According to a PWC report, 32% of customers reported that they would not return to a brand after a bad experience. According to another McKinsey consumer study, 71% of consumers said they will switch brands and retailers when faced with out of stocks messages.
These two studies outline one key principle within retail. The customer experience is vital for retail business success.
Enterprise cloud data management leader, Informatica, has announced the launch of their Intelligent Data Management Cloud (IDMC) for Retail to help retailers to drive innovation and business value and accelerate their digital transformation.
IDMC is the very first and only cloud-neutral Data Management Cloud for the retail industry. It enables the digital-first experience for its customers while driving omnichannel revenue growth.
IDMC for Retail is the company’s first step toward investing in industry-specific cloud data management platforms that will enable retail to -
- Deliver hyper-personalised customer experiences
- Increase supply chain and inventory management efficiencies and
- Maintain customer trust and loyalty with industry-certified data governance and compliance standards.
As the shift to online shopping continues, allowing personalised shopping experiences will be even more vital for retailers to advance their competitors.
Jitesh Ghai, Chief Product Officer, Informatica noted: “The retail industry is on an accelerated path to digital transformation and Informatica is helping retail organizations stay competitive and drive business value by unlocking the value of unified data.”