LAS VEGAS, March 20, 2017
/PRNewswire/ -- IBM (NYSE: IBM) today announced that Titan
Company Limited, India's leading
manufacturer of watches and other fine personal accessories, is
using IBM Watson Customer Engagement and cloud-based solutions to
help increase annual sales from its 11 million loyalty customer
base, while attracting new consumers to Titan's unique line of
products.
A multi-category, multi-brand global lifestyle products
manufacturer based in Bengaluru, India, Titan recognized a tremendous
opportunity—the Indian e-commerce market is set to overtake the US
and become the second largest in the world in less than two decades
(1). To achieve success while fending off new online competitors,
Titan's goal is to re-energize its 1500 brick & mortar stores,
increase online presence and continue to inspire and excite its
current customers to drive more frequent sales from each, while at
the same time, attract new customers to the brand. In fact,
India's robust economic growth and
rising household incomes are expected to increase consumer spending
to US$ 3.6 trillion by 2020 (2) –
which can help to unfold new opportunities for Titan.
Titan is currently leveraging IBM Watson Customer Engagement
solutions to serve as the backbone of its online platform, enabling
the company to tailor online campaigns that are unique to their
customers – not just taking into account preferences and past
purchases (what they spent previously, what deals sparked action),
but also leveraging analytics to examine
their real-time behavior (i.e. what items are being
looked at most, what channels are customers buying through, why
cart was abandoned, etc…), so campaigns can be tailored on the fly
to help drive a purchase.
For example, Titan can identify customers whose watch purchases
in the past indicate contemporary fashion sensibilities and
introduce deals on contemporary jewelry designs for these
customers. They can not only customize the amount of the discount,
but also where it should be delivered to - via email, mobile, etc.
- all based on past behavior. Next, as the customer navigates the
site, the retailer can identify other items that are grabbing their
attention and respond with deals on each.
"India is poised to become
the largest digital marketplace in the world, which will introduce
entirely new levels of competition between retailers looking to
grow a loyal customer base," said Harriet Green, general manager, IBM Watson
Customer Engagement. "Through IBM Watson Customer Engagement
offerings, IBM is not only providing Titan capabilities to engage
their customers, we are also helping them on their path to
cognitive - where Titan can introduce additional Watson-powered
solutions to help them gain momentum for years to come."
Through its work with IBM, Titan aims to energize its current
customer base, who on average make 1.5 purchases a year, into
regular buyers who buy three times as many items annually, whether
through the browser, their mobile device or in a Titan store. Titan
aims to use IBM's platforms to drive visitors to its brand
websites, as well as footfall into its 1500 retail stores and
10,000 multi-brand outlets located across India. In these store locations, sales
associates will have mobile apps to provide them with details on
each shopper (from past purchases to style preferences and more) so
they can maintain highly-customized and personalized
relationships.
"The continued growth of e-commerce presents a tremendous
opportunity for Titan to better meet the unique needs of our
customers while tapping into vital new revenues for our business.
IBM will play a significant role in ensuring our success,"
said Kuruvilla Markose, Chief
Digital Officer, Titan Company Limited. "Working with IBM,
we will be able to personalize all customer interactions both
online and in the store, introducing shoppers to new relevant
products that not only evoke the design and flare that is
indicative of our products, but reflect their unique, personal
styles. We want to bring the warmth and relationships our stores
are famous for, into the digital world that our customers are
increasingly frequenting", he added.
As part of its digital makeover, Titan is leveraging a suite of
IBM Watson Customer Engagement offerings. IBM Watson Customer
Engagement powers a full spectrum of solutions including cognitive
engagement offerings delivered as a service and on premise. Today
IBM is the only vendor that helps companies infuse cognitive
technologies seamlessly into their marketing, commerce and supply
chain capabilities.
IBM currently is working with more 17,000 companies around the
world including Amadori Group, American Eagle Outfitters, Boots,
Ermes, Luxottica, Moosejaw Mountaineering, Office Brands,
Performance Bicycle, REI, and Sherwin Williams.
About Titan Company Limited:
Titan Company Limited
(earlier known as Titan Industries Limited), a joint venture
between the Tamil Nadu Industrial Development Corporation (TIDCO)
and Tata Group, commenced operations in 1987 under the name Titan
Watches Limited. In 1994, Titan diversified into Jewellery and
subsequently into eyewear with Titan Eyeplus. In 2013, Titan
entered the fragrances segment with SKINN.
Today, Titan Company Limited, India's unchallenged leader in watches,
jewellery and eyewear, is credited with changing the face of all
these industries. Titan Company reported a growth of 14.7% in
income in Q3 over same period last year despite some headwinds on
account of demonetization. Income for the nine-month period ending
December 2016 grew by 7%. The overall
income from operations in the third quarter, October to
December 2016, was Rs.3905.22 crores,
as compared to last year's income of Rs.3404.52 crores
during the same period.
Sources:
1. The Indian Express: India to overtake US as world's largest
e-commerce market: Study December 5,
2016. http://bit.ly/2hcpasa
2. India Brand Equity Foundation: India Consumer Market.
February 2017.
http://bit.ly/1sGQiCn
Media Contact(s):
Hanna Smigala
IBM Media Relations
Smigala@us.ibm.com
1-203-512-5497
Media Contact(s) for Titan Company
Limited:
Pratyakshya Subramanyam
Edeleman India Pvt. Limited
Pratyakshya.Subramanyam@edelman.com
+91 8296892137
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SOURCE IBM