Today I’m sharing Dunnhumby’s Director of Category Management – Dion Roberts – 2 minute video on retailer growth areas. The key point that can impact your business is in my summary below.
Most decisions in retail are being made based on instinct. This isn’t just at small retail. The reason is, most retailers don’t have the right insights or tools to support decisions. This is particularly true with customers because not all customers are equal. To maximize opportunities you need to address customers based on their need and their value.
To understand how well you know your customers ask yourself these two questions:
- Do I segment customers based on their spending pattern?
- Is my promotion strategy customized to target specific consumers?
If the answer is no, then it’s time to learn how to harness the power of your own data.
We would be glad to help you leverage your data to maximize sales. The reality is without using your data you are probably leaving money on the table.