Clotilde Chenevoy | Thursday 15 September 2022 | Data
Galeries Lafayette has created an internal retail media platform by mixing its data to provide its partner brands with insight into customer expectations.
With Tailored Insights, Galeries Lafayette monetizes its data with partner brands. – © DR
Data, data, tell me what customers want… Galeries Lafayette’s partner brands will be able to answer this important question with Tailored Insights, a new retail media platform. The tool was developed in-house and offers data-driven analysis and personalization of customer experience.
“With this new platform, the company confirms its desire to accelerate its omnichannel transformation by leveraging an additional 5.4 million monthly visitors to its merchant site and a vast network of stores scattered across the territory,” the press release states.
Retail initiatives of this kind are multiplying because retail media is an attractive new business. Innovative traditional brands, excluding pure players, include Fnac Darty and Carrefour Links. But this is a first for the French actor in department stores, the group notes. Remember, according to IAB France and MMA (Mobile Marketing Association), retail media continues to grow: 20% of digital investment is estimated in the US in 2023 and already 8.3% in France (7.7 billion euros). +69% compared to 2019.
Tailored Insights, a retail media platform dedicated to fashion and the home.
To develop Tailored Insights, Galeries Lafayette worked with brands so that the tool could respond to their strategic or operational challenges. It is therefore adapted to the needs of fashion and the home, with the development of algorithms specific to these sectors. “Through secure management and robust data analytics, Galeries Lafayette partner companies will be able to access precise management of their performance and their customer profiles to offer a more relevant product offering and anticipate upcoming season trends to create more effective measurable marketing tools,” the department store promises.
Club Retail Talk: Come and talk retail on Monday, September 19th.
Républik Retail invites Retail Directors to meet on September 19, 2022 to discuss retail media issues during the Club Retail Talk held at the Hoche Saint-Honoré fairs.
What is a Retail Talking Club?
Deliberately unusual format and tone.
Dinner-debate arranged like a Marc Dumas radio (ex BFM) All guests take the floor. The facilitator addresses the most shy people first and thus creates a unique exchange atmosphere. The clubs are confidential and without the language of the tree.
Evening times: 7:00 pm: Opening cocktail (champagne and petit fours) / 7:45 pm: Start of debate-dinner / 9:40 pm: Conclusion / 9:45 pm: Cocktail networking
LEARN MORE ABOUT RETAIL TALK CLUB.