Destination XL Group Inc. said it inked a deal with retail analytics solution provider DynamicAction to help it create a more customer-centric environment as part of the “transformation of its digital business.”
Terms of the transaction were not disclosed.
The retailer said in a statement that leveraging DynamicAction’s technology and data analytics will enable it “to connect customer, product and profit data across its business, fostering organizational alignment and an exceptional customer experience.”
Adopting such technologies is part of a continuing trend among retailers who are turning to companies such as DynamicAction, First Insight, RetailNext and others to help improve the shopping experience for consumers via data-driven strategies. The ongoing growth of Amazon — especially in the fashion space — is also driving companies to make these investments.
“The retail industry is challenged with the shifting economics of omnichannel, the complexities of consumer behavior, increased operating costs, declining store performance and ‘the Amazon Effect, and successful companies are pushing themselves to reimagine their businesses,” DynamicAction said, adding that its solution “aligns with DXL’s digital vision and directive for authentic customer engagement.”
The technology company said using its solution will help “combat increased pressure from industry disruptors by arming [Destination XL] experts with the ability to view the entire retail picture without being buried under deep pools of data.” The retailer hopes the deployment of the technology will boost sales as well as profits.
Sahal Laher, chief digital officer and chief information officer at Destination XL Group, said the company is “constantly looking for the best ways to make the customer’s buying journey seamless and frictionless.”
“This requires going beyond the transactional elements and really understanding how our customers view our brand, and in turn, how we communicate our brand story to each individual customer,” he explained, adding that adopting the new platform “will gain the ability to unify our organization by analyzing all data points across channels to deliver a personalized brand experience. By understanding and leveraging our customer’s connected behavior, DXL will be able to continue building customer loyalty by ensuring every touchpoint delivers an enhanced experience for our customer.”
The solution unifies data points about the customer, product, inventory and gross margins.
John Squire, chief executive officer and cofounder of DynamicAction, said as the retail industry heads into the holiday season, “it is more vital than ever to have the specific tools and plans in place to leverage your organization’s unique assets to drive profits and create lasting customer relationships.”
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