THE POWER OF DATA
Back in the corner store, the proprietor knew each customer through conversation—an ongoing relationship built from regular interaction. Today, big data helps retailers answer the customer’s question, “Do you know me?”, all while facilitating interaction with each shopper. Big data in supermarket retail goes far beyond understanding past
purchases; sophisticated customer engagement platforms understand brand
loyalty, discount propensities, purchase frequency and far, far more. Leading
solutions calculate hundreds of attribute scores for each customer, updated
with every purchase.
But building customer relationships requires even more. One area that is
coming on fast is personalized health and wellness. By opting into the retailer’s
program and self-identifying health conditions, food allergies and preferences,
the customer can be guided to specific products across the store beneficial
to them individually. This virtual shopping assistant can help customers when
shopping both inside and outside the store, including guiding the shopper to
the next beneficial product along the aisle.
With 60% of people in the U.S. having one or more chronic health
conditions, according to a RAND study, the ability of the supermarket retailer
to help their customers improve their well-being represents a powerful way to
build loyalty and ongoing relationships.
THE POWER OF LOOKING FORWARD,
Beyond the legacy customer centric solutions, there are many companies that state they are able to provide personalization to retailers. But all personalization is not the same. Nearly all capability providers use past-purchase data to power up
recommendations to the shopper today. And while past
behavior is important, there is far more to true customer
relevancy. Imagine the customer who has just adopted a dog;
instantly, dog food is now relevant but the marketer would not
know that from past purchases.
Leading capabilities, though, have a real-time view to
customer intent: What items were just searched for, what
product was just added to the shopping list, what coupon
was just clipped and even the shopper’s real-time location in
the store. This view of purchase intent allows marketers (with
the right capabilities) to respond in real time, suggesting a dog
food promotion to the shopper who just added dog food to
their shopping list.
To do this requires deep integration into a retailer’s
digital touchpoints and a data architecture that supports
understanding and responding in real-time. Many retailers
have cobbled together disparate digital capabilities over time
as they have been pulled into the digital world. Making the
situation worse, these capability ‘silos’ prevent the retailer
from providing a cohesive, omnichannel digital experience
to shoppers. The good news: Retailers can today migrate
onto a comprehensive, end-to-end digital platform, purposely
built for regional retailers and supporting promotion creation
and management, sophisticated personalization and digital
touchpoints all brought together into a powerful ecosystem.