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Retailers fine-tune collection of data to improve customer experience

Experts gather at ‘Game Changers’ conference in Hong Kong to discuss moves that will shape the next retail revolution

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Paul Jung (far right), Visa's head of products and digital innovation for Northeast Asia, speaks at a panel discussion at the Game Changers conference. Also on the panel (from left) are Joseph Yuen, the chairman of the Hong Kong Federation of E-Commerce; Andrew Lo, the founder of Hong Kong-based payment solutions provider EFT Payments; and Joseph Chan, the chief executive at electronic payment service Asiapay. Photo: SCMP

As consumer choice continues to expand both online and offline, retail businesses need to focus on using technology to personalise their customer experience if they really want to stand out from the crowd, according to industry experts.

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Speaking at the South China Morning Post’s Game Changers conference in Hong Kong, dedicated to looking at the retail revolution, Will Ross, chief executive of Lazada Crossborder, said that it is imperative for digital e-commerce platforms to adopt data science to create “active interfaces” that help customers overcome any doubts they have become making a purchase.

Will Ross, chief executive of Lazada Crossborder (Hong Kong), speaks at the conference. Photo: Handout
Will Ross, chief executive of Lazada Crossborder (Hong Kong), speaks at the conference. Photo: Handout

“[Part of every sales process] is building a connection with the consumer that helps them overcome any insecurity they might have making their choice,” said Ross, adding that this process still needs to be done, even if it is a digital transaction without a physical salesperson to help aid the process.

He emphasised how important a role big data and data science are now playing in allowing companies such as Lazada to gain valuable insights into customer behaviour from data, and identify how and through which mediums consumers buy their items, to better personalise and target the experience for consumers.

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Ling Chenkai, vice-president for JD.com’s corporate strategy and operational improvement, echoed Ross’s sentiments, stressing the importance of detailed knowledge of their consumers and products, to elevate their consumer experience.

Ling Chenkai of JD.com speaks at the conference. Photo: Handout
Ling Chenkai of JD.com speaks at the conference. Photo: Handout
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