Q&A:
A Look Ahead Nicole Jass, Senior Vice President, Integrated Payments, Fraud, and Data Products at Worldpay, discusses what she sees on the horizon for data’s influence on retail.
Worldpay: What do you find most exciting about connecting data trends to customer engagement? Nicole Jass: It’s a thrilling time for retail. There is a real sense of shared optimism about how intelligent use of data improves both consumer experiences and retailer bottom lines. Connected data is transforming and elevating the very nature of engagement across the retail landscape. Retailers are reducing friction in payments, realizing the immense promise of loyalty programs, and becoming more responsive to consumer needs. I love the retailers who are connecting all of the dots for their shoppers. I frequent many retailers that are doing a great 20
job of using data to create unified experiences across channels. These companies tie everything together from curated emails that understand each consumer’s shopping history, to being able to checkout right there while you’re buying in-store, to fantastic app experiences. The brands that are getting it right are the ones that surround the customer and get them the apps, the in-store experience and the marketing campaigns that resonate. They’re all tied together—and that’s the magic. Obviously it’s compelling for the retailer because it’s going to be able to drive more loyalty, but I get excited about it as a shopper to have those more meaningful experiences.
W: How How have have loyalty loyalty programs programs W: evolved as as competition competition increases increases and and evolved using data data analysis analysis becomes becomes more more using prevalent? prevalent? J: At At best, best, we’re we’re making making ourselves ourselves J: invisible. Think Think about about times times where where invisible. you pay pay for for transportation transportation without without you exchanging money money or or even even swiping swiping aa exchanging card. You You can can also also think think of of amusement amusement card. parks that that incorporate incorporate an an entire entire expeexpeparks rience into into aa bracelet bracelet or or an an app. app. The The rience fuel is is data. data. fuel Data drives drives the the expectation expectation of of the the Data consumer that that it’s it’s all all seamless. seamless. II can can consumer come and and go go as as II need, need, the the money money is is come transacting without without me me thinking thinking about about transacting it and and you you should should be be rewarding rewarding me me for for it spending that that money. money. The The friction friction of of spending having to to search search through through cards cards goes goes having away. The The connective connective tissue tissue is is collectcollectaway. ing and and connecting connecting the the data. data. ing W: What’s What’s next next on on the the horizon horizon W: for retailers retailers seeking seeking insight insight from from for consumer data? data? consumer J: II think think of of the the ways ways retailers retailers are are J: using consumer consumer data data in in three three buckets: buckets: using better and and more more thoughtful thoughtful adveradverbetter tising, intelligent intelligent measurement measurement and and tising, attribution, and and fifinally, nally, strategy. strategy. attribution, Advertisers have have made made great great strides strides Advertisers in using using omnichannel omnichannel shopping shopping data data to to in better connect connect with with their their audiences— audiences— better that story story is is well well understood. understood. MarketMarketthat ers have have been been using using data data to to demondemoners strate value value through through more more granular granular strate measurement tools. tools. That That attribution attribution measurement piece still still needs needs work work but but is is progressprogresspiece ing nicely. nicely. The The future future horizon horizon is is leverlevering aging data data to to inform inform strategy—how strategy—how to to aging take aa fresh fresh look look at at footprint footprint stratestratetake gy, or or omnichannel omnichannel experiences, experiences, for for gy, example. Used Used right, right, data data can can inform inform example. optimized confi configurations gurations of of stores stores optimized in aa given given region region and and can can help help decide decide in what kind kind of of merchandise merchandise to to put put in in what SEPTEMBER/OCTOBER 2018 CHAINSTOREAGE.COM