🚨🔬New Bluecore data finds that retailers with the highest shopper identification rates see 53% more repeat purchases vs. brands with lower identification rates. 🔬🚨 For most retailers, this year’s profits will come from the customers they already know. So this new data is a significant indicator for how marketers can simultaneously build short-term revenue lift and long-term profitability. This is one of many new findings from the industry’s first-of-its-kind Customer Growth Benchmarks report. Instead of capturing the data that is easy to collect (i.e. channel metrics such as open rates, click rates), Bluecore’s annual benchmarks report focuses on the *critical benchmarks that are most aligned with business health.* 🤯 Our report dives into key customer-centric metrics for retailers across the lifecycle, and across retail categories. Each category is benchmarked separately so that retail leaders are able to compare their own performance with a relevant peer set. While every brand has unique trends, Bluecore finds that retailers focused on the metrics and best practices that drive customer movement have higher performance across the customer lifecycle. Check out the full report to see how your brand stacks up against your peers for: 🔹Shopper identification rates 🔹Retention rates 🔹Repeat purchases 🔹Reactivation 🔹and more Read more: https://lnkd.in/eecebNgw
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Retail marketers: Are you struggling to retain customers and drive long-term growth? New data from Bluecore shows how customer-led strategies are helping retailers outperform their peers. Bluecore's 2024 Customer Growth Benchmarks Report reveals that retailers focused on customer movement strategies see an average three-year retention rate of 59%, while those with a channel-focus only retain 22%. #retailstrategy #customermovement #customerledgrowth
🚨🔬New Bluecore data finds that retailers with the highest shopper identification rates see 53% more repeat purchases vs. brands with lower identification rates. 🔬🚨 For most retailers, this year’s profits will come from the customers they already know. So this new data is a significant indicator for how marketers can simultaneously build short-term revenue lift and long-term profitability. This is one of many new findings from the industry’s first-of-its-kind Customer Growth Benchmarks report. Instead of capturing the data that is easy to collect (i.e. channel metrics such as open rates, click rates), Bluecore’s annual benchmarks report focuses on the *critical benchmarks that are most aligned with business health.* 🤯 Our report dives into key customer-centric metrics for retailers across the lifecycle, and across retail categories. Each category is benchmarked separately so that retail leaders are able to compare their own performance with a relevant peer set. While every brand has unique trends, Bluecore finds that retailers focused on the metrics and best practices that drive customer movement have higher performance across the customer lifecycle. Check out the full report to see how your brand stacks up against your peers for: 🔹Shopper identification rates 🔹Retention rates 🔹Repeat purchases 🔹Reactivation 🔹and more Read more: https://lnkd.in/eecebNgw
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Bluecore personifies personalisation with the launch of its Customer Movement table which is based on the customer-centric view specific to retail-specific cohorts to drive the transformative change retail businesses need. 3 key stats that matters for retailers: 1. 🚨🔬More Identification = More Repeat Purchases. Retailers with the highest shopper identification rates see 53% more repeat purchases vs. brands with lower identification rates. 🔬🚨 2. The One-and-done epidemic doesn’t discriminate across the different verticals (like Apparel, Health & Beauty, Home Goods etc.). Our data shows that 74% of a retailer’s customers are one-and-done, but once a customer buys twice, the likelihood they buy a third time goes up 95%. Across Bluecore’s customer base, 35% of sales come from the top quartile of customers. 3. Reactivated buyers are hidden gems. Compared with new buyers, their purchase frequency is 7.7% higher and they spend 12.7% more. Reactivating customers also costs less than activating new ones. Check out Bluecore latest benchmarks report to compare where your brand stands: https://bluecre.co/3w8EbY2
🚨🔬New Bluecore data finds that retailers with the highest shopper identification rates see 53% more repeat purchases vs. brands with lower identification rates. 🔬🚨 For most retailers, this year’s profits will come from the customers they already know. So this new data is a significant indicator for how marketers can simultaneously build short-term revenue lift and long-term profitability. This is one of many new findings from the industry’s first-of-its-kind Customer Growth Benchmarks report. Instead of capturing the data that is easy to collect (i.e. channel metrics such as open rates, click rates), Bluecore’s annual benchmarks report focuses on the *critical benchmarks that are most aligned with business health.* 🤯 Our report dives into key customer-centric metrics for retailers across the lifecycle, and across retail categories. Each category is benchmarked separately so that retail leaders are able to compare their own performance with a relevant peer set. While every brand has unique trends, Bluecore finds that retailers focused on the metrics and best practices that drive customer movement have higher performance across the customer lifecycle. Check out the full report to see how your brand stacks up against your peers for: 🔹Shopper identification rates 🔹Retention rates 🔹Repeat purchases 🔹Reactivation 🔹and more Read more: https://lnkd.in/eecebNgw
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The moment you've all been waiting for 👀.... Bluecore's 2024 Customer Growth Benchmarks Report is here! See how your brand stacks up against your peers wrt: 🔹Shopper identification rates 🔹Retention rates 🔹Repeat purchases 🔹Reactivation 🔹and more https://lnkd.in/eecebNgw 🚀 #retailing #digital #marketing #performancemarketing #retention #ecommerce #dtc
🚨🔬New Bluecore data finds that retailers with the highest shopper identification rates see 53% more repeat purchases vs. brands with lower identification rates. 🔬🚨 For most retailers, this year’s profits will come from the customers they already know. So this new data is a significant indicator for how marketers can simultaneously build short-term revenue lift and long-term profitability. This is one of many new findings from the industry’s first-of-its-kind Customer Growth Benchmarks report. Instead of capturing the data that is easy to collect (i.e. channel metrics such as open rates, click rates), Bluecore’s annual benchmarks report focuses on the *critical benchmarks that are most aligned with business health.* 🤯 Our report dives into key customer-centric metrics for retailers across the lifecycle, and across retail categories. Each category is benchmarked separately so that retail leaders are able to compare their own performance with a relevant peer set. While every brand has unique trends, Bluecore finds that retailers focused on the metrics and best practices that drive customer movement have higher performance across the customer lifecycle. Check out the full report to see how your brand stacks up against your peers for: 🔹Shopper identification rates 🔹Retention rates 🔹Repeat purchases 🔹Reactivation 🔹and more Read more: https://lnkd.in/eecebNgw
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Looking to better understand how your performance, sales and market share compares to your competitors within the retail and e-commerce space? Are you ready to make data-driven decisions that help attract and retain customers while boosting revenue? Envestnet | Yodlee’s SpendSignals is delivering deep granular insights to customers. Retailers, market researchers, and business leaders can connect to its industry leading purchase data, covering 1,600+ merchants and trillions in spending to unlock actionable insights such as: 📈 Market share, retailer specific sales at the zip code resolution, CLTV, affinities across 60+industries 🔎 Competitive analysis of customer lifetime value and track affinities across categories 🔒 Understanding consumers’ purchasing habits, affinities and patterns to drive sales, audience engagement and shopper loyalty 📊 Track macro and hyper-nuanced trends within your retail space and grow sales through data-driven decisions on customer loyalty, spend patterns, leakage and retention, spend/customer, online vs. in store sales, and so much more Check out these real-time consumer spending trends and much more, all delivered via ThoughtSpot Embedded Analytics in SpendSignals: https://lnkd.in/ejzeGZi9
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Check out how Envestnet | Yodlee has built SpendSignals to provide incredibly intuitive and actionable analytics on consumer spending trends to their partners using ThoughtSpot Embedded!
Looking to better understand how your performance, sales and market share compares to your competitors within the retail and e-commerce space? Are you ready to make data-driven decisions that help attract and retain customers while boosting revenue? Envestnet | Yodlee’s SpendSignals is delivering deep granular insights to customers. Retailers, market researchers, and business leaders can connect to its industry leading purchase data, covering 1,600+ merchants and trillions in spending to unlock actionable insights such as: 📈 Market share, retailer specific sales at the zip code resolution, CLTV, affinities across 60+industries 🔎 Competitive analysis of customer lifetime value and track affinities across categories 🔒 Understanding consumers’ purchasing habits, affinities and patterns to drive sales, audience engagement and shopper loyalty 📊 Track macro and hyper-nuanced trends within your retail space and grow sales through data-driven decisions on customer loyalty, spend patterns, leakage and retention, spend/customer, online vs. in store sales, and so much more Check out these real-time consumer spending trends and much more, all delivered via ThoughtSpot Embedded Analytics in SpendSignals: https://lnkd.in/ejzeGZi9
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SMB Executive at NielsenIQ | Market Research | Retail Intelligence | Business Development & Intelligence | Analyst | MS Excel & Power BI
Growth is difficult to find in today’s highly fragmented and competitive landscape, so many retailers are turning to innovative ways to grow their businesses. One effective tactic involves leveraging customer loyalty data through collaborative programs with supplier partners. 💪 Customer loyalty program data, comprising voluntary demographic and shopping behavior details collected when customers use their loyalty cards, is pivotal. In return for this data, customers enjoy incentives like exclusive offers and rewards, while retailers gain crucial insights into their shopping habits, aiming to boost their share of wallet with these customers. 🚀 Collaborative efforts typically start with the retailer, often partnering with third-party data providers like NielsenIQ to establish an exclusive insights environment for suppliers. This enriched dataset allows suppliers to optimize budgets, target specific customer segments, track category trends, understand brand interactions, analyze cross-category behaviors, and measure product performance. 📈 For suppliers, investing in these programs enhances sales potential and demonstrates a strong commitment to the partnership. The data shared varies but commonly includes supply chain and customer insights. Top consumer intelligence firms offer insights covering assortment, pricing, personalization, and retail media, crucial for effective collaborations. 📉 Launching such programs can be complex, prompting many retailers to enlist global analytics leaders like NielsenIQ for a streamlined, efficient process. Collaboration programs benefit retailers by enhancing business performance, brand awareness, customer engagement, and insights sharing with partners, leading to increased share of wallet and revenue. 💹 #business #businessintelligence #data #analytics #retail
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Technology Leader | Product Strategist | Product & Engineering Management | Expertise In Retail Domain | Self Service Checkout & POS Expert | Senior Software Consultant |
🛒💡 Unlocking Customer Preferences: Service vs. Discounts 💡🛍️ In the dynamic realm of retail, understanding customer preferences is the key to unlocking success. Let's delve into the intriguing debate between service and discounts, backed by data-driven insights: 🤝 The Power of Exceptional Service: - 🌟 Personalized Experiences: Today's consumers crave personalized interactions and exceptional service that goes beyond transactions. - 🛍️ Building Loyalty: Providing exemplary service fosters long-term relationships with customers, leading to repeat purchases and positive word-of-mouth recommendations. 💸 The Allure of Discounts: - 💰 Price Sensitivity: In a competitive market, discounts and promotions often attract price-conscious shoppers seeking immediate savings. - 🎁 Promotional Incentives: Limited-time offers and discounts can stimulate impulse purchases and drive foot traffic to retail establishments. 📊 Data-Driven Insights: - 📈 Analyzing Consumer Behavior: Data analytics offer valuable insights into customer preferences, helping retailers tailor their offerings to meet evolving demands. - 📊 Segmentation Strategies: By segmenting their customer base, retailers can identify which demographic cohorts prioritize service over discounts and vice versa, enabling targeted marketing efforts. 🌟 Striking the Perfect Balance: - 🎯 Customer-Centric Approach: Successful retailers strive to strike a balance between offering exceptional service and enticing discounts, catering to the diverse needs and preferences of their clientele. - 🛒 Creating Value: Ultimately, it's about creating value for customers through a seamless blend of superior service, competitive pricing, and memorable shopping experiences. 🗣️ Join the Conversation: - 💬 Share Your Insights: What factors do you believe influence customer preferences between service and discounts? - 🛍️ Balancing Act: Let's explore innovative strategies to provide unparalleled service while leveraging the allure of discounts to drive sales. - 📊 Harness Data for Success: Embrace data-driven decision-making to understand and anticipate customer preferences, empowering your retail business for sustainable growth. #CustomerPreferences #ServiceVsDiscounts #RetailInsights #NCRVoyix 🛒🤝
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As Head of Technology & Operations I help businesses install people counting sensors to drive intelligent optimisation.
🚀 Unlocking the Power of People Counting Data in Retail 🚀 In today’s ever-evolving retail landscape, leveraging data has become essential for optimizing sales performance. One potent tool in the retailer's arsenal that often goes unnoticed is people counting data. 📊 People counting data, which tracks the number of visitors to a store at any given time, can unlock a treasure trove of insights that drive retail sales to new heights. When analyzed correctly, this seemingly simple data can: 🔍 Understand Customer Behavior: Gain insights into peak shopping times and customer flow, helping tailor the shopping experience to meet customer needs. 👥 Optimize Staff Allocation: Ensure that staffing levels are aligned with busy periods, improving customer service and operational efficiency. 📈 Analyze Marketing Effectiveness: Measure the impact of marketing campaigns by correlating foot traffic data with promotional periods. Yet, many retailers are unaware of how to harness this data or are unsure of its potential benefits. To truly capitalize on people counting data, it’s crucial to move beyond the numbers and unlock their true potential. By doing so, retailers can create compelling retail experiences that not only attract but also retain customers, driving sales performance to new heights. 🌟 Is your retail business leveraging the power of people counting data? If not, it’s time to start! https://lnkd.in/eU5QirbB #RetailAnalytics #DataDrivenDecisions #CustomerExperience #RetailInnovation #SalesPerformance #PeopleCounting
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Retailers are struggling with reach more than ever. Acquisition costs are up. Conversion rates are down. And third-party cookies are on their way out, stripping away many retailers’ go-to tool for tracking shoppers. What’s a high-growth retailer to do? Our latest guide is a dive deep into all things shopper identification. This modern solution equips retailers to reach every shopper who walks through their virtual door. You can’t move someone through the lifecycle without first knowing who they are. Strong shopper identification expands reach, unlocks signal-based strategies, and drives a 4x to 12x increase in retention for the average retailer. Check out the guide to learn: 🔹 Common signs of decreasing reach 🔹 The difference between identity resolution and identity recognition 🔹 How shopper identification data is captured online 🔹 The power of a first-party data network 🔹 Three shopper identification strategies 🔹 and much more Plus, find out exactly how you can assess your shopper identification data and start the journey toward customer movement today. Grab the guide here: https://lnkd.in/eWGHFF32
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We continue to answer the common question: "What are some of the top use-cases for Data Insights in Retail?" Today we focus on.... 🛍️ Optimized Product Recommendations: Want to boost your eCommerce revenue? Dive into your data! Analyze customer behavior to offer targeted product recommendations that drive upsells and cross-sells. It's all about giving customers what they want before they even know they want it! #ecommerce #DataAnalytics #RetailStrategy
