The retail industry is in a state of flux, and retailers need to evolve to meet the needs of their shoppers. In this content article, I’ll take you through 3 ways that retailers can better understand their shoppers and ultimately provide them with what they’re looking for!
If you are an executive at a retail company or are simply interested in how the retail environment is changing, then read on. You may find these three concepts interesting or useful for your business.
1. Ask customers for feedback
Asking customers for feedback is the simplest way to learn more about your shoppers. Since shoppers tend to be very vocal with their complaints, asking them what they like and don’t like can give you a lot of insight into how they feel about your brand and product offerings.
Using customer review platforms such as Yelp, Google Reviews, and Trustpilot can be another useful tool for taking the pulse of your retail company. Brands that excel at gathering good reviews and encouraging satisfied customers to leave positive comments to prosper on these networks. You may even find negative or critical reviews helpful if they are constructive because that means there are opportunities for improvement!
Not getting enough reviews? Consider implementing a proximity marketing solution like Alertiee Pulse that automatically prompts customers for reviews when they exit a location. Research suggests that upwards of 70% of customers will leave a review of a retail location when prompted upon exit.
2. Analyse customer behaviour
In the e-commerce space, assessing shoppers payment behaviour is becoming increasingly popular in retail analytics with companies like Amazon, Google, and Apple generating reports on our buying behaviours. The brick-and-mortar stores can learn from e-commerce and by tracking the path people take through a store, along with what they purchase before leaving, you can gain awareness of how your customers interact with your brand and products. Consumer intelligence solutions make this research much easier by automating the collection of location-based data and report generation. Based on this data, retailers can better understand what demographics visit specific locations at specific times of the day or certain seasons of the year and use that information to design effective retail strategies.
3. Adopt modern segmentation solutions
Last but certainly not least, retailers can use modern segmentation solutions to learn more about their customers. Segmentation is all about applying data analytics and predictive modelling to create actionable business insights that allow you to understand your customers better. There are some great tools on the market that will give you access to consumer profiles based on demographics (like age, gender, income level), behaviours (what they like, how often they shop), and context (time of day or location).
An example of this would be knowing which products are most popular with young families versus retirees in any given location throughout the day so you can design an effective sales strategy for each demographic. This way sales staff can focus their efforts where they’ll have the biggest impact. Alertiee Mind automatically detects and reports customer attributes that allow retailers to learn crucial details about who is entering and transacting at their locations. This data allows them to make changes that increase conversion rates and boost consumer engagement.
Retailers shouldn’t have to guess about their customers. Using these methods and recent innovations in AI and IoT, retailers can better understand their customers and provide them with targeted products and services.
If you enjoyed this post: 3 Ways to better understand your retail shoppers, be sure to check out our recent IoT and AI pilot with Adnams here: AI and IoT for retailers how physical stores can enhance customer experience
Proven benefits of Alertiee technology
Alertiee will help you realise missing sales opportunities, stores’ performance based on conversion rate, and stores’ sales hotspots areas.
We support and guide you through how you best convert both inside and outside traffic opportunities by supplying you with options around service risks and how to serve your existing and potential new customers best.
Alertiee will help you to provide a harmonious customer experience across your omnichannel business. Our technology enables customer experience, marketing and retail teams to close the gap between customers’ digital experience and their physical experience.