An increasingly digital retail landscape is transforming the way consumers shop. Driven by convenience and an ability to get the best deal, many are moving online. This presents a challenge for bricks and mortar retailers: How do they drive digitally-savvy customers into stores?
One way of increasing footfall is to create a personalized shopping experience inside the store. This can be done using data about a customer’s preferences combined with their transaction history. But in order to gain greater insight into customers, retailers first need to understand the data they own, according to Andrea Sangalli, Associate Research Director, Retail Insights, IDC Europe.
In the past, retailers have concentrated on grouping customer profiles together based on similar characteristics. However, Sangalli says, far greater benefit can be achieved by approaching each consumer as an individual, using big data and analytics.