“Relevance in Store provides retailers with a plan and a tool kit for creating the best possible experience for customers in the store,” Nicklas Larsson, EMEA Managing Director for RichRelevance told Evigo. “We see Relevance in Store as benefiting retailers by building a bridge between e-commerce and in-store commerce. It helps them to build a well-rounded and integrated strategy that delivers high sales across the board.”
Relevance in Store is a data-driven retail experience introduced by RichRelevance and it is taking omni-channel to a whole new level by changing the face of in-store shopping. The company is already a global leader in omnichannel personalization and its new strategic initiative will help improve stores’ product discovery and drive its sales.
RichRelevance, which specializes in “omnichannel personalization” has launched Relevance in Store, which it describes as “the next era of data-driven retail”. It’s a strategic initiative that gives retailers a blueprint and tool kit for optimising the in-store experience to drive product discovery, consideration and sales.
While e-commerce is booming, omni-channel retailing still only accounts for 16% of sales outside the grocery sector. But that is all set to change as mobile technology is put to use to offer a personalised, omni-channel experience to retailers in stores – by merging online and offline data in real time.
New strategic initiative provides world-class technology, consulting services and a full-scale test lab to empower retailers to quickly & easily build custom applications that support and inspire shoppers in the store
San Francisco, CA – May 20, 2014 –– RichRelevance®, the global leader in omnichannel personalization, today announced Relevance in Store, the next era of data-driven retail. Relevance in Store is a new strategic initiative that gives retailers a blueprint and tool kit for optimizing the in-store experience to drive product discovery, consideration and sales.
Now, with Relevance in the Store, retailers can immediately access RichRelevance’s powerful DataMesh platform and team of retail data experts to seamlessly merge online and offline data sources and rapidly build custom applications that effectively engage shoppers at every store touchpoint — front entrance, aisle, kiosk, associate, dressing room, and checkout — exposing shoppers to the right inventory and enhancing product discovery.
Relevance in Store also debuts the RichRelevance Omnichannel Lab, a fully-functional retail test environment equipped with iBeacons, point of sale systems and digital surfaces, which when combined with mobile SDK and omnichannel data, enable RichRelevance clients and partners to create in-store personalized experiences for consumers.
“Online commerce is rapidly growing, but still only accounts for 6% of sales in the U.S.,” said David Selinger, CEO of RichRelevance. “The battle for the future of retail will be won or lost in the store. Relevance in Store optimizes personalization for all customer touchpoints in the physical retail environment and creates new opportunities for retailers to engage shoppers, empower associates and build customer lifetime value.”
“RichRelevance has the best technology, solutions and team of experts to arm retailers with what they need to win against Amazon,” said Sandhya Venkatachalam, Founding Partner at Centerview Capital. “They truly understand the challenges retailers face and are already #1 in data-driven eCommerce personalization solutions for the biggest brands in the world. Relevance in Store changes the game entirely by creating a physical shopping experience that is as adaptive and personalized as online – with tremendous gains for retailers who participate.”
Relevance in Store: Use Cases
For the first time ever, retailers can use a single view of the customer to deliver the most relevant offers, promotions, products and notifications in real time – as the shopper moves through the store. Each experience is fine-tuned in real time based on changing individual and group behavior, as well as the retailer’s own dynamic business goals, through the combined power of RichRelevance’s cloud-based platform, which is built on a service-oriented architecture (SOA), and RichRelevance’s personalization strategies, best practices and experts.
Retail use cases include:
- Store Entrance: A shopper is digitally greeted with relevant offers, promotions and notifications upon entering the store – the same level of personal attention expected of a top-notch sales associate.
- Aisle: A shoppers’ own behavior combines with online and offline data to expose the most relevant inventory in real time, creating an “endless aisle” of product and offers.
- Kiosk: A price check kiosk presents appropriate cross-sells and additional details on items in a shopper’s cart.
- Associate: Associates present the relevant upsell and cross-sell opportunities, becoming category experts with minimal training. For other retail brands, associates provide a new level of personal attention and service, ready to appear when a shopper lingers at a rack or unlocking dressing rooms at just the right time.
- Checkout: Store receipts and follow-up emails build customer lifetime value through personalized messages that provide a discount or inspire participation in a loyalty program.
For more information on Relevance in Store and to download the Relevance in Store infographic, visit https://richrelevance.com/relevance-in-store/.
UK stores must adapt to the rise and rise of digital shopping, or face becoming obsolete. That’s the conclusion that British Land, owner of 29m sq ft of retail space, has come to in recent months. Today we bring you the full story including how it plans, as a major investor in retail property, to counter that threat of obsolescence.
Timely, then, that we also report on TUI Travel’s plans for its Thomson holiday company as it looks to transform its own high street presence for that digital future. Elsewhere in today’s Internet Retailing newsletter, we report on InPost’s plans to roll out a 2,000-strong locker bank network around the UK this year, on RichRelevance’s acquisition of Avail, and on Barclaycard’s use of personalisation to deliver ‘bespoke’ offers to UK shoppers. We also report on judgment day in the Internet Retailing Awards.
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