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Consumer Analytics

  • Seven Customers Retailers Should Know

    Retailers are fighting to engage customers and keep them from going elsewhere. And smart retail marketers know that nurturing existing customers to increase lifetime value is the fastest, highest-ROI route to near-term revenue growth.

  • Study: Consumers want personalization, but most companies not on board

    Customers know what prompts them to make purchases, but the companies doing the selling may not be aware.

    A global, cross-industry study released by technology services provider Mindtree, “Winning in the Age of Personalization,” shows that 78% of consumers indicate that personalized promotions encourage them to buy products and services they have purchased before. Almost as many (74%) say personalized promotions encourage them buy relevant products and services they have never purchased.

  • Online fraud losses skyrocket

    While online retailers generally understand that fraud can significantly cut into profits, they may not be aware of its full cost — or the different ways it can impact a business.    A new infographic from fraud and risk management technology provider Kount drives home the boomerang impact fraud has on e-commerce. Called “The 10 Deadly Costs of Fraud” for e-commerce retailers, here is a brief summary of its findings:   

  • Tech Bytes: Why Aren't Customers Buying Social Buy Buttons?

    Consumers love to shop and love using social media, but somehow the two passions are not connecting.
     
    Twitter, which has been piloting an embedded buy button in tweets since September 2014, is abandoning the effort. Recent studies from Forrester and GlobalWebIndex indicate generally low consumer usage rates for social buy buttons, which are also offered by platforms such as Pinterest and Instagram.
     

  • Pandora extends Synchrony financing agreement

    Synchrony Financial will continue to offer consumer financing to Pandora Jewelry customers.

    The two companies have announced a multi-year extension of their consumer financing program agreement. The program, which began in 2011, will continue to provide Pandora shoppers with access to a range of payment options through the Pandora Preferred card program. Special financing will be available at select concept stores nationwide.

  • Survey: A good fit makes all the difference

    Incorrect fit is costing retailers billions of dollars — literally.
       
    In 2015, $62.4 billion worth of global apparel and footwear purchases were returned due to incorrect sizing, according to a survey by digital body analysis technology provider Body Labs.

    The survey found that that 23% of all clothing gets returned, with 64% of respondents claiming “incorrect fit” as the major reason for the return. And 77% of respondents who prefer shopping online stated that poor fit is the biggest reason for returning clothing.

  • Simplification Can Help Retailers Adapt to the Mobile Movement

    The story of the “mobile first” generation isn’t a new one. Retailers have been told for years that mobile should be at the forefront of business strategy in order to meet consumers’ evolving expectations.
     
    Yet, there appears be a disconnect between existing mobile experiences and consumer sentiment.
     

  • Study: Retail personalization efforts not connecting with shoppers

    Despite all the attention being given to retail customization and personalization, most consumers see their shopping journeys as marred by inconsistency and impersonal service offerings.
     
    Although  93% of retail executives say service personalization is a strategic focus, only one-quarter of consumers feel they receive a consistent, personal experience across channels, according to findings from personalization technology provider TimeTrade,
     

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