The ways that we buy products have changed, and so have shopper marketing techniques.
It is no longer enough to make educated guesses about the preferences of consumer groups based on broad demographic data. Marketing needs to be customized and made personal for the shopper.
"Shoppers have become increasingly informed," Ryan Freeman, vice president of partnerships at Turnstyle Solutions, said in a recent interview with eMarketer. "Shopping is less about trial and exploration and more about validating assumptions and hypothesis."
It's true. According to a study conducted by PricewaterhouseCoopers, more than 80 percent of shoppers say that they do research online before buying consumer goods like clothing and electronics. There is no shortage of websites containing detailed reviews of almost any product imaginable. The job of the retailer, then, is to determine exactly what goods their loyal customers are likely to search for, and create an in-store experience that reflects this demand.
By using advanced analytics, retailers can collect and study information pertaining not only to purchase behavior but also social media activity. This can give them a fuller picture of what their customers are looking for, allowing them to make informed decisions regarding advertising, in-store product layout and pricing.
Interactive Edge offers a number of creative ways to get the most out of your data. Our solutions help retailers analyze impactful data from multiple sources and put it to good use – improving sales, revenue and ultimately strengthening their businesses. Check out the rest of our website to learn more about the services we offer to our clients.