Consumer Analytics

Wayfair has tapped into analytics with an unusual goal: to rank its most enthusiastic football fans ahead of the Super Bowl.    By using analytics to tap sales data of its NFL merchandise, Wayfair pinpointed its most enthusiastic team fan bases — and where they reside. The online retailer’s results are based on overall sales of licensed merchandise sold on its NFL Fan Shop during the 2016-2017 NFL season (Sept. 8, 2016-Jan. 15, 2017).  

Sears has a new strategy to help rebuild its brand and drive profitability: artificial intelligence.    Eyeing relationships with its Sears Automotive customers, the embattled retailer is piloting its “Digital Tire Journey,” a web app that relies on IBM Watson to help shoppers buy tires. Unlike typical ecommerce websites that often rely on a drop-down menu of pre-selected tire terms, Sears’ artificial intelligence-based web app delves into the driving and lifestyle preferences of shoppers.  

Retailers’ mobile engagement initiatives are headed in the right direction, but shoppers are still dissatisfied.   According to DMI’s second annual “Mobile In-Store Experience Rankings” report, which assessed mobile experiences among 120 retailers, in-store mobility influences where 74% of the general population and 88% of “mobile reliants” shop.   

Faster shopping and the transformation of old age are two of the trends identified by Euromonitor International on its annual report of the trends that will shape the consumer landscape this year.   The “Top 10 Global Consumer Trends for 2017” report noted that 2016 was defined by uncertainty with growth in global consumer expenditure slowing to 2.4% in real terms – the lowest rate of growth since the financial crisis.  

While the path-to-purchase often starts online, a majority of interactions with a brand's website do not end in conversion.   In fact, 92% of consumers’ initial visit to a brand's website doesn’t lead to a sale, according to “Reimaging Commerce,” a study from Episerver. The study tapped more than 1,100 consumers to learn the importance of relevant and engaging content throughout the purchase journey.  

What better place is there for global exposure than the Olympic Games?   At least, that is what Alibaba is counting on now that it struck a deal to become a top sponsor of the Olympic Games through 2028. The sponsorship, which is worth $800 million, pits the brand among giants like Coca Cola Co. and Samsung Electronics Co., according to Bloomberg.  

Retail sales weren’t the only thing that rose during the 2016 holiday season.    Fraud attempts increased by 31% during the past holiday season, according to data from ACI Worldwide, which, on the positive side, found the number of overall transactions increased by 16%.   

Personalization is at the core of Buckle’s success.    However, engaging customers differently requires a deep understanding of each shopper, and leveraging specific details to foster long-term relationships. Buckle is improving its personalization efforts through a new cloud-based solution designed to create the high-touch, individualized shopping experiences the chain has built its brand on.