Retailers Must Use Consumer Data Effectively

Retailers must leverage the wealth of customer-generated data to keep pace with the constantly changing customer requirements, says a paper by Frost & Sullivan, a market research company. ‘Elevating the Customer Journey in the Retail Industry’ says that by harvesting data with the right technology, retailers can gain insights into what works and what does not in their internal and customer-facing operations. “The first step is to ensure that customers have an easy way to provide that input,” says Alpa Shah, global vice-president of customer experience at Frost & Sullivan. Customer analytics can give insight into customer behaviour to improve sales opportunities and customer loyalty, boost customer satisfaction ratings, turn instant satisfaction ratings into a longer-term strategy for emotional engagement, build brand connections, and personalize content to each customer.