From Retail Customer Experience:
Most brands take pride in knowing who their customers are: knowing not just their demographics, but understanding, to some degree, their challenges, wants, needs, and priorities. But that understanding is quickly becoming a baseline expectation, not an advantage. According to a recent article from Forbes, "Brands that succeed in 2023 are likely to be those that take their experience to the next level by analyzing and predicting customers' behaviors, interests, and preferences in a consistent and accurate way."
Imagine this scenario: A retailer has a large shipment of new inventory coming in, arriving just in time for the holiday shopping season. Before this retailer decides how to set up inventory in-store and promote these new products, imagine they could better understand how customers would respond to various factors, such as inventory levels, store layout, in-store support, and specific offers, and then optimize every variable for the best possible customer experience.
How can a retailer accomplish this? With digital twins.