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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!

How do retailers eliminate sales leakage through customer journey mapping? At Gold Research, we're revolutionizing the way businesses understand shopper behavior. Our pioneering path-to-purchase journey mapping dives deep into the shopper's online and in-store journey to uncover critical decision points that might lead them away from their intended purchases. Our meticulous analysis quantifies each step's impact on purchase decisions, revealing how digital enhancements and shopper segment strategies can plug revenue leaks and boost ROI. 📊📈 But that's not all - our digital journey mapping tracks shoppers' exact online paths, uncovering a staggering 50% leakage rate to competitors. Our strategic e-commerce redesigns are closing these gaps, making businesses more competitive, especially against giants like Amazon.com. 🌐💪 With Gold Research, you can pinpoint exactly what causes revenue leaks and how to effectively reduce them, tailoring improvements to each shopper segment and product category for maximum impact. For more information visits https://lnkd.in/gxQNdqaA #shopperinsights #insights #consumerinsights #consumerresearch #customerinsights #customerjourney #consumerjourney #pathtopurchase #customerjourneymapping #journeymap #CX #P2P #marketresearch #b2bresearch #b2cresearch #personas #cxinsights #cx #customerexperience

How do retailers eliminate sales leakage through customer journey mapping? At Gold Research, we're revolutionizing the way businesses understand shopper behavior. Our pioneering path-to-purchase journey mapping dives deep into the shopper's online and in-store journey to uncover critical decision points that might lead them away from their intended purchases. Our meticulous analysis quantifies each step's impact on purchase decisions, revealing how digital enhancements and shopper segment strategies can plug revenue leaks and boost ROI. 📊📈 But that's not all - our digital journey mapping tracks shoppers' exact online paths, uncovering a staggering 50% leakage rate to competitors. Our strategic e-commerce redesigns are closing these gaps, making businesses more competitive, especially against giants like Amazon.com. 🌐💪 With Gold Research, you can pinpoint exactly what causes revenue leaks and how to effectively reduce them, tailoring improvements to each shopper segment and product category for maximum impact. For more information visits https://lnkd.in/gdiRxvTS #shopperinsights #insights #consumerinsights #consumerresearch #customerinsights #customerjourney #consumerjourney #pathtopurchase #customerjourneymapping #journeymap #CX #P2P #marketresearch #b2bresearch #b2cresearch #personas #cxinsights #cx #customerexperience

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

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 🔄📊.

When we talk about growth in eCommerce, most people immediately think of flashy marketing strategies, huge sales events, or influencer endorsements. These are all great tools, but - Real, sustainable growth comes from something far less glamorous—data. I’ve learned over the years that every big decision has to be data-driven. It’s tempting to follow trends, but you need hard facts to back your choices. Here’s how I approach it: - Customer Insights: Data tells you who your customers are, what they need, and how they behave. From browsing patterns to purchase histories, the answers are always in the data. - Personalization: Your customer doesn’t want a generic experience. Use data to personalize every touchpoint—emails, product recommendations, even discounts. This goes beyond just knowing their name. Know what matters to them. - Inventory Management: Data helps you anticipate demand and adjust supply. Overstocking eats up your cash flow, and understocking means lost sales. The sweet spot is found in data patterns—seasonal trends, customer demand cycles, and predictive analytics. - Customer Retention: It’s not always about getting new customers. Keeping the ones you have is more valuable. Data gives you insights into customer satisfaction, and most importantly, churn rates. - Optimization at Every Step: From your product pages to checkout processes, small optimizations based on data can make a massive difference. Every click, every bounce, every conversion rate—track it, analyze it, and improve it. In the world of eCommerce, gut feelings won’t get you far. Data will. It’s the difference between wishful thinking and measurable success. Focus on the numbers, and the growth will follow. 📈 #zopoxo #datadrivendecisions #ecommercesuccess

Retailers, listen up! 🛍 If you're looking to drive revenue growth, understanding your customers is key. That's where Fivetran and Redkite come in. By combining data from all your sources into one easy-to-understand dashboard, you'll get a complete view of your customer's behavior, preferences, and needs. #retail #dataintegration #customer360 Discover more: https://5tran.co/3RK98bZ

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

Unlocking Success: The Benefits of Customer Data Collection in Retail In the fast-paced world of retail, understanding your customers is paramount to staying ahead of the competition. One of the most effective tools at a retailer's disposal is the collection of customer data. Let's explore some of the key benefits that come with harnessing this valuable resource. 💫 Personalized Shopping Experiences: By collecting and analyzing customer data, retailers can gain insights into shoppers' preferences, behaviors, and purchasing habits. Armed with this information, they can tailor their offerings to meet the individual needs of each customer. Whether it's recommending products based on past purchases or sending personalized promotions, this level of customization enhances the overall shopping experience and fosters customer loyalty. 💫 Targeted Marketing Campaigns: Customer data allows retailers to segment their audience and create targeted marketing campaigns. By understanding the demographics, interests, and preferences of different customer segments, retailers can craft messages that resonate with specific groups. This not only increases the effectiveness of marketing efforts but also maximizes return on investment by ensuring that marketing resources are allocated where they are most likely to generate results. 💫 Improved Inventory Management: Efficient inventory management is crucial for retailers to minimize stock outs, reduce overstocking, and optimize profitability. Customer data provides valuable insights into product demand, seasonal trends, and buying patterns, enabling retailers to make informed decisions about inventory levels and assortment. By stocking the right products in the right quantities at the right times, retailers can ensure that they meet customer demand while minimizing costs and maximizing sales. 💫 Enhanced Customer Service: Customer data enables retailers to provide personalized and proactive customer service. By understanding each customer's preferences, purchase history, and interactions with the brand, retailers can anticipate their needs and address any issues or concerns before they arise. Whether it's offering product recommendations, resolving complaints, or providing support across multiple channels, this level of personalized service helps to build stronger relationships with customers and increase satisfaction and loyalty. 💫 Competitive Advantage: In today's competitive retail landscape, data-driven insights can provide a significant competitive advantage. By leveraging customer data to inform strategic decisions, retailers can stay ahead of changing market trends, identify new opportunities for growth, and differentiate themselves from competitors. Whether it's launching innovative products, optimizing pricing strategies, or expanding into new markets, the ability to harness the power of customer data can be a game-changer for retailers looking to succeed in today's dynamic marketplace.

With Bluecore’s #customeranalytics and Customer Movement Assessment, #retail and DTC brand leaders can prioritise strategies to deliver incremental #brandrevenue. https://lnkd.in/dUkifgvm