Digital media and marketing software firm Adobe on Tuesday announced that home improvement retailer Home Depot has signed on to use its latest personalized marketing tool. ADBE stock rose on the news.
Home Depot has agreed to use Adobe's Real Time Customer Data Platform, which is part of the Adobe Experience Platform. The Real Time Customer Data Platform allows retailers to develop personalized marketing campaigns much more quickly than in the past, Adobe said.
Home Depot is looking to bridge its online and brick-and-mortar shopping experiences using Adobe software. Home Depot's interconnected retail strategy spans e-commerce, a mobile app, and in-store services such as pickup lockers and an in-app product locator.
Those customer touchpoints can provide insights into the customer journey and enable more accurate personalized marketing campaigns, Adobe said. Those campaigns can include offering products that customers need to finish projects, rather than pitching products that are not relevant to their project goals.
ADBE Stock Has Middling Composite Rating
On the stock market today, ADBE stock rose 0.9% to close at 433.42. Home Depot stock slid 0.7% to 301.77.
"Our expanded partnership with Adobe will enable us to enhance the customer experience even further, driving personalization at scale and further optimizing the Home Depot experience across online and in-store," Melanie Babcock, Home Depot's vice president of integrated media, said in a news release.
Other retailers using Adobe's Real Time Customer Data Platform include Dick's Sporting Goods, BJ's Wholesale Club, and Signet Jewelers. Beyond retailers, customers for the Adobe product include Major League Baseball, General Motors, Coca-Cola and Panera Bread.
ADBE stock ranks second out of seven stocks in IBD's desktop software industry group, according to IBD Stock Checkup. But ADBE stock has a middling IBD Composite Rating of 57 out of 99. IBD's Composite Rating combines five separate proprietary ratings into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.
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