menswherehouse
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Two menswear brands step up digital personalization

BY Deena M. Amato-McCoy

Men’s Wearhouse and Jos. A. Bank are not just enhancing customer experiences across their websites — they are personalizing them.

Tailored Brands is partnering with Certona to provide online shoppers across its Men’s Wearhouse and Jos. A. Bank divisions with a highly personalized digital experience — one very similar to those they are used to during in-store visits. This is a strategic move as digital shoppers expect a seamless and cohesive individualized shopping experience — even as they move across multiple channels and touchpoints.

Using Certona’s personalization solutions, Tailored Brands can leverage deep shopper insights, real-time context and predictive analytics to deliver more relevant experiences to each individual shopper as they engage with the brand online and via mobile. Major aspects of the shopper experience journey, from the homepage to checkout, will be dynamically personalized. Shoppers will also have access to new capabilities, including visual search and navigation and product finder capabilities.

“At Men’s Wearhouse and Jos. A. Bank, our customers receive a one-of-a-kind shopping experience that prioritizes convenience and personal style preferences,” said Samantha Lee, VP of site management and customer experience of Tailored Brands. “We see omnichannel personalization as a strategy for evolving the way our customers engage with our brands.”

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Online_shopper_frustrated
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Study: Even millisecond delays impact customer engagement, revenue

BY Deena M. Amato-McCoy

The user experience is critical to e-commerce success, a factor that makes snafus in Web performance unacceptable.

Performance is so critical that even a 100-millisecond delay in website load time can hurt conversion rates by 7%. Meanwhile, a two-second delay in Web page load time increase bounce rates by 103%, according to the “State of Online Retail Performance,” a report from Akamai Technologies.

The study represents one month’s worth of anonymous user data from top online retailers, equating to approximately 10 billion user visits. The report was previously issued by SOASTA, which was acquired by Akamai in April 2017.

According to the report, half of consumers browse for products and services on their smartphones. However, due to poor Web performance, only one in five complete purchases using those phones. Currently, 53% of mobile site visitors will leave a page that takes longer than three seconds to load.

Bounce rates were also highest for mobile phone shoppers, while tablet shoppers had the lowest bounce rate, the report said.

“Results from our State of Online Retail Performance report have shown that user experience is critical to e-commerce success, and things aren’t getting any easier,” said Ash Kulkarni, senior VP and general manager, Web experience division, Akamai. “Customers have extremely short attention spans, and degradations in website performance — no matter how small — can cause consumers to go elsewhere in an instant. Sharing our findings about performance gives online merchants the actionable data they need to stay competitive.”

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CyberCrime
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Study: Customized, enterprise-wide plans fight cyberthreats

BY Deena M. Amato-McCoy

Senior executives must be ready to tackle the legal and business risks associated with cyberthreats — even before they happen.

This means companies must establish enterprise-wide tactics to identify risks, appraise response metrics and apply company-specific risk mitigation strategies, according to the “2017 Data Security Incident Response Report,” from BakerHostetler. The study analyzed more than 450 cyber incidents that the firm handled last year.

"It's no longer a question of which industries are most at risk. All industries are faced with the task of managing dynamic data security risks,” said Theodore Kobus, leader of the privacy and data protection team. “Even companies in the retail, restaurant and hospitality industries, while highly regulated, had the fourth-highest rate of data security incidents.”

Phishing/hacking/malware incidents accounted for the plurality of incidents for the second year in a row, at 43% — a 12 percentage point jump from a year earlier. The only category for which phishing/hacking/malware was not the most common incident cause was finance and insurance, where employee action/mistake was the top reason, the report said.

Ransomware attacks — where malware prevents or limits users from accessing their system until a ransom is paid — have increased by 500% from a year earlier.

"Having a regularly scheduled system backup and a bitcoin wallet to pay a ransom will help with operational resiliency,” said Kobus. “Ransomware is not likely to go away, and incidents will probably increase over the short term, so companies should be prepared.”

When it comes to minimizing risk against these attacks — as well as respond promptly and thoroughly should a cyber breach occur —the top strategy is to increase awareness of cybersecurity issues through training and education, according to the report.

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