Managing Shopper Information is the Key in Today's Retailing Curve Ball
Technology has transformed the Retail Environment and has made Shopping multi-dimensional. This quote from Scarlett Ballantyne a popular make-up artist on Pinterest is more than relevant: "Nothing haunts us more than the things we didn't buy". In today's world of consumerism, Shoppers are Omni-channel, driven by price consciousness and are bargain hunting. As the touch-points increase in number, opportunities to sell are increasing but it's becoming tougher than ever to make an impact and also earn better margins. Herbert Hoover, the 31st President of US quoted: "About the time we can make the ends meet, somebody moves the ends".
Being better than the competitor in Shopper Marketing will be instrumental to come up roses. Influencing the Shopper through continuous and innovative Shopper Marketing practices has to be enabled by customer relationship management, workforce efficiency, product availability, lean inventory, controlled shrink and efficient value chain processes.
60% of purchase decisions are impulsive and hence the need to influence Shopping pattern and create impact with the "Right" Shopper Centric Retail Environment on any Shopping Channel.
This requires creating an Enterprise Shopper Marketing Information Warehouse to analyze Shopper actions, needs and preferences and work out tactical and operational decisions to make an Impact and earn better margins.