Between 2005 and 2020, data around the world will increase to 40 trillion gigabytes. The growth and importance of data is unprecedented and the only way to stay on top is to mine, analyze, and act on it. We know that data enables retail success and in our new eBook, Wiser’s Guide to Data-Driven Pricing in Online Retail, we break down how it fits in with pricing.
It serves as an online retailer’s guide to understanding why data is so important and what they can do to make the most of the opportunity it presents. Here’s a quick preview of what you’ll find in our eBook:
“A loyal customer shouldn’t be treated the same as a first timer because they will have different needs and expectations. Big data allows you to target returning shoppers with items that will complement what they’ve already purchased, and provide them with special discounts that will encourage them to checkout again. A new shopper might need more of an introduction to your brand, with your most popular items prominently featured to give them an idea of why your customers like your brand and products so much. Tracking metrics like clickstream data can give you the insight you need to treat each shopper accordingly based on their history with your business.”
Need better data to inform your decisions? Whether in-store or online, Wiser has you covered from pricing to assortment to promotions. Schedule a meeting today to learn how to turn retail data into action.