In Singapore, the Department of Statistics revealed an increase in online sales in November, attributed to the higher online sales from major online shopping events. Since customers engage with brands through various offline and online channels, meeting the needs and expectations of a digital consumer has become a mandate for retailers of all sizes.
According to Adobe Analytics, consumers in the U.S have set a record sale of $142.5 billion online, up to 13.1% year-on-year. At the same time however, with BOPIS (buy online, pick-up in-store) seeing 35% YoY growth and an increase of store openings by digital-native brands such as Love, Bonito, it’s clear that the “death” of physical store narrative is significantly exaggerated.
In this era of hyper-connectivity, retailers are starting to realize the importance of leading with Customer Experience Management (CXM) to stay competitive and drive brand loyalty. Consumers want relevant and engaging experiences no matter where they’re shopping and delivering the best brand experience requires the right combination of data, insights, and digital content
At NRF 2020, Adobe announced innovations across Adobe Experience Cloud that will help retailers holistically manage customer experiences across both physical and digital store fronts.
The new capabilities include:
- Adobe Experience Manager available as a cloud-native product: Adobe unveiled Adobe Experience Manager as a Cloud Service, taking their leading experience management product and further accelerates a brands ability to deliver engaging content with its new architecture which ensures customers always have the latest features and can launch new experiences faster. Leveraging Adobe Sensei, Adobe’s AI and machine learning technology it offers mid-size and enterprise companies a new level of global performance and agility for their digital transformation.
- New capabilities in Magento: the Magento 2.3.4 release provides significant enhancements to improve the development process and quality of a brand’s online store. Adobe Stock’s integration with Magento Commerce and Open Source enables merchants to add high-quality media assets to their website without leaving the Magento admin.
- Adobe Analytics helps bridge online shopping and physical stores: with Customer Journey Analytics for retailers, brands can now stitch together disjointed data through Adobe Experience Platform and get a more accurate view of the overall shopper journey. A set of analytics tools, inspired by Photoshop, will empower retailers to be more creative in how they pull out actionable insights. One example is that teams can now observe online behavior that drive people back into the physical store and optimize those paths accordingly.
- Journey Orchestration makes CX for shoppers possible: coordinating individualized experience for customers in real-time and at scale can be a challenge for any retailer. By combining intelligence, precision and a standard data model powered by Adobe Experience Cloud, retailers can leverage Journey Orchestration to make this a reality. Based on a shopper’s interaction with a retailer, a cross-channel shopping journey comprised of series of touchpoints – email, push notification, in-app and more – can be automatically triggered in real-time to the customer.
- Adobe Target introduces highly personalized recommendations for retailers: Adobe Target’s new user based “Recommended for You” algorithm for retailers allows brands to deliver a highly-personalized ecommerce experience based on individual customer behavior. These recommendations go beyond traditional approaches like “last viewed brand” or “people who viewed this, also viewed,” and instead, use the totality of a customer’s behavior to infer their underlying preferences.