In today’s digital world, customers are more informed, demanding personalised treatment. They do not like being treated as another bean in the bag. They want to be treated as individuals, having their needs recognised and catered for.
Retailers realised this a while ago. They started developing the infrastructure and mechanisms to enable cost-and-time-effective personalised interactions. With this, they can offer a more personalised service to their customers by making useful product recommendations to each individual user.
In other words, they started investing in the collection of data, as well as the development and application of advanced data analytics. The two undisputable world champions in this area are Amazon and Netflix.
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