Data & Analytics

Ikea is allowing its shoppers to virtually test drive merchandise before making a purchase.   The home furnishings giant is preparing to launch a new augmented reality (AR) app. Called Ikea Place, the app allows customers to virtually place furniture in any space in their home, office, school or studio — and share the images.    The app, which will be supported by Apple’s iOS 11 platform, will launch in late September.  

Amazon is expanding into one of the go-to destinations for product discovery.   This was according to “Amazon: The Big E-Commerce Marketing Opportunity for Brands,” a report from Kenshoo. The study is based on 3,100 consumers in the United States, Germany, United Kingdom and France.  

The National Retail Federation is once again making the case for a new federal law on data breach notifications.   Citing the recent breach at the Equifax credit reporting agency, National Retail Federation and other industry associations are telling Congress that any new federal law on data breach notification should apply to all industries that handle consumer data.   

A cash-free economy could be here sooner than expected — and American consumers are leading the charge.   Slightly more than half (54%) of consumers in the United States expect to stop using cash for shopping by 2020, according to “Lost in Transaction,” a report from payments provider Paysafe. The study, conducted among 3,038 consumers in the United States, United Kingdom and Canada, examines how cash is merging with digital formats.  

Walmart is simplifying its U.S. business as it looks to respond more quickly to the accelerating pace of change in the retail industry.   The discounter is consolidating its six divisional groups into four and its 44 U.S. regional groups to 36, reported Bloomberg.   

Relevant, personalized messages are key to driving engagement, yet the quality of sourced data is negatively impacting results.   This was according to “More Data, More Problems: Trust, Transparency & Targeting in 2017.” The report from Bazaarvoice and Ad Age, is based on interviews of more than 300 agency and brand marketers.  

Target Corp. has kicked off a partnership with BCG Digital Ventures to conduct a 14-week “innovation sprint.” For the project, BCG's experts (including designers, engineers and investors) are working side-by-side with five Target associates to develop new growth concepts and ideas. (The associates are middle managers from across Target's various divisions, reported the Star Tribune.)  

A new restaurant concept gives customers an easy — and high-tech way — to pay for their meal without having to take out their wallet or even their smartphone.