On Amazon’s 2nd Prime Day, Retailers Look to Forge Lasting Bonds
For the first time ever, Amazon is holding a second Prime Day event Tuesday and Wednesday.
Street Fight connected with John Nash, chief marketing and strategy officer at Redpoint Global, to understand how retailers are approaching the event and transforming it into a long-term relationship building opportunity.
Why do you think Amazon chose this year to start holding a second Prime Day?
Amazon’s second Prime Day is a recognition that consumers will exercise care in discretionary spending this holiday season, anxious about continued inflation levels and general economic uncertainty. This is another way, albeit episodic, to go after share of wallet.
How are other retailers looking to get in on the action?
We’ve seen, with Target extending its Deal Days offers and Walmart beginning its holiday campaign with curbside returns, that retailers recognize that consumers will be spreading out their holiday budgets. These programs show that customer experience matters. Convenience and seamless physical and digital interactions are just as important, if not more so, than one-size-fits-all discounts.
How can retailers look beyond these events to forge lasting relationships?
Forging lasting relationships requires a deep understanding of the customer that is reflected through a seamless omnichannel customer experience. Customers respond to a real-time, highly personalized experience with deeper loyalty, trust, and a willingness to provide additional customer data knowing that it will be used to enhance their experience even further.
What are the obstacles to creating more personalized experiences?
One major obstacle to meeting customer expectations for personalization is that data is often siloed across various enterprise systems. When channel-specific departments — email teams, direct mail, call center, etc. — work with siloed data, each has a different view of the customer. They might personalize an experience in one channel or for one interaction, but from the customer’s standpoint, that’s not the same as consistent, omnichannel relevance spanning an entire customer journey.