Retailers need to collect and analyse their own customer data to survive the crisis

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 07, 2020, 12:05 PM UTC

Macro-economic data can only provide limited insights as customer data varies from sector to sector.

Companies need to gather their own customer data to survive in the new reality of the post-pandemic world. While different businesses have different needs, this piece lists out steps that can help businesses collect the right customer data.

Retailers are often blind to in-store customer data – like consumer journey in-store, sales abandonment and general consumer sentiment.  They can fill this data gap by leveraging in-store surveys and online polls. They can also use technology to fill in information holes on metrics, like footfall, which are not easily measurable.

Since consumer behaviour is expected to be fickle in the coming time, insights derived from data need to be implemented quickly. Ensuring the whole team is involved can help in easier understanding and better ideation around the data gathered.

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[5 minute read]