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Smart retail/e-commerce companies are increasing revenue and profitability with customer data. Here's the inside scoop: 5 mind-blowing ways companies use this data: 1. Predicting your next move ↳ Predict what customer's will buy next to recommend the right product at the right time. 🔮 Amazon's "Frequently Bought Together" "Customers who bought this also bought.." features ↳ Increase sales by showing customers what they want before they know it. (AOV ↗ | CLV ↗) 2. Keeping you coming back for more ↳ Improve customer lifetime value and repeat purchases by proactively understanding their behaviour & preferences ♻️ SEPHORA's Beauty Insider program with personlized rewards! ↳ Tailor your approach to keep customers coming back for more.   (CLV ↗ | NRR ↗) 3. Behavior-based segmentation ↳ Pinpoints ready-to-buy and at-risk customers, enabling the creation of targeted and conversion-driven experiences 🎯 Target's Emails that match what you've browsing on the online store or in your cart ↳ Identify high-value and at-risk customers for targeted marketing campaigns. (NPS ↗ | Customer engagement rate ↗ | Churn rate ↘) 4. Dynamic pricing optimization ↳ Price items dynamically based on popularity, supply, offers, search behaviour and various internal/external factors ⚖️ Wayfair's real-time price adjustments based on user history, discounts and more... ↳ Maximize profits by adjusting prices based on demand, competition, and various other internal as well as external factors. (AOV ↗ | Conversion rate ↗ | Profit margins ↗) 5. Demand-driven inventory management    ↳ Understand customer and market demands to efficiently manage inventory by aligning audiences with offers that lead to more likely purchases. 📦 Zara's lightning-fast stock turnover isn't luck - it's data-driven fashion at its finest! ↳ Align your stock with customer demand forecasting to reduce waste and boost sales. (Inventory turnover ↗ | Stockout rate | Sell-through rate ↗) __ Just imagine implementing this strategies in your business to achieve rapid growth like all this big brands, yes - it's possible! ↗↗↗ P.S. Curious about how all this can work for your business? Just like 👍 this post and I'll share our exclusive guide on how companies in your niche are leveraging this tech and how you can do it too!

A few #retailers, which have successfully implemented robust #data platforms and processes with data specialist partner Insight Consulting, have shared their #experiences on how to effectively manage #BlackFriday campaigns. Key #themes emerge, each with the effective #management of data front and centre.

A few #retailers, which have successfully implemented robust #data platforms and processes with data specialist partner Insight Consulting, have shared their #experiences on how to effectively manage #BlackFriday campaigns. Key #themes emerge, each with the effective #management of data front and centre.

A few #retailers, which have successfully implemented robust #data platforms and processes with data specialist partner Insight Consulting, have shared their #experiences on how to effectively manage #BlackFriday campaigns. Key #themes emerge, each with the effective #management of data front and centre.

A few #retailers, which have successfully implemented robust #data platforms and processes with data specialist partner Insight Consulting, have shared their #experiences on how to effectively manage #BlackFriday campaigns. Key #themes emerge, each with the effective #management of data front and centre.

First-party data about its customers is the new revenue ocean for every retailer. BCG report confirms what retail leaders, and X5 among them, know and use for years - this revenue comes to retailer in several streams: increasing loyalty through smart personalization, new revenue from retail media, customer data analytics unrivalled by any analytic agency

𝐓𝐡𝐞 𝐏𝐨𝐰𝐞𝐫 𝐨𝐟 𝐃𝐚𝐭𝐚-𝐃𝐫𝐢𝐯𝐞𝐧 𝐑𝐞𝐭𝐚𝐢𝐥: 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐭𝐡𝐚𝐭 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐑𝐞𝐚𝐥-𝐓𝐢𝐦𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐬 𝐟𝐨𝐫 𝐒𝐦𝐚𝐫𝐭𝐞𝐫 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧𝐬 📊 Data-driven retail leverages real-time analytics to monitor customer behavior, sales trends, and inventory levels. With immediate insights, retailers can make faster, more informed decisions on promotions, pricing, and stock management, ensuring they stay ahead of customer demand. 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥𝐢𝐳𝐞𝐝 𝐒𝐡𝐨𝐩𝐩𝐢𝐧𝐠 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐬 🎯 By analyzing customer data, retailers can create personalized shopping experiences tailored to individual preferences. AI-powered data insights allow for targeted product recommendations, personalized offers, and dynamic content, enhancing customer satisfaction and driving sales. 𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐢𝐧𝐠 𝐏𝐫𝐢𝐜𝐢𝐧𝐠 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 💵 Data-driven retail helps businesses implement dynamic pricing strategies, adjusting prices based on factors like demand, competitor pricing, and market conditions. This real-time pricing optimization ensures competitiveness and maximizes profitability without sacrificing customer satisfaction. 𝐈𝐦𝐩𝐫𝐨𝐯𝐞𝐝 𝐈𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭𝐢𝐧𝐠 📦 By utilizing predictive analytics, retailers can optimize their inventory management through accurate demand forecasting. Data-driven insights help reduce overstock and stockouts, ensuring the right products are available at the right time, improving supply chain efficiency. 𝐁𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠 𝐑𝐎𝐈 𝐰𝐢𝐭𝐡 𝐃𝐚𝐭𝐚 📈 Retailers can track the performance of marketing campaigns through data analytics to see which strategies drive engagement and conversions. This helps allocate marketing spend more effectively, refine campaigns in real-time, and maximize return on investment. 💬 𝐇𝐨𝐰 𝐚𝐫𝐞 𝐲𝐨𝐮 𝐮𝐬𝐢𝐧𝐠 𝐝𝐚𝐭𝐚-𝐝𝐫𝐢𝐯𝐞𝐧 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 𝐭𝐨 𝐞𝐧𝐡𝐚𝐧𝐜𝐞 𝐲𝐨𝐮𝐫 𝐫𝐞𝐭𝐚𝐢𝐥 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬? Share your insights below! 👇 #GOYALLO #yalloretail #DataDrivenRetail #RetailAnalytics #PersonalizedShopping #DynamicPricing #PredictiveAnalytics #InventoryOptimization #MarketingROI

20% of your customers are likely to generate 80% of your future revenue 😲 Acquiring new customers is expensive for any business. When you spend heavily on sales and marketing to meet revenue targets, profit margins shrink, diverting funds that could be better used elsewhere if you were better at getting repeat business from existing customers 😬 Fortunately, with retail analytics, you can identify exactly how much you're spending to acquire each customer, which of them are at risk of churning, and how much revenue you can expect from each individual over their lifetime with your brand. Our comprehensive guide on retail analytics covers this and more: https://lnkd.in/dJ9SwfYh

Do you know about Pareto’s principle (aka the 80/20 rule)? 🤔 It’s the idea that 20% of your customers could be driving 80% of your revenue! That’s why it’s key to focus on keeping those top customers happy. Retention is the name of the game—and with retail analytics, you can get laser-focused on which customers are worth the effort. Check out our guide to learn how to turn data into a customer retention machine 🔄📊.

🚀 How Black Friday 2024 Became a $74 Billion Data Masterpiece 🎯 Black Friday 2024 wasn’t just about discounts; it was a masterclass in leveraging data and technology to deliver personalized, seamless shopping experiences at scale. Let’s break it down! The Numbers That Made Headlines • 💻 U.S. online sales hit a record $10.8 billion (up 10.2% YoY, Adobe). • 🌎 Global online sales soared to $74.4 billion (up 5% YoY, Salesforce). • 📱 55% of purchases were made on mobile, totalling $5.9 billion. • ⏱ At its peak, sales reached $11.3 million per minute. The Data Behind the Success 1️⃣ Mobile-First Strategies: Over half of all purchases came from mobile devices. Retailers embraced mobile-first analytics to optimize navigation and checkouts for smaller screens. 2️⃣ AI-Powered Personalization: GenAI chatbot traffic grew by a staggering 1,800% YoY as shoppers relied on them for recommendations. 20% of U.S. consumers used chatbots to find deals, reshaping how we discover products. 3️⃣ Hyper-Personalized Discounts: • Toys: 27.8% off • Electronics: 27.4% off • TVs: 24.2% off Retailers used real-time analytics to predict demand and target deals where they mattered most. 4️⃣ Real-Time Data in Action: Both Adobe and Salesforce tracked billions of transactions and visits to dynamically adjust strategies. Takeaways for Data Analysts This wasn’t just a shopping event—it was a data-driven phenomenon. Here’s what we can learn: ✅ Real-Time Analytics: The ability to act on insights instantly is a game-changer, whether it’s predicting trends or optimizing campaigns. ✅ Mobile Analytics is Critical: With mobile dominating sales, understanding user behavior on mobile platforms is now essential. ✅ AI as a Competitive Edge: GenAI isn’t just a buzzword. From chatbots to personalization, AI-driven tools are transforming customer experiences. ✅ Data is the New Strategy: Every successful decision came down to interpreting data accurately and acting on it fast. Final Thought Black Friday 2024 wasn’t just about record-breaking sales; it showcased how data-driven decision-making and innovation can redefine an entire industry. 💡 What’s Next? As data professionals, how can we bring this level of precision and personalization to our own projects? Let’s discuss in the comments! 🔗 #CaseStudy #DataAnalytics #BlackFriday2024 #ECommerceTrends #DataDriven