Read about how we have helped our clients in the retail sector advance ahead.
A Preview to What Analytics Can Do
We work with leading retail conglomerates, and have delivered for several advanced analytics projects that go beyond marketing analytics. Retailers have some of the richest data available on consumers. By carefully analysing the purchase patterns of individual customers, retailers can uncover accurate insights into the context of their lives and understand the needs and aspirations of customers.
However, to use such insights to create 'offers that customers cannot refuse', retailer need to partner up with other organisations that are involved in whole shopping experience, such as brands who need customers to buy their products, and credit card issuers who want customers to put the purchases on their cards. For example, credit card companies can gain healthy margins from large ticket purchases, especially if the consumer incur interests while paying off the purchase in instalments. However, credit card companies do not know which are the brands and product categories that each customer loves to spend on.
By combining customer insights and marketing budgets, the retailer and credit card company can create offers on big ticket size items that are highly targeted and more attractive than any one party can produce independently. In the end, all parties including the customer will stand to gain.