BMC's second big data survey reveals that the relationship between big data and retail is evolving rapidly. The findings in this report will help retailers at all stages of big data adoption either get started, decide where to place priorities, or compare their progress with what others in the industry are doing.
Digital technology now allows retailers to take customer
service and engagement to a scale never before possible. Everyone knows that
this is important but the question has always been how do we do it well and consistently? Here's a white paper that will help.
If Act I of multi-channel retail was brick and mortar moving
aggressively into digital
shopper engagement and ecommerce channels, then Act II must be the
phenomena of eretailers like UK-based Kiddicare buying 10 vacant Best
Buy stores in Britain to open physical stores.
Mobile is making it harder to capture shopper’s attention in
lots of ways. The challenge is particularly acute at the checkout, where wait
time is more often spent looking at a small screen than the racks of store
merchandise, magazines, and candy these days.
Walmart’s big investment in ecommerce is paying dividends:
ecommerce sales are up and the enterprise-wide technology platforms will give
both shoppers and buyers access to real-time trend information on products.
Foodie.fm, a cloud-based,
personalized grocery shopping platform, was brought to our attention because of how closely they aligned their work with Facebook. We were
impressed with how Foodie is building new digital connections between shoppers
and retailers. The platform currently operates
in Finland and England where people can access it via the internet or a mobile
app. Here, we interview Kalle Koutajoki,
co-founder and CEO of Digital Foodie Ltd., the parent company of Foodie.fm, so
that you can get a better picture of their vision and delivery.
Raley’s social marketing twist on the venerable loyalty program is
worth a look. “Something Extra” eliminates the card and personalizes shopper
rewards – then it hooks up with social marketing via “Try It.” The move to social marketing gives Raley’s a
scalable way to both expand their strong community of shoppers and market to
What started out as a project to replace traditional paper
signs with iPads changed significantly when the design team put the target shopper,
young women who live on online, at the center of the design process. It forced
them to confront this question: “Why even go to a physical store anymore?”
Apple recently won a patent to protect their retail store
design, and Denise Lee Yohn quickly grasped the significance of this new pivot
point: It completely changes the way we think about physical stores, how we
differentiate them, and the role that differentiation plays. Here’s the provocative suggestion she offers retailers in
her recent Chain Store Age article: “What if we considered our stores as products?”
Changes are on the horizon for car
sales. A recent Wall Street Journal article describes the current status this
way: “dealers are still learning how digitally savvy customers behave.”
Ironically, new car buyers spent 12.5% more time negotiating deals in 2012 than
they did in 2010, even though they averaged 18 hours of online research before
the purchase – why?
Can we get more specific about
what Big Data is good for? Victor
Mayer-Schonberger and Kenneth Cukier’s new book is a big step in the right
direction, but the quote that Evgeny Morozov highlighted in his WSJ review made
me think about correlation and causation.
Who wins the shopper and what’s the marketing value of social media vs. traditional
online sources of information? New
research from Radius Global Market Research suggests there’s no single answer,
but it does blow away some of the haze. Overall, understanding specifically how your
current and prospective customers are using information sources, will help you meet
them where they are.
For food retailers who are used to “drafting” behind CPG
marketing efforts, the generally low level of CPG enthusiasm/investment in
digital shopper marketing can be confusing.
Currently, only a few grocery retailers see what is happening and are
using their own marketing dollars to fund highly-efficient digital shopper
marketing, but retailers’ objectives are quite different than those of their
retailers who are interested in doing more with digital marketing, here are two key