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Retail & Ecommerce Event: Panel on New Data Revolution in E-Commerce

In June, we organized a Game Changers event in Paris dedicated to retail and ecommerce. One panel focused on new data revolution in e-commerce.

Noam Javits is CEO of Personali, a Tel-Aviv based company, which makes possible in digital what is heavily used in physical retail: how to get people emotional on the web. The idea is to help customers take actions with incentives. Personali helps grow conversion rates, revenue per visitor, profit per sale, and loyalty.

Antoine Durieux is CEO of Alkemics, a Paris-based startup, which works in France with big retailers and 500 manufacturers, and in the USA with Walmart. In the retail ecosystem, there is an asymmetry of information between manufacturers who have a lot of information on the products and retailers who have a lot of information on the consumers. Alkemics enables retailers and manufacturers to share data on products and consumers in order to increase efficiency, and provide more services to the consumer.

Delphine Mathez is CEO of Stokomani, a French physical retail company. Stokomani has more than 60 stores offering off-price retailing. At Stokomani they work on the shopping experience and think that there is a lot of pleasure on physical shopping. In Stokomani stores, you can browse through many products and there is no screen installed in the premises. The aim is to have customers fully engaged in their shopping experience without any disturbance from screens or smartphones.

David Bessis is CEO of Tiny Clues, which allows marketers to find the relevant audience to promote a product with the help of artificial intelligence. Tiny Clues’ clients are 50% of the top 20 e-commerce websites in France, such as CDiscount, Vente privée and Fnac.

The panel explored what the new real-time data changes are between retail and ecommerce, what can be done with data and how data changes the way to do business.
Tiny Clues processes huge amounts of data: billions of page views per year, millions of purchases per month and to David Bessis, this cannot be done by humans but with the help of artificial intelligence.

At Personali they view machine differently because they try to make machines interact with humans and to launch emotional experiences. For example, when people can negotiate prices, there is an ownership effect on the discount. The question remains: what is the right incentive: discount or free membership? This is when data is used: different incentives are given according to different user groups and their various behaviors. According to Noam Javits, it is important to engage with customers like in physical stores.

Antoine Durieux explained the nightmare of every retailer: the different codes and references for the same products created for the various temporary offers. Alkemics solves the problems of pricing, assortments, prediction for retailers and renders it transparent to the customer.
In contrast with online commerce, Stokomani wants to bring something to customers and offer them a better shopping experience. Once they are in the store, the battle is won: the conversion rate reaches nearly 100%; but the battle is to get them in the store and also to have the right product at the right place and at the right time and at the right price. To do that, Stokomani uses product data more than customer data.

In the end, what is common to the 4 companies is that they all use data, even if in different ways, and they have to build genuine data-driven strategies to address their audience efficiently.

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