COLUMBUS, Ohio, Oct. 29, 2019 /PRNewswire/ -- Alliance Data's
card services business, a premier provider of branded private
label, co-brand, and commercial card programs, in conjunction with
its Analytics and Insights Institute, released its fifth annual
"Now, New, Next" report, which details 10 trends for retailers to
watch in 2020 and beyond. Among the report's key findings are the
growing number of mobile apps serving as brand hubs,
direct-to-consumer brands leveraging a brick-and-mortar presence in
order to achieve scale, and brands crafting an audio identity by
using sound-based tactics to reach customers in new
ways.
"As we enter a new decade, the stakes are higher than ever for
brands to remain competitive and relevant," said Mary O'Donnell, Chief Marketing Officer for
Alliance Data's card services business. "Consumers expect seamless
experiences across all channels, and brands are recognizing the
need to cultivate stronger, more personalized relationships with
customers."
The "Now, New, Next" report format examines trends that have
achieved widespread use (Now); new strategies that bold brands have
implemented as others closely observe and evaluate (New); and
concepts being tested by a select few trendsetters that have the
potential to influence the industry over the next few years
(Next).
The following trends are among those highlighted in the 2020
report:
- NOW: Mobile Apps as the New Brand Hub. At a growing
rate, consumers are shifting shopping and spending activities to
their mobile devices. In response, brands are strategically
building deeper bonds with customers by creating content-rich,
"one-stop" mobile apps.
-
- Yet, many brands are lagging behind as only 41% of surveyed
marketers said their brand offers a mobile app and uses it to
communicate with customers.
- Of the 18 retailer app features tested by Alliance Data, 16
were rated as "somewhat to very important," indicating consumers'
high expectation for app functionality.
- NEW: Disrupters Scaling for Growth. To achieve their
growth goals, many direct-to-consumer brands that have disrupted
traditional retail are now finding ways to "disrupt themselves."
They're taking a page out of traditional retail's playbook by
creating brick-and-mortar presences in order to test, learn and
gain insights through in-person customer engagement. At the same
time, some legacy retailers are launching their own
direct-to-consumer brands.
-
- More than one-third of surveyed consumers (38%) would shop a
brand more frequently if the brand had a physical store, despite
the growing popularity of online-only retailers.
- NEXT: Crafting an Audio Identity. Trendsetters are
exploring and testing innovations in audio engagement to reach
customers in new ways, including experimentation in sonic logos,
branded podcasts, audio augmented reality, and innovation in audio
advertising and content — all with the goal of establishing what
their brand "sounds like."
-
- Seven percent of brands offer voice-based engagement through
Amazon Alexa or Google Home.
"As consumer expectations change, retailers must be prepared to
implement new models and concepts to maintain relevancy and deepen
engagement with customers," added O'Donnell. "Alliance Data's
report offers actionable ways for retailers to make that
happen."
For more information about how Alliance Data can help brands
grow sales and increase loyalty by bringing these trends to
fruition, visit http://knowmoresellmore.com/what-we-do.
Methodology
The Alliance Data Analytics and Insights Institute, which helps
brands use data and analytics to improve marketing effectiveness,
based the retail trends and data outlined in this release on
qualitative and quantitative research, including surveys of 428
consumers and 200 retail marketing professionals, interviews with
retail and banking subject matter experts, and the observations of
400 brands. Data and insights were collected starting in
November 2018 through August 2019.
About Alliance Data's card services business
Based in
Columbus, Ohio, Alliance Data's
card services business develops market-leading private label,
co-brand, and business credit card programs for many of the world's
most recognizable brands. Through our branded credit programs, we
help build more profitable relationships between our partners and
their cardmembers, and drive lasting loyalty.
Using the industry's most comprehensive and predictive data set,
advanced analytics, and broad-reaching capabilities, Alliance
Data's card services business has been helping partners increase
sales and provide greater value to their cardmembers since 1986. We
are proud to be part of the Alliance Data enterprise (NYSE: ADS),
an S&P 500, FORTUNE 500 and FORTUNE 100 Best Companies to Work
For company headquartered in Plano,
Texas. To learn more, visit KnowMoreSellMore.com, follow us
on Twitter @Know_SellMore, and connect with us on LinkedIn at
Alliance Data card services.
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SOURCE Alliance Data Card Services