; subscription service with auto-renewals; and, of course, traditional in-store shopping.
So, how can retailers cut through the choice to reach shoppers and keep them? We believe it's through a personal touch.
Get personal with your shoppers
AI technology gives retailers the power to deliver 1-to-1 messaging, offers, and recommended products to individual consumers across all touchpoints. This level of personalization is essential when it comes to building a strong relationship between consumer and retailer.
GK AIR drives these personal connections. The platform offers a view into customer behavioral data, including historical transaction data and other integrated data streams to zero-in on deeply personal messaging to customers. Even more, the self-learning algorithms of the platform help relate to a customer's real-time behavior.
GK AIR enables retailers to understand the behavior of each of their shoppers and to help those consumers shop more efficiently. Through personalized engagement, retailers act as an assistant, helping shoppers make decisions during a time of incredible choice.
Give shoppers the help they want
Among all the choices consumers have, they want help finding products that meet their needs. They want a retailer who can partner with them.
Loyalty programs today are in a position to deliver more than just rewards, but a program that assists a consumer's overall shopping journey on a personal level. For example, one customer may want a loyalty program and personalized communication that helps them find the best deals possible during tight financial times. Another customer may want help finding products that meet their personal values and beliefs.
Learn how GK can get help you deliver personalized content
Retailers have a captive audience. Consumers are raising their hand for help and personalized communication and dynamic loyalty programs can be the answer.
GK offers retailers the technology and capabilities to deliver personalized content that can enrich the shopping experience.
Contact us for a demo or to learn more on how personalization can level up loyalty with your consumers.
