In an August 14th Vogue Business article by Madeleine Schultz , Saks Global, the parent company of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, discussed its personalisation strategy and an investment of $600 million for it's new platform. The only problem is: based on the article, we think they got it wrong.

In this episode of the Experience Strategy Podcast, hosts Aransas Savas, Joe Pine, and Dave Norton delve into the evolving landscape of personalization in retail, particularly focusing on Saks Global's new strategies. They discuss the importance of understanding customer modes, the role of contextual data, and the challenges faced by traditional personalization approaches. The conversation highlights the need for brands to meet customers where they are, especially in the age of social shopping, and emphasizes the integration of online and offline experiences to enhance customer engagement.

This episode is brought to you by The Cargo Agency and Feedback Now.

Takeaways

• Personalization is a form of customization for individuals.

• Saks has invested heavily in personalization strategies.

• Modes thinking is crucial for effective personalization.

• Contextual data is essential for understanding customer needs.

• Traditional personalization approaches may feel outdated.

• Social shopping is a growing trend in retail.

• Brands must meet customers where they are online.

• Integration of online and offline experiences is key.

• Personalization should not just be about demographics.

• The future of retail lies in innovative and brave strategies.

Chapters

00:00 Introduction to Personalization in Retail
02:57 Exploring Hyper-Personalization Strategies
05:55 The Importance of Context in Personalization
09:05 The Role of AI and Machine Learning
11:57 Challenges of Traditional Retail Personalization
14:49 The Shift Towards Social Shopping
17:45 Integrating Online and Offline Experiences
20:48 Future Directions for Retail Personalization

Read more

https://www.voguebusiness.com/story/consumers/inside-saks-globals-personalisation-strategy?utm_source=chatgpt.com

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Q2 of the US economy was very kind to movie theaters who are still recovering from the pandemic. AMC's financial performance and the evolving landscape of cinema experiences suggests a rebirth for badly bitten sector. Thanks to A Minecraft Movie and other blockbusters, we are finally seeing the repurposing of movie theater. The hosts explore the importance of community and shared experiences in film, the role of content quality, and innovative strategies to engage audiences. The conversation emphasizes the need for theaters to enhance the overall experience to attract viewers back, highlighting the significance of immersive and communal elements in the movie-going experience.

Takeaways

• The pandemic significantly impacted the experience sector, especially movie theaters.
• Improving the theater experience can lead to increased attendance.
• A Mindcraft Movie and other blockbusters created tremendous box office revenues.
• Content quality is crucial for drawing audiences back to theaters.
• Community experiences enhance the enjoyment of films.
• Innovative strategies can create shareable moments in cinema.
• Theaters need to focus on creating immersive experiences.
• Audience engagement is key to the future of cinema.
• Shared experiences can drive social media buzz and virality.
• The movie industry must adapt to changing viewer preferences.
• Designing for different viewing modes can enhance the cinema experience.

Chapters

00:00 Introduction to the Experience Economy
01:15 The Impact of the Pandemic on Movie Theaters
03:33 The Premiumization of Movie Experiences
05:34 Challenges of Movie Theater Experiences
08:17 The Success of Community-Driven Films
12:30 Creating Shareable Experiences in Theaters
16:46 The Role of Experience in Movie Theaters
20:45 Conclusion and Broader Implications

Read more

https://www.wsj.com/business/earnings/amc-posts-narrower-loss-as-sales-surge-7c161073?st=pqPSLX&reflink=desktopwebshare_permalink

https://screenrant.com/a-minecraft-movie-chicken-jockey-scene-audience-reactions-explained/?utm_source=chatgpt.com

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Sign up for the Experience Strategist Substack here:

https://theexperiencestrategist.substack.com

In this episode of the Experience Strategy Podcast, hosts Aransas Savas, Joe Pine, and Dave Norton discuss a recent episode of the Diary of a CEO featuring Mo Gawdot, who predicts a dystopian future driven by technology and AI. The conversation explores themes of transformation, the value of work, and the implications of AI on jobs and society. The hosts critique Mo Gawdot's techno-extremism and emphasize the importance of hope and purpose in navigating the future. Using insights from The Experience Economy, from Experience Strategy, and human behavior, they argue for a bright future for those focused on customer's needs and desires

Takeaways

• Mo Gawdot predicts a 15-year dystopia followed by a utopia.
• Critique of techno extremism highlights the need for balance.
• Transformation is key to the future economy.
• Work provides purpose and meaning to individuals.
• AI will create new jobs, not eliminate them.
• Gawdot argues against hope and against innovation
• Embracing AI is crucial for future success.
• People are resources that drive innovation.
• Experience strategists need to develop a strategic point of view to thrive in the future

Chapters

00:00 Introduction to the Experience Strategy Podcast
01:26 Mo Gawdot's Dystopian Predictions
02:54 Critique of Techno-Extremism
05:19 Transformation vs. Dystopia
10:24 The Role of Work in Human Dignity
14:41 AI and the Future of Work
18:59 Hope and Transformation
22:55 The Last Mile Issue in Automation
25:02 Future Skills for Experience Strategists

Read more

https://open.substack.com/pub/theexperiencestrategist/p/the-future-is-uncertain-and-bright?r=257bs3&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false

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Learn more about Stone Mantel

https://www.stonemantel.co

Sign up for the Experience Strategist Substack here:

https://theexperiencestrategist.substack.com