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Using data to inform future retail purchasing decisions

When it comes to the retail sector, data remains a highly prized commodity. Here Derby-based DataClarity have recently received national recognition with their award-winning ClarityOmnivue product – a piece of software that collects and analyses data across a range of user platforms.

Among its many capabilities is the ability to track information, identify individual customer preferred payment methods, average price per spent, recognition for top staff by the number of sales as well as measure the impact of marketing activity on inventories. ClarityOmnivue is one example of how the retail industry is using data to improve customer insight.

Data can also be used to predict and track behaviour trends too. One topical example centres around the popularity of England football manager Gareth Southgate and his Marks and Spencer clothing. By analysing data it was proven that positive and, at times, enthusiastic social media mentions of the waistcoat were increasing, Marks and Spencer as a result, were able to produce a marketing campaign which capitalised on the nation’s mood – the result: a huge uplift in sales of that particular product.

Other retailers benefited too. Moss Bros analytics reflected +400% increase in visitor numbers and transactions as a direct result of the waistcoat paid search campaign. This was achieved by boosting bids across generic terms related to waistcoat queries, as well as increasing bid modifiers for audiences, with waistcoat sales being described by the retailer as “going through the roof”.

With further developments expected around location-based technology, augmented reality and artificial intelligence in the near future, the role of digital marketing agencies with the ability to develop campaigns that nurture B2B as well as B2C relationships is only likely to increase.

(Image source: The National)