The ‘connected retail’ advantage: Data, personalisation, and the future of marketing

The retail landscape is undergoing a profound transformation, shaped by evolving consumer behaviours, rapid technological advancements, and the rise of digital channels. To thrive in this dynamic environment, brands must embrace innovative strategies that place the customer at the centre of their operations.

This was the central theme at a recent event on “Mastering the customer journey” held by MARKETING-INTERACTIVE in partnership with adm Group. The event brought together industry leaders and marketing experts to explore the future of retail marketing, with a particular focus on the power of connected retail.

Connected retail: Bridging the gap between online and offline

Connected retail, the seamless integration of digital and physical touch-points throughout the customer journey, emerged as a key topic of discussion. Speakers highlighted its ability to create immersive experiences, personalise interactions, and gather valuable insights, ultimately driving customer engagement and business growth.

Dheeraj Raina, senior vice-president and head of integrated marketing and communications for Southeast Asia at Mastercard, shared how connected retail has become a strategic priority for the company.

“Connected retail is a zero moment of truth,” he explained, emphasising its ability to influence consumer decisions at the point of sale. He cited Mastercard’s success in leveraging connected retail to drive cross-border transactions and enhance customer engagement, particularly in the travel, dining, and shopping sectors.

Raina elaborated on Mastercard’s approach. “At Mastercard, we have always been connecting people to their passions, and each other,” he said.

“In Southeast Asia, travel, dining and shopping are easily the top three passion points. It therefore makes sense for us to focus on these three sectors in our connected retail strategy, so that we can engage with consumers and cardholders in a more intimate and personalised way in what matters most to them, thereby building brand loyalty,” he added, highlighting the strategic importance of connected retail for Mastercard in achieving its business objectives.

Personalisation: The key to customer centricity

The importance of personalisation in today's fragmented retail landscape was another key takeaway. A recent study by McKinsey found that personalisation can deliver five to eight times the ROI on marketing spend and lift sales by 10% or more. This underscores the need for brands to tailor their messages and experiences to individual customer preferences.

Shane Ang, regional head of intelligence and performance (Asia Pacific) at Moët Hennessy, spoke about the luxury brand’s approach to balancing heritage with the need for personalised experiences.

“We don’t sell a product, we sell an experience,” he stated, highlighting how Moët Hennessy leverages digital storytelling and immersive experiences to connect with the next generation of luxury consumers. Ang explained how the brand uses digital platforms to offer personalised engravings and virtual reality experiences, enhancing the customer journey and reinforcing brand desirability.

Yik Hun Lee, vice president of partnerships at minden.ai, emphasised the role of loyalty programmes in driving hyper-personalisation. He explained how minden.ai’s platform helps brands understand customer behaviour and delivers personalised offers and rewards, contributing to increased sales and customer lifetime value.

“We have the depth of actual consumer purchases which can shed tremendous insights for brands interested to help them augment their own collected insights. In other words, we can help unlock the next chapter of building trial or customer retention in Singapore,” Lee said, emphasising the depth of customer insights that can be gathered through loyalty programmes.

Data-driven insights: Fuelling customer-centric strategies

The event also underscored the importance of data in understanding customer behaviour and optimising the customer journey. According to a report by Salesforce, high-performing marketing teams are 3.5 times more likely than underperformers to extensively use data to drive marketing decisions.

Nikhil Rao, chief marketing officer at Mars, shared how the company leverages data to capture impulse moments and personalise offers in both online and offline channels. He highlighted the importance of using data to inform product development, marketing campaigns, and strategic partnerships.

Rao also discussed how Mars utilises AI-powered tools to analyse data from various sources and gain actionable insights, enabling the company to make informed decisions and optimise its marketing efforts.

Richard Murray, head of growth for connected retail, APAC, at adm Group, emphasised the need for an integrated approach to data and technology. He showcased how adm Group’s connected retail solutions enable brands to gather and analyse data from various touch-points, providing insights that drive personalised content and targeted offers.

Murray also highlighted the importance of creating integrated campaigns that connect the ads on-screen to the space on the shop floor, ensuring a seamless customer experience.

The future of retail marketing: Customer-centric and connected

The “Mastering the customer journey” event provided valuable insights into the future of retail marketing. It is clear that brands must embrace connected retail, personalisation, and data-driven strategies to create customer-centric experiences that drive engagement and business growth.

By leveraging the power of these approaches, brands can navigate the evolving retail landscape and build lasting relationships with their customers.

As the lines between online and offline continue to blur, connected retail will play an increasingly critical role in shaping the future of retail marketing. By embracing innovation, harnessing the power of data, and placing the customer at the centre of their strategies, brands can unlock new opportunities for growth and success in the years to come.