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Consumers usually find they are offered special prices or promotions depending on their relationship with a company for certain purchases, such as renewing a mobile phone contract or insurance. But until now, retailers tend to offer the same price and promotions to all. With the increasing sophistication that multichannel brings, retailers can personalize the promotions and even the pricing that customers are offered. This should result in retailers building more meaningful relationships with customers and developing customer loyalty.
Real-time personalized promotions and pricing sound like science-fiction, but at least one major European retailer will begin trialing a system that can do just this in 2011. The development will allow this retailer to create true one-to-one relationships with its customers by utilizing its existing loyalty card scheme. To learn more download the whitepaper called "Retail Week on Promotion".
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