We sat down with OmniShopper speaker Lakshmi Venkataramani who is also Senior Director, Customer Insights and Analytics at Walmart eCommerce, to discuss how retail is being disrupted.
How has retail been disrupted?
Venkataramani: What, when, where and why customers buy hastransformed. The technology revolution and the generational mindset shift has contributed to this. Key players in the industry have facilitated this revolutionand will continue to push boundaries to serve the customers’ evolving expectations
How has omni-channel impacted retail positively?
Venkataramani: We now have the ability to know and reach customers beyond only when they are shopping in the stores. If we can talk to and serve them anywhere, anytime in a relevant and meaningful way and make their lives easy, we can create value for them and for us, retailers.
How is this new era of shopping everywhere impacting shopper insights?
Venkataramani: With hundreds of features (attributes) pouring in from several data sources real time about every customer, combined with advanced analytics/research techniques, we can create persuasive stories to engage with the customers in the here and now. Connecting the dots has never been easier.
Why is it important to link digital and physical shopper marketing?
Venkataramani: To tell them a complete cohesive story! To understand the role of digital and physical across categories, to engage them through the most relevant marketing vehicle for the occasion and to demonstrate that we “know” who they are in totality and talk to them accordingly.
Where do you see retail moving in the next 5 years?
Venkataramani: Great merchants with quality assortment and successful technological partnerships will thrive. Formats, customer service, payments and checkout will all be redefined. Price parity for commodity goods will be the norm while speed and ability to consistently deliver on customer promise in a personalized way will be the differentiator.
Don’t miss Venkataramani’s keynote panel session, “Shaping the Future of Retail with Science, Technology, and Consumers” on June 20th at 10:00 AM and “Omnichannel Customer Analysis” on June 20th at 2:20 PM in Minneapolis, MN.
Use code OMNI17BL for $100 off the current rate. Buy tickets: https://goo.gl/HiJMGp