The commerce journey is entering a new era, evolving from traditional transaction to omnichannel, data-driven, and direct-to-consumer (D2C) value exchange. Marketers are now experiencing a world without cookies, reliant on customers volunteering personal data. Customers want brands to treat them as individuals and personalize experiences to suit their needs. In this new total commerce approach, the customer is at the heart of business strategy, instead of the product.
To power this transformation, brands are modernizing their data infrastructure to enable data ownership, drive brand loyalty, and activate personalization at scale. However, many recognizable fashion, luxury and beauty brands are still in the early stages of this work and looking for solutions to leverage big data and accurately measure ROI.
Together with Launchmetrics we’ve launched the ‘The State of Measurement for Fashion, Luxury and Beauty 2022’. This report aims to help industry professionals better understand marketing impact and attribution in an omnichannel world, as well as identify metrics, tools and KPIs to measure the effectiveness of their data strategies. As part of our findings, we discuss key levers for brands to know as they start this journey, from establishing the right suite of tools to increasing data fluency to better extract insights.