Retail Challenges?

Author: Clarip’s Director of Sales

It is remarkable to consider how much the internet has had an effect on our everyday lives.  In short, since the early 1990’s, the internet has served to not only entertain us with endless videos (think animal pictures) but also add a tremendous “return on investment” to the way in which we work, live and engage in commerce.  That reality is no more stark than in the world of B2C retail and the traditional “bricks and mortar” shops that we all know and equate with a “simpler time in our lives.”

Most economic and business analysis of the retail sector has focused upon the increasing movement of retailers into eCommerce – and with good reason.  Amazon.com was started in 1994 – just 23 years ago – and its founder, Jeff Bezos is now officially the world’s wealthiest person, having surpassed the likes of Bill Gates and Warren Buffett.  According to one recent estimate, “half of all purchases made on the internet AT ANY GIVEN MOMENT are done through Amazon.com”

The challenge of “digital vs. store” will likely remain topical for some time, but I would like to add another element that is oftentimes overlooked and “under discussed” – IoT and the connectivity of devices.  According to the online website, Entrepreneur.com, “Most often, consumers don’t stick to a single device when buying from you. In fact, they switch between devices, from the web to mobile to apps, before turning into paying customers. Device-driven analytics not only provide e-commerce ventures with a deeper insight into assessing their audiences better, but also assist in leveraging this information to predict subsequent purchases and personalize the consumer shopping experience.”

As the Director of Sales with Clarip, I cannot stress how important this reality is, not only for consumers but for retailers as well.  In addition, as a former professor, I can also attest to this reality with my students – one device simply does not suffice.  Millenials are constantly connected, whether by phone, tablet or computer.  The challenge for retailers is capturing “adequate data and intelligence” to leverage best practices and turn those “tire kickers” into customers.  Enter Clarip!

Clarip is not only a privacy and consent management platform, but two of our strongest value propositions are in the “intelligence gathering” and “actionable data” that we can offer to retailers.  Our patent-pending technology can help retailers to better tailor their pitch to consumers, by first, respecting customer consent.  The value of knowing, for instance, who has agreed to receive text messages when a sale is afoot or to get an email notifying them when a product that they are looking to buy is available, is immeasurable.  In addition, our analytics provide a framework from which to advertise and market.

If you are a CMO in a retail vertical, visit us at www.clarip.com.  We can give you an in-depth introduction to the value of knowing “who your customers are, what they want, and on what device.”  As my father used to say, “there is nothing more valuable than information,” and with Clarip, you can add value through information.

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Are you ready for the new CA privacy law? Start preparing compliance efforts with Clarip for the California Consumer Privacy Act. Enforcement starts January 1, 2020 so better start planning funding in your 2019 budget now.