Eagle Eye’s AI Product Can Scale, Personalize Promotions at Retail
When Eagle Eye introduced its data-centric solution powered by AI earlier this year, its intended business targets were grocery and retail verticals.
The offering uses retailers’ existing customer data to generate personalized promotions for consumers at scale. In this way mass promotions can be segmented and curated specifically for individuals, said Cédric Chéreau, Untie Nots Co-Founder (part of the Eagle Eye Group) and one of the architects behind EagleAI. “Specifically, around their ability to personalize and create content and promotions based on a much deeper understanding of each individual consumer.”
This process takes a bit of time and ideally, requires about a year of studying the purchasing behavior of loyalty program customers. Such data is not always available so the initial phase of getting the algorithms on track is generic.
Over time, more data is collected, and brands and their tech partners can make scaled promotions more personalized against the backdrop of customer purchases and how customers engaged with previous promotions.
Individual store, transaction, customer records, and product data inform the algorithms’ effectiveness and can be fed directly from the AIR platform.
For example, Eagle Eye Group works with clients that include, Aldi, Asda, SEG, Loblaw, Pret a Manger, Woolworths, Tesco, and John Lewis.
The software’s machine-learning algorithms factor in product affinity, shopping predictions, promotional responsiveness, budgetary controls, and other data points. All of these are culled and analyzed to create and target the right offers for the right individual.
Let’s say an Aldi customer buys a sack of rice each time he or she visits the store. Or even several times a year. EagleAI will match that customer to any offers for rice during a promotion based on the data of the customer’s purchase history. The platform can also target lookalike customers based on purchase history and potential affinity to the offer.
According to Mordor Intelligence research, AI adoption in retail is expected to surpass 80% by 2027.
Chéreau explained, “With AI, retailers are on the precipice of achieving the retail marketing holy grail, true one-to-one personalization, recognizing the individuality of each shopper and delivering a custom retail experience that reflects their unique needs and desires.”
The American Marketing Association found that 60% of consumers want personalized offers, saying they are one of the most important aspects when making purchases. “Consumers don’t just want personalization anymore; they fully expect it,” Chéreau said.
Paul Tepfenhart, Global Director – FDM Retail & Consumer Solutions at Google Cloud, said, “This is the AI-powered future of retail marketing: a corner store for the world, stocked with shelves and baskets personalized for each shopper. Our intention behind working with companies like Eagle Eye is to democratize data and AI to enable retailers to compete by providing better service to their customers, creating new efficiencies in their operations, and offering more engaging experiences in both physical stores and digital channels.”
Eagle Eye also recently appointed its first Chief AI Officer, Jean-Matthieu Schertzer, signaling the company’s commitment to integrating AI into its solutions and reflecting the rapid adoption of AI across the retail sector. Chéreau was a co-founder and managing director of Untie Nots, a French SaaS company, which Eagle Eye completed the acquisition of in January.
As for the difference between generative AI and predictive AI, Chéreau said the former relies on existing data patterns to create something new, while the latter uses patterns in historical data to project future outcomes. Predictive AI can support strategy formulation and decision-making.
“Retailers already make data-driven decisions, but with predictive AI’s emergence, they can take this to the next level,” he said.
A SaaS technology company, Eagle Eye helps retail, travel, and hospitality brands to build and strengthen loyalty programs in real-time and with personalization. to earn the loyalty of their end customers by powering their real-time, omnichannel and personalized consumer marketing activities.
More than 750 million personalized offers are executed via the Eagle Eye platform every week, and it currently hosts more than 200 million individual loyalty members for businesses worldwide.
