|New Retail Consumer Research: The Loyalty Divide|
Oracle Retail Report Highlights Four Consumer Typologies and the Role of Emerging Generations and Technology in Creating More Meaningful Consumer Interactions
Oracle Industry Connect—New York, NY.—Apr 12, 2018—Oracle today announced the findings of a global study titled “Retail 2018: The Loyalty Divide” auditing consumer perceptions and brand realities of loyalty programs and influences. “Retail 2018: The Loyalty Divide” reveals that retailers are out of touch with consumers that demand more personalized experiences and discover brands and affirm purchase decisions through social influencers.
“In our primary research, we have uncovered a disparity between consumer and retailer expectations. Retailers put significant focus on transactional activity metrics and less focus on emerging behavioral expressions of loyalty. We found that retailers are overly confident in their ability to deliver relevant incentives and consumers are demanding more personalized engagement,” said Mike Webster, senior vice president and general manager, Oracle Retail and Hospitality. “Retailers need to take a critical eye at the culture of shoppers that only engage based on convenience and price. Social influence brings an additional dynamic for retailers to navigate the loyalty paradigm as they reward brand advocacy and feed enthusiasts content to affirm their purchases.”
The Oracle study was conducted in February 2018 among 13,000 consumers and 500 operators across retail, hotels and restaurants in five key regions: EMEA (France, Germany, UK and India), North America (USA), Latin America (Brazil and Mexico) and JAPAC (Australia and China).The Great Divide
While 58 percent of retailers believe that consumers are eager to sign up to every loyalty program, 50 percent of consumers are much more selective only signing up to select, relevant programs and 19 percent of consumers rarely joining loyalty programs. Relevancy of loyalty incentives also further highlights the divide between brands and consumers: 58 percent of retailers believe their offers are mostly relevant compared to 32 percent of consumers believing those brand offers are relevant. Retailers continue to underestimate the impact of social influencers with only 45 percent of brands collaborating with influencers while consumers are more likely to trust brands reviewed by YouTubers (48 percent) and brands mentioned on social media (45 percent).Navigating the New Loyalty Paradigm The Future of Loyalty
Despite the great divide, the future of loyalty is promising with younger demographics having a higher propensity to join loyalty programs and note their loyalty is growing. However a majority of retailers have a skewed focus on measuring loyalty with intrinsic values like brand perception and purchase history.
Consumers have clearly indicated the necessity for retailer’s to have a strong social presence and the importance of social influencers in discovering new brands and affirming purchases.
For brands to remain relevant they need to create loyalty programs that recognize consumers as individuals with a level of service that goes beyond the traditional brand experience.
“Retailers are heavily invested. The future of loyalty will be a balancing act between consumers desire for more anonymity, or at least direct control of their data, and an expectation for meaningful personalization that is targeted and timely,” said Webster. “Oracle Retail is helping our customers defend the right to be forgotten and pivot to earn the right to be remembered. We believe the answer is a new approach to segmentation that integrates advanced algorithms and machine learning into the retail business process that govern planning, inventory and pricing.”The Right to Data and the Role of Technology
Both consumers and retailers recognize that technology has a key role in driving connection and convenience in loyalty programs. Retailers, however, need to walk a fine line between enabling deeper connections without being invasive.
Retail 2018: The Loyalty Divide uncovered four typologies of consumer behavior including: The Broadcaster who may flit between brands but shouts about their experiences good or bad; The Enthusiast an engaged retail brand follower who is loyal but not loud; The Lazy Loyal typically unengaged but tend to be loyal to brands because it’s easy to be; and, The Seeker who likes to shop around for the best value and holds little affinity to retail brands.The Broadcaster
The Oracle Cloud offers complete SaaS application suites for ERP, HCM and CX, plus best-in-class database Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) from data centers throughout the Americas, Europe and Asia. For more information about Oracle (NYSE:ORCL), please visit us at oracle.com
About Oracle Retail
Oracle provides retailers with a complete, open, and integrated suite of best-of-breed business applications, cloud services, and hardware that are engineered to work together and empower commerce. Leading fashion, grocery, and specialty retailers use Oracle solutions to anticipate market changes, simplify operations and inspire authentic brand interactions. For more information, visit our website at www.oracle.com/retail
About Oracle Industry Connect
For more information about how Oracle is committed to empowering organizations through best-in-class, industry-specific business solutions, visit oracle.com/industries. To learn more about Oracle Industry Connect 2018, go to oracle.com/oracleindustryconnect.
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.
|Robots - Artist Label - Lisa Solomon|
|We headed up to East Oakland to speak with artist Lisa Solomon at her studio for this label. She talks about her work in Robots as well as her place in the lineage of feminist artist. For the exhibition Robots: Evolution of a Cultural Icon the San Jose Museum of Art created "Video Labels" for around the work of 6 artists. The artists are Clayton Bailey, Eric Joyner, Nemo Gould, Gail Wight, Lisa Solomon and David Pace. For each artist there is a "Curators Label", where Senior Curator JoAnne Northrup speaks about the artist, and an "Artist Label", where the artist talks about their work. Show runs April 12 - October 19, 2008. Robots: Evolution of a Cultural Icon examines the development of robot iconography in fine art over the past 50 years. In 1920, the term robot was coined from a Czech word robota, which means tedious labor. Since then, the image and the idea of a robot have evolved remarkably from an awkward, mechanical creature to a sophisticated android with artificial intelligence and the potential for human-like consciousness. As robotic technology catches up with the wild imagination of science fiction novels, movies, and animation, dreams and fears anticipated in these stories may also become reality. Artists included in the exhibition have responded to the technological innovation with optimism, pessimism, and humor, presenting work that ultimately explores our ambivalent attitudes towards robots.|
|UK and India join forces on driverless cars, virtual reality and artificial intelligence|
|L’intelligence artificielle est un outil de productivité comme les autres|
|La semaine dernière, le président Macron a présenté en grande pompe AI for Humanity, l’initiative du gouvernement pour faire de la France une des nations leaders de l’intelligence artificielle : France wants to become an artificial intelligence hub. Une initiative dont je me réjouis et qui tombe à pic pour accélérer l’adoption des IA dans notre … Lire la suite L’intelligence artificielle est un outil de productivité comme les autres|
|Software Is The Last Obstacle To Fully Autonomous Vehicles, Elon Musk Says|
|All the hardware exists to build fully autonomous vehicles, Tesla Motors CEO Elon Musk said Wednesday, but developers need more precise maps and the artificial intelligence to process them in a computer small enough to fit in a car.|
|Drone Race: Human Versus A.I.|
|Help me build a better online Canada.|
I’m very pleased to have been selected by CIRA’s nomination committee as a candidate for the organization’s upcoming Board election happening September 22 through September 29.
CIRA is best recognized for managing the .ca domain registry, but they lead a number of other programs and initiatives that build towards a safe, connected, and valuable Internet across Canada.
One of the reasons I started Say Yeah was because I recognized that now, more than ever, technology has the power to change the world. This was true in 2008 when Say Yeah was formed, and it is exponentially more so now with the worldwide proliferation of smartphones, technological efforts in healthcare and energy, and the forthcoming explosion of big data and artificial intelligence.
I am thrilled at the opportunity to join the Board of an organization that is directly shaping Canada’s digital identity, support our citizenry, and highlight Canada as a leader in digital the world over.
I would welcome your support during the voting period and ask now that you confirm that you’re not just a .ca owner, but that you register with CIRA as a Member, which provides you with the opportunity to vote.
Once a member, you’ll also have the opportunity to engage in discussions with my fellow Board candidates and other CIRA members in the pre-election forum, which will be open from Sep 15 to Sep 22.
You do need to confirm your membership well in advance, so now is the time. It takes just a couple of minutes. Click this link and look for the Get Started text link to begin the process.
UPDATE, August 31:
With CIRA’s September 22 conference and AGM announcement, we’ve published more details on how you can participate on Say Yeah’s site: Learn more and register for Canadians Connected 2016.
|Digital Ads, YouTube Will Lift Alphabet 20%|
|Google plays catchup in cloud services, helped by artificial intelligence and machine learning.|
|MSS Code Factory 2.9.14172|
|A genetic expert system that achieves the level of artificial intelligence|
|Why Apple Joined Rivals Amazon, Google, Microsoft In AI Partnership|
|Apple is pushing past its famous secrecy for the sake of artificial intelligence.|