Read the full article with Rithum VP, Industry Strategy Chris Koeppel here.
In today’s Now Economy, customers are gravitating increasingly toward the “I see it, I want it, I’ve got it” retail model — while at the same time they’re more intent than ever on making purchases that support their personal values. Retailers are scrambling to adapt to this exponentially expanded consumer dial tone. While companies are certainly collecting more and more data, data alone can’t drive this level of hyper-personalization — especially not in a traditional wholesale retail model. It’s simply not practical to stock millions of items in a warehouse, curate them at the individual product level, and put them in front of the right shoppers while still turning a profit.