Customers no longer want a personalized shopping experience, they expect it.

 

As consumers become more aware of what information they give, and regulations continue to make it increasingly hard to collect data third-party data, first-party data has become a necessity.

 

This week we take a look at the controversy around data collection and how stores are finding ways to personalize the shopping experience.

THIS WEEK’S HIGHLIGHTS

  • Walmart’s bet on AR: Walmart become next major retailer to double down on Augmented Reality.
  • First-party data: First-party data begins to emerge from the shadows of third-party data.

  • Q1 Benchmark Report: Click HERE to download the report.

FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

Industry insights so you can convert your foot traffic into more sales.

First-Party data

Customers no longer want a personalized shopping experience, they expect it.

 

For quite a while now, 3rd-party data was the go-to route for collecting data to personalize experience for shoppers. But as companies such as Apple continue to shed light on the mass amounts of data collected from 3rd parties, consumers have become more aware of what information they give, and regulations have made it increasingly hard to collect data.

 

A recent survey found that 69% of consumers are concerned about how personal data is collected within mobile applications. Although there is much controversy around cookies and 3rd-party data, 81% of companies are still dependent on third-party data.

 

Sooner or later, first-party data will be essential to continue personalizing experiences without buying data elsewhere. First-party data is data that you collect from within your customer ecosystem. This can include email conversations, social media followers, app usage, website traffic, etc.,

 

Click HERE to learn more about the growing need to collect first-party data.

Augmented reality’s reaches forefront

Walmart plans to become the next major retailer to fully-adopt Augmented Reality for virtual showrooms.

 

Walmart is set to release two new AR apps for at-home and in-store shoppers. The new “view in your space” feature is set to release in early July on the IOS app and will allow users to see what furniture and appliances look like in their home before purchasing.

 

With the second app, shoppers and employees will be able “to simply point their mobile device camera at our store shelves via the Walmart app to filter our assortment based on your personal preferences,”.

 

We expect Walmart will be the first of many retailers to double down on Augmented Reality as means of personalizing the shopping experience.

 

Click HERE to learn more about Walmarts plans for Augmented Reality.

Retail Snippets

Confident shopping: Consumer confidence falls to 16-month low on worries about inflation and economy

 

Influential employees: How retail workers can be leveraged as effective brand influencers.

 

Holiday sales: The top 10 trends driving retail growth in June.

RANDOM IRRELEVANCE

Jack-and-Coke in a can: Scientists turn Brazilian tree bark into a promising treatment for Leukemia.

 

New digs: U.S. FCC commissioner wants Apple and Google to remove TikTok from their app stores.

 

New craters: whose rocket just hit the moon?