Redefining Retail

15Be Personal

Think about the sense of satisfaction and gratification that you experience when you enter your favourite café and you order “the usual.” Or when the server anticipates your needs and serves your favourite cappuccino without your saying anything. The benefits of feeling a personal connection remain deeply ingrained in the essence of commerce—from ancient marketplaces where merchants called clients by name and tailored their offerings, to modern‐day CRM tools that utilize advanced data analytics to deliver personalized experiences. At the core of the current tech‐led optichannel personalization there is a very basic human need of being recognized as individuals.

The element of personalization in commerce acknowledges that each person has their own distinct characteristics, desires, and buying behaviours. By understanding and addressing these individual differences, businesses can create more meaningful and engaging interactions with customers. This involves tailoring offerings, recommendations, and communication based on a deep understanding of individual preferences, previous interactions, and demographics. In the contemporary business landscape, personalization has been further empowered by advancements in technology, data analytics, and customer insights. With access to vast amounts of data, businesses can now leverage sophisticated algorithms and machine learning to better understand customers and provide highly relevant, timely, and personalized experiences. ...