Think Tank: The Personalization Conundrum, Data OverloadRohan Deuskar, ceo and founder at Stylitics, shares why personalization strategies are only as good as the data collected.

[Collection]The retail industry is buzzing with the potential of applying personalization, artificial intelligence and big data to capture the Millennial consumer, and since they possess the largest annual spending power of any generation — a hefty $200 billion — we can understand why. This digitally native cohort is shaking up the game. They are demanding personalized experiences but are concerned about data privacy. Many brands have yet to find the recipe that quells worries over privacy while delivering more meaningful one-to-one experiences. This year, brands and retailers such as Nordstrom, Rent the Runway and Ann Taylor implemented on-point data-driven and digitally savvy strategies that delivered successes. But they are the exceptions. The majority of retailers are struggling to build the right technology stack that can capture, store and process meaningful data. In fact, upward of 54 percent of retailers rank their personalization strategies and omnichannel maturity level as “low,” according to a presentation by Meyar Sheik of Certona during Shop.org this fall. While data collection is a fundamental part of creating more personalized experiences, the new question is, “What data should be captured?” Personalization is table stakes, but poor execution equals poor results U.S. consumer satisfaction is precarious with statistics from a recent Accenture report

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