This is an interesting article on how Mobile Location Analytics (aka Beacon Technology) is helping brick-and-mortar retailers compete effectively with online retailers by capturing customer behavior near and in the store.
You can read the article below, however, the question for you is how will you incorporate this new data source once it is provided to you by the retailer?
Will your rigid, difficult to modify, DSR incorporate this data stream in a timely manner – or the usual months or years that data model changes sometimes take in a data warehouse environment.
Contact us today to discover how Vortisieze analytics can rapidly adapt to new, sometimes ad hoc (think your latest spreadsheet creation), data sources.
Source: Leveling the Playing Field: Mobile Location Analytics
Recent, well respected, retail analysis reports focused on back-to-school campaigns, the second busiest retail period of the year, shows new and emerging trends in customer shopping behavior. These trends will certainly change how retailers approach this sales period.
Some very interesting trends have surfaced and we’ll look at a few below that are gleaned from the annual Deloitte “Back-to-School” survey.
What lessons can CPG brand marketers learn from emerging customer shopping behaviors and expectations? Many, to be sure, so let’s take a look at the trends that can also impact CPG going forward.
- Shoppers who are mobile savvy may be doing more research on the beach before hitting the stores.
- Consumers are no longer exclusively driven by discounts.
- Consumers will be “mission-driven” and making most of the purchasing decisions prior to the store, with digital devices in greater play.
- This year shows a 6-percent jump in smartphone owners using devices for shopping, with 80 percent of shoppers taking that approach.
- More than half, 51 percent, of shoppers are not familiar with in-store beacon technology, and 32 percent said they had no plans to use it.
What jumps out of this survey how the use of technology, especially mobile, in shopping is becoming the norm. 80% of shoppers using mobile devices for shopping will only increase as Millennials marry and begin having children.
As retailers continue to adopt technology to market to the individual shopper (e.g. beacon technology) new streams of data are now available to analyze by CPG brands for shaping marketing campaigns. This new data breaks the existing DSRs that many CPG companies use to analyze retail data. It takes, literally, months or years to incorporate new data sets into a rigid DSR data warehouse.
Big data thrives on new, different and unstructured data – because of its design. That’s why Big Data is such a Big Deal in CPG marketing.
Contact us today for a complimentary consultation on how big data can become your big deal.
Source: Back-to-School: Reports reveal what’s hot, what’s not and consumer trends