It was announced today that Morrisons has decided to partner with analytics firm IRI to improve customer loyalty.
Mindtree’s Anil Gandharve, Senior Vice President & Head of Retail, CPG & Manufacturing made the following comment :
“Today’s announcement that Morrisons has decided to partner with analytics firm IRI to better understand its customers highlights the growing importance of customer insights, predictive analytics and personalised marketing for digitally omniscient consumers.
Brands are faced with fierce competition, battling stagnant revenues and market share which, when coupled with margin pressure, results in a need to innovate by anticipating the digital future and imagining new business models and growth enablers in order to stay ahead of the competition.
Customer loyalty must rely on insight driven hyper personalisation as the Gen Z buying wave enters a market with exponential consumer choice.”