News Feature | February 5, 2014

A Look At Consumer Trends Influencing The Omni-Channel Retail Experience

Source: Retail Solutions Online

By Kara Murphy, contributing writer, Integrated Solutions For Retailers

Customer data analysis can be used in a myriad of ways to make shopping experience better for customers

Merchandising and marketing are vital to successful modern retailing. Customer data analysis lies at the heart of making those decisions precise.  By using technology and software, retailers can understand each step a consumer takes on the path to a purchase.  Retailers can use collected data to make decisions about everything from crafting personalized offers to purchase decisions on sizes and colors.

Data analysis used to be a tool that only the retail giants could access. But now smaller companies can also gather data on their customers, said Matt Pillar, the editor-in-chief for Integrated Solutions for Retailers. “A groundswell of upstart cloud-based BI software vendors have changed the economics of analytics, giving even small retailers the opportunity to gain better visibility into the recesses of every facet of the business,” he wrote in a recent article.

Lori Schafer, the retail executive advisor for business analytics company SAS, said customer data analysis can be used to heavily influence the omni-channel retail experience. SAS, which is the largest independent vendor in the business intelligence market, counts retail powerhouses such as Ann Taylor, AutoZone, Belk, DSW, Hallmark, Kohl’s Macy’s, and Nestle among its clients.

Consumer trends related to data analysis include:

  • BYOD (Bring your own device). It has become standard for consumers to use a smartphone to gather product and pricing information as they shop.
  • On-the-go check out. Traditional in-store point-of-sale (POS) systems are giving way to mobile checkout systems. Instead of waiting in line at a cash register, customers can check out using their own device or through a sales associate on the store floor carrying a tablet.
  • In-store beaconing. Displays outfitted with electronic sensors use consumers’ phone signals to count the number of shoppers who walk past a particular display, how long they spend at that display, and how frequently a customer returns to a particular store.
  • In-store Wi-Fi. Retailers can offer customized, localized promotions and incentives directly to individuals with free in-store Wi-Fi.

The Ten Commandments Of Omni-Channel Retailing, Revisisted

Want to publish your opinion?
Contact us to become part of our Editorial Community.