Jenny Wolski, senior vice president of omnichannel experience at Petco, on incorporating personalization in its loyalty program:
“We are lucky to have over 25 million active customers in our database, and a majority of those active customers are in our membership program,” Wolski told the Path to Purchase Institute’s Jessie Dowd. “What that allows us to do is gather a ton of data about what they feed their pet, their pet's health and what they're doing with their pet overall. So we leverage that data to personalize the experience for them.
“What that actually means as a pet parent is you receive health and wellness reports that tell you if you're low on food or if you need to buy dental chews … or if you're low on litter, or when it's time to book your grooming appointment or your vet appointment. And so we personalize that experience, not just for the human, but actually for their pets.”
Bill Ready, Pinterest CEO, on the next frontier in e-commerce:
“I’ve engaged across sort of every stage of the shopping journey throughout my career,” Ready said during a keynote discussion on returning joy to shopping. “Interestingly, one of the things that stands out to me is, I think the first 20-plus years of e-commerce was really about solving for seamless buying. But when I think about the next 20 years of e-commerce, it’s much more about solving for the joyful part of shopping — the inspiration, the discovery. What’s the digital bazaar?”
Sam Knights, CEO of SMG (which owns Threefold, Capture and Lobster), on the biggest opportunity in retail media in 2023:
“There are so many opportunities out there,” Knights told Retail Leader’s Connor Perrett. “I think the thing that we've been talking about the most in the last couple of days is the presence of the store. So we've seen this huge expansion of online digital space, the opportunity to target people with first-party data.
“But I think the next step is then linking that into the store, because that still represents 80% to 85% of your sales. And so if you can influence that on top of the digital targeting, then you start opening up a really interesting world of incrementality.”
Elizabeth Lafontaine, chief retail analyst for Retail Leader Pro, on the top takeaways for retailers and brands at Shoptalk 2023:
“Despite the fact that we've seen exponential [e-commerce] growth over the past few years — stores are not dead,” Lafontaine said. “We've seen so much on the show floor about innovation in-store. A lot of solution providers are coming to create great in-store experiences for retailers. And retailers are investing heavily in their stores to make them more agile, to make the path to purchase for consumers better and to really embrace consumers and the fact that they want to come back into stores.
“I think the other thing that we've seen is that brands are really focusing on building the brands themselves. They want to be authentic for consumers. They want to make sure that they are building communities with their consumers. And I think that we're seeing retail and entertainment, and content and community, all kind of centered within the retail ecosystem themselves. Retailers can't just buy and sell goods to people anymore. They need to embrace the 360-degree view of the consumer.”