Consumer needs are constantly changing and retailers struggle to keep up with these changes. In a recent report Aberdeen looked at how to effectively capture and use data to respond to changes in shopper behaviour through omni-channel interactions.
Between June and August 2015, Aberdeen Group surveyed 196 organisations regarding the key trends and best practices influencing retail activities. Figure 1 below reveals the top challenges that retail executives face:
Modern retailers must identify the channel preferences of each customer and align themselves with the needs and wants of the empowered shopper in order to increase brand loyalty and improve overall customer spend. Figure 2 below shows the top strategies that make these savvy retailers more successful than others.
Implementing a data-driven consumer interaction strategy marks the next generation of retail activities. Companies that build and manage the capabilities to deliver such data-driven interactions will be the ones to survive and thrive.
Three Steps to Deliver Data-driven Shopper Experiences
- Establish a unified view of the shopper’s journey
Aberdeen’s March 2015 “Big Data in CEM: The Path to Productive Employees & Happy Customers” study shows that companies use an average of four channels to interact with customers. Findings from the “Big Data in CEM” study shows that only four out of ten businesses currently have a single view of the customer data.
- Use analytics to transform data into actionable insights
The next step is to put the data of the unified view of the customer’s journey into action. Retailers use a variety of analytical tools such as business intelligence, web analytics and predictive analytics. Analytical tools deployed by savvy retailers are listed in Aberdeen’s March 2015 “Data-Driven Retail: The Path to Better Customer Experiences”.
- Become more agile by reorienting your business activities in real-time
This refers to a retailer’s ability to put the insights gleaned from analytics into action. Incorporating technology such as real-time analytics and complementing them with the ability to tailor process workflows will provide the competitive advantage needed to deliver top-notch shopper experiences.
Aberdeen Group has been an international research partner of Nebula since 2010. With thousands of research documents, growing daily, Aberdeen’s research library helps enterprises and service providers discover the priorities and strategies of best-in-class enterprises.
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