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Customers are increasingly seeking out a personalised shopping experience. Data analytics helps retailers to provide this — and increase sales.
Traditional solutions won’t work.
Today, capturing customers is about far more than simply putting a ‘SALE’ sign in the window. To be successful, retailers must deliver a more personalised experience that targets customers’ individual wants and needs.
Traditional solutions don’t make enough of the data that retailers have at their disposal. This means that stores don’t know who each customer is or what they’re looking to purchase until they pay at the till — and this is often too late to make an impact on their buying choices.
The power of data for personalisation.
Using data analytics to gain a more comprehensive view of customers is a far better way to drive business insight and increase sales. With better understanding of each customer, retailers can identify an individuals’ purchase histories and behaviours the moment they enter the store. This information can then be used in real-time with targeted offers and personalised communications.
Plus, data analytics will help retailers manage information from inventory, third party services, business partners and social media channels — giving a comprehensive overview of exactly where the business is at, and how it can improve.
Discover more about how digital technology is transforming retail, with our collection of infographics. See the fifth in the series, below, to find out how using data analytics can drive business insight.