What Consumers Don’t Know That Retailers Do
What Does Your Favorite Store Know About You?
Though most consumers know that their favorite retailers use shopping data to make decisions, few really understand to what extent retailers use data mining techniques to influence shopping behavior and increase profits. Did you know that some retailers use shoppers’data to:
a) offer better coupons to loyal customers than infrequent customers?
b) sell products at different prices to different customers?
c) and sell their shoppers’ data to other companies?
According to Camcode.com these are just a few of the things that data saving retail marketers are getting from analyzing their customers’data:
Did you know that major brands profile you based on what you buy? Retailers like Target and Domino’s Pizza gather and store this data via barcode technology, and they use it to determine everything from how best to market to you, which coupons you’re most likely to use based on your life stage, and what you might buy based on previous purchasing habits. Yes, they get all this from scanning a barcode! It’s what’s known as predictive technology, and major retailers use it to create database-driven consumer profiles to not only boost sales, but also to create more personalized buying experiences.
We decided to take a closer look at predictive technology and its role in consumer profiling. We did some digging and put together this infographic called, “You are Not Special, but Your Purchases are.”
Read more about what retailers know about their customers at the following link (Camcode.com).
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