The network will drive competitiveness and improve shopping experiences in an ever-evolving retail marketplace
SAN FRANCISCO, CA, June 11, 2018 – OneMarket (ASX: OMN), the first retail technology network focused on uniting the most powerful group of retailers, shopping venues and technology companies, is adding to its growing list of partners. Retailers Express, GUESS?, Inc., and New Stand, as well as shopping center owners/operators Macerich, Taubman and Steiner + Associates are partnering with OneMarket, joining previously announced partnerships with Nordstrom and Unibail-Rodamco/Westfield.
The retail industry is in the midst of a revolution, and OneMarket’s growing list of partners have joined the network to take a new approach to meeting consumer demands by collaborating on customer data insights and bringing innovative technologies to market that improve the shopping experience for all. There are three core areas that fall under OneMarket’s network and that partners are engaging with in various capacities; consumer engagement, advertising and consumer insights.
Consumer Engagement: Invest in Technology Together, Faster
There are several innovative technologies that all retailers should be adopting to engage consumers based on their demands, but that require profound capital investments and time to get right when implemented alone. OneMarket’s platform allows participants to implement technologies (i.e. artificial intelligence, artificial reality, natural language processing) at scale more quickly while making a smaller individual investment. In doing so, participants can drive consumer adoption and engagement and deploy familiar yet seamless experiences. One of the first-to-market consumer engagement products is an interactive digital receipt that allows retailers and/or venues to engage shoppers after a transaction is made online and/or in-store.
The platform leverages dominant communication channels where consumers are already spending a majority of their time like Facebook Messenger and SMS, giving OneMarket the ability to engage with consumers on behalf of network participants without required downloads or sign-ups, and allowing consumers to seamlessly interact between communication channels of their choice. Creating one unified technology platform for retail across all conversational interfaces increases consumer adoption, allows for consumer choice, and easily merges online and offline shopping.
OneMarket also allows partners to together develop technologies, products, and services on top of its platform that make physical retail spaces more engaging, that improves speed-to-market, reduces costs and standardizes the ways in which consumers interact seamlessly across multiple retailers.
Advertising: A New Standard for Co-Marketing
OneMarket’s advertising platform allows retailers and shopping venues to turn co-marketing into a strategic advantage. It leverages audience data to enable more successful marketing campaigns, resulting in an increased value in vendor-funded campaigns, incremental media dollars and additional product sales both online and offline.
Consumer Insights: Harness the Power of Collective Knowledge
At the core of the network is participant populated data, securely processed through proprietary artificial intelligence (AI) and machine learning algorithms, that enable the development of more holistic customer insights. The data is provided to partners to bridge their data deficiencies resulting in actionable insights into shoppers’ intent, preferences and lifestyle, and create opportunities for relevant engagement that drives transactions. Ultimately, it results in the ability to compete more effectively with ecommerce players, like Amazon and Alibaba, who have a significant amount of customer data.
“Working with OneMarket will provide retailers and mall owners the opportunity to leverage a holistic set of data on each individual customer that not one company has possessed until now, including customers’ interests, what categories they shop, where they dine, how much they spend and how often,” said Taubman Centers, Inc. Chief Operating Officer William S. Taubman. “Ultimately, it will enable us to customize each shopping experience and make it more efficient.”
“We all have to urgently re-think our approach to retail if we want to win in the marketplace of today, and more importantly tomorrow,” said Don Kingsborough, CEO of OneMarket. “Collaboration, collective investment in technologies, higher industry standards, and a seamless, standardized way to shop for the consumer – this is just the beginning. Being united on a single platform will forever change the way we interact with our consumers and succeed as an industry.”
OneMarket is the world’s first retail technology network with the mission of reshaping the way the world shops. Established in 2017 and built upon the success of Westfield Labs and Westfield Retail Solutions, the network unites retailers, brands, shopping venues and technology partners to collaborate on data insights and implement new technologies like natural language processing, AI and AR at scale. Through OneMarket’s network, retail partners globally can overcome data, technology, and speed-to-market challenges. The collective goal of the network is to create better experiences for all of retail by transforming a fragmented industry into an integrated one.
Vice President, Marketing Communication