A case study on the business impact of personalized shopping experience on retail stores

This research will determine what factors are the most significant when it comes to the personalized shopping experience from the perspective of both customers and retailers, and shed light on opportunities and options for North American retailers to innovate within the retail space. We will conduct surveys with both retailers and customers to determine the level of value that each cohort places on the various factors and data points that can improve the personalized shopping experience. Three pilot-studies will be conducted in retailers stores in which new data to provide personalized shopping experiences will be provided to retailers through the addition of a sensor that tracks customer behaviours, and through the collection of POS data to show previous purchasing patterns. We will survey these retailers at the end of the 45-day pilot-studies to uncover how retailers might use this additional data to provide a personalized shopping experience, what factors or data points they found most helpful, and what areas of opportunity they believe exist in the retail landscape in North America. The results of this study will help inform future innovations from RetailDeep in its mission to provide customer-based data to retailers that will support the personalized shopping experience.

Faculty Supervisor:

Gordon Fullerton

Student:

Zhenni Ge

Partner:

RetailDeep.com

Discipline:

Business

Sector:

Finance, insurance and business

University:

Saint Mary's University