数据提供了一个选择，通过分析运动最大化效益(LePage, 2015)。零售品牌的数字营销就是一个例子。当消费者搜索特定的信息时，它为零售商提供了了解消费者偏好的机会，并通过可能的选项实现相同的要求。获取数据的主要原因是即时性。数据是基于特定标准连接零售商和消费者的一个因素。例如，一个需要一台机器的买家寻找最近的和高质量的零售商来交易这台机器。这种即时性可以是1小时，也可以是2天，也可以是1周，但不同客户的情况有所不同(Gustafsson, 2009)。
Retailing is one such segment that directly faces the customers and witnesses their interests towards products. With the technological advancements already in place, retail sector has undergone a transformation. The transformation has driven customers around the world to gain personalized experiences. It has enabled retailers to gain advantage in marketing and technology practices. This report explains the impact of data and technology on retailer’s businesses and the experiences of retailers to achieve focused marketing strategies. Further, two cases are taken to explain the shopper benefits and retailer benefits. The insights are then used to estimate the experiences and future of retailing upon integration with data and technology.
Role of data in retailing
Data gives an option to maximize the benefits through the analytical campaigns (LePage, 2015). An example is the digital marketing of a retail brand. When consumers search for specific information, it gives the retail owners the opportunity to understand consumer preferences and fulfil the same with possible options. The main reason to obtain data is immediacy. Data stands as a factor to connect the retailer and consumer based on specific criteria. For example, a buyer who needs a machine looks for the nearest and quality retailer who trades the machine. This immediacy could be either 1 hour or 2 days or 1 week but it differs from one customer to the other (Gustafsson, 2009).
Upon collecting the consumer centric data, the retailers get benefited in the following ways:
– Retailers can understand consumer buying patterns.
– Long term success is feasible as retailer is keen to fulfil the needs.
– Assures a better return than desired as interested customers do not hesitate more than what is demanded to fulfil their immediate need.
– It gives an opportunity to leverage knowledge base and do business without any issues on the margins.
Yet another strategy that needs to be noted is the cross channel shopping. This strategy has boomed the retail industry and changed their perceptions towards consumer requirements. With the web technologies, consumers turn to be internet savvy and find the best deals based on reviews and insights from others. This informs the retailers about the competitiveness which needs to go ahead with the pace. Fiorletta (2012) says that the retail industry has a direct relationship with the customers. The market is volatile such that data intensive retail brands sustain and establish interactive relationships with the consumers that are beyond the inflection point.
Data aggregation is known to benefit retailers in several ways. The findings by Morris from the 13th POS Benchmarking Survey state the classification of retailers based on their adoption to technologies (Fiorletta, 2012). Those retailers who utilize information technologies are known as early adopters and have more opportunities to interact with the end users and sustain the interest on a longer run. With smartphones in hand, it becomes easier for the retailers to aggregate the real time insights and buying history. This is an untapped opportunity through which retailers can give the in-store experience as well as stay in touch with the shoppers on latest updates.