LoyaltyLab creates opportunities for traditional retailers to anticipate their customers' needs and communicate with timely accurate personalized offers.
Based on the retailer’s transactional data and collected external data, LoyaltyLab forecasts the future behaviour of each identified customer. Predictive analytics allows forecasting the time of the visit of the buyer, which allows communicating at the best moment, not annoying with messages at other times. Also, the composition of the future check is predicted, which allows forming recommendations that are relevant at the moment of purchasing. To increase the relevance of the communication, the context of purchases from 50+ sources is taken into the account, and optimal discount calculated so that it serves as a pleasant motivation.
Next, it tells the retailer what personalized offers and at what moment should be sent to each buyer to make them visit the store and purchase suggested goods.
Thus, the solution allows the retailer to foresee when and for what products the customer will come and select the most relevant products for a personal recommendation, showing that it understands the needs and desires of its customers. The solution drives overall turnover growth up to 10% and up to 5% expansion of shopping basket value.