You’re standing in line at the store when your phone buzzes—it’s an alert for a discount on the very product you’re about to buy. And this is not magic—it’s just data. Personalization in retail is no longer a futuristic concept, but something customers increasingly expect as part of their everyday shopping experience.
During Money Motion 2025, IT Logs sat down with Lucija Vidis Roic, principal at Boston Consulting Group, to discuss how retailers in Southeast Europe are navigating this shift. Loyalty programs, AI-powered features, fintech integration and smarter delivery are all a part of a broader digital transformation that’s reshaping how businesses engage with customers, streamline operations, and stay competitive.
In this interview Roic also argues why being a “fast follower” might actually be an advantage for early industry adopters.
IT Logs: What are the trends that connect fintech and retail right now?
Lucija Vidis Roic: It’s about trends we’re seeing across the region in all retail operations. This includes not only marketing, personalization, loyalty programs, and customer-facing content—where we’re seeing many new developments—but also how well-designed, tailored loyalty programs can increase customer spending by 20 to 30% when done right. We’ll also discuss how AI and big data can support this. Additionally, we see opportunities in back-office activities—such as negotiations with suppliers—where data collected from customers, the market, and external sources can be leveraged effectively to strengthen your position.
From your perspective, how have things changed for retail, particularly in terms of digitalization and digital transformation?
LR: I think we’re still a bit behind when we look at global trends—especially in the US—but I would say we’re fast adopters. This is particularly visible in some international retail chains that are leveraging learnings from different markets and adapting them locally. What’s also interesting is that many retailers have recognized the need to form dedicated teams focused on innovation—thinking about new features and how to leverage customer data to improve operations, increase sales, and reduce sales-related costs in the background.
At first glance, we’re not necessarily the original innovators, and I wouldn’t say we are, but we are definitely dictating some of the trends. We’re fast followers and quick to adapt, while also tailoring solutions well to our market.
We’re seeing partnerships, for example, between online delivery platforms and retailers. On the other hand, there’s been strong progress in building and upgrading loyalty programs aimed at end customers, which is becoming increasingly important. I think we’ll see even more of this in the future—as customers, we’ll increasingly expect personalized promotions, tailored just for you, like “Bojan, this is for you,” and it will likely come with digital nudges. Since most of us have smartphones and apps, companies can leverage customer data to reduce inventory, make offerings more relevant, and move away from generic promotions and communications.
Now, I believe we have all the tools and data. If we can use them the right way, there’s definitely strong potential—and this is where emerging technologies come in.
AI is clearly a major focus right now, but what do you see as the next big trend?
LR: Personalization, because I don’t think it’s being used to that extent yet. If you compare it to Tesco in the UK, they really tailor their offerings well. For example, you have features where you can scan products as you enter the store to get more information, and it can immediately trigger daily promotions based on your actions. We’re not seeing that level of personalization yet in this region, but I’m sure in the future it will become more and more of a focus across retailers—not just grocery, but others as well.
There’s definitely an exciting era ahead, but it all depends on how much companies invest in technology and how well they build partnerships. You don’t need to do everything yourself or have all the tech in-house; smart, selective investments in partnerships can really move things forward. That’s what I think will create a leap in development.
And of course, there’s also the connection with fintech—how people are paying. I don’t think this has been fully leveraged yet, or at least I don’t see it happening much here in Croatia. But we’re definitely moving in that direction. Some fintech players have already found strong niche opportunities and are positioning themselves as early movers, which is great. KEKSPay, for instance, has established itself well in this region and is now scaling up. On the flip side, that early presence can make it harder for new players to enter, but there are certainly more and more opportunities out there.
It’s definitely going to become easier for customers. I’m not sure we’re there yet on the retailer side, but that’s the ultimate goal—to create a seamless, user-friendly experience. You want customers to be able to pay easily, with one source of payment, without needing to carry cash. Ideally, everything is connected and secure. I think we’re taking the right steps, and we can expect to see more competition in this space.
When it comes to the major retail chains and new players like global delivery platforms entering the market, how has this shift impacted them?
LR: That’s exactly what they realized quite early on, right? Not only did they need to establish partnerships with retailers—like Wolt and Glovo and so on—but they also started building their own infrastructure, like dark stores or local warehouses. A lot of people are already used to the idea that they can, over their phones and through platforms they know and trust, order not just food and drinks but groceries too. So it’s definitely picking up and scaling across most markets.
I’m mostly talking about Croatia, where I live, but I’m sure Slovenia is even a bit ahead in terms of digital maturity. There’s also growing opportunity in Serbia, Bosnia, Romania, Macedonia, and other countries in the region. So I’m hopeful—and expecting—we’ll see this kind of growth across the entire region.
The goal is to make everything available to the user with one click, anytime, offering a full-service experience. So if someone’s ordering groceries, they can also immediately be offered, say, a free delivery from another service. That’s when you start thinking, OK, I’m ordering dinner—maybe I should grab a few things I’m missing at home too. They’re cross-selling very quickly—and that’s all based on data and understanding what the customer actually needs. It’s no longer about staying in your specific box, like this is my market segment, I do restaurants only. It’s about addressing customer needs more holistically.
