Why Salesforce Stock Shattered Markets Thursday

0
4


what happened

The product was the catalyst for a set of improvements sales force (CRM 3.24%) Stocks rose on Thursday. The customer relationship management (CRM) software mainstay’s share price advanced more than 3%, which was just over a 0.3% improvement. S&P 500 Index on the day.

so what

That morning, Salesforce unveiled a slate of “innovations” to bolster its product lineup. These will enhance the company’s Salesforce for retail media offerings, as well as its Commerce Cloud, Loyalty Management and Genie Customer Cloud products.

These upgrades are related product tweaks. One for retail media, to cite one example, more closely integrates automation and workflow to strengthen relationships with advertisers and make enterprises more efficient. A Commerce Cloud enhancement, meanwhile, allows users to gather a single view of both online and physical transactions

In its press release on the matter, Salesforce said that the improvements “Helping retailers increase and optimize ad sales, gain a single view of transactions across digital and physical stores, and unlock value from their customer data.”

what now

Salesforce added that this is partly in response to internal research indicating that a “disconnected” customer experience is a major source of shopper frustration in the retail industry. In fact, it found 79% of consumers surveyed expect to adjust their retail spending over the next year.

Yet if those retailers put in more effort, they stand a better chance of retaining their clients. Salesforce research also indicated that 65% of respondents would be loyal to businesses that are able to offer a more personalized experience during their shopping process.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions and recommends Salesforce. Motley Fool has a revealing policy.


LEAVE A REPLY

Please enter your comment!
Please enter your name here