In this day and age it seems the buzz words just keep coming. Two such words are “personalisation” and “individualisation”. These are not just words however they are much more than that. What they are, is the idea that all messages and campaigns can be personalised and targeted at a particular audience, or the Holy Grail, the individual.
Nowhere is this more important than in the brave new world of ecommerce and digital marketing. The idea is that using all the big data tools at their disposal large brands and retailers can get a particular product in front of a particular individual just around the time they might be contemplating a purchase. The problem however as I see it is the dichotomy of this approach. By definition the large brands and retailers have at their core the approach of mass appeal. Zara sells the same product in Ireland and the UK as they do in Spain for example. Tommy Hilfiger jeans as far as I can see are the same regardless of whether you buy them on Fifth Avenue or Oxford Street. The lovely thought that Calvin Klein or Debenhams is aware of exactly who you are and what your real world preferences are is so far from the mark. Even if they do have a profile of a customer bracket within which you happen to fit are you really going to believe that you and you alone will be walking the high street in the particular product you’re purchasing? I would think not.
This is where it gets interesting however. The big guys work on numbers, they churn big data and come up with very valuable insights. Their product is the same across the globe or country in which they operate but their marketing campaigns differ. If we contrast that with the wide and diverse world of Independent Retail we can see stark differences. And it’s in these differences that competitive advantages lie.
The majority of independent retailers do not have access to the kind of data the big guys have. But the question is do they need it? The Independent is much more likely to know their customers by name than the multiple. They are likely to have more face time and real world interactions. They know their demographic and niche. They know these things not from some code or algorithm but from talking with, meeting and greeting the customer. The Independent retail sector as a whole is much more diverse and exciting than the big operators who work on a model based around volume and homogenisation. We really believe in Stylefinch HQ that the Independent retail sector should be shouting about the diversity and differences that exist across our high streets.
In my local town there are 15 plus independent boutiques. Each boutique has a completely different flavour and diverse product range. You will not find the same labels or exact product in any one of them. The closest Shopping Centre is populated by M&S, Debenhams, Zara, New Look etc. and guess what they all look the same. If you have an event and want to look different then go to our boutiques. If you want to look like everybody else then open that next personalised Email and buy the product that has just been sent to hundreds if not thousands of others at the same time. The only thing personal about it is your name. For real personal sign up to your favourite local retailer’s Email marketing list or check out their smaller unique online store or better still go say hello. After all you know them and they know you.
Viva la difference.