5G Era: How The Retail Industry Faces The Data Driven Marketing Era

Bluecore, the sponsor of this survey, said in a statement: "From the survey, we found that many retailers are not satisfied with the effectiveness of data and their marketing results. The huge amount of data often makes retailers at a loss, and it is difficult to effectively analyze and implement data driven marketing strategies, which ultimately hinders sales and profit growth."

According to the results of this survey, respondents are dissatisfied with the return on investment in customer retention, purchase frequency and other aspects of marketing investment driven by measurement data; 80% of the respondents gave themselves 60% or lower scores, with an overall average score of 48%. In general, the respondents' satisfaction at the level of using customer data to obtain new customers was 54%. Large retailers with sales of more than 500 million dollars scored higher, reaching 65%, while small and medium-sized retailers scored 50%.

In general, the respondents' satisfaction with using customer data to obtain new customers was 54%. Large retailers with sales of more than 500 million dollars were 65% satisfied with themselves, while small and medium-sized retailers were 50% satisfied.

In addition, many interviewed enterprises agree that making full use of existing data can better promote sales and profit growth. Although about 90% of the respondents used the data of core websites and the results of consumer behavior analysis in marketing, less than 50% of them used POS data to directly formulate future strategies based on the observation and analysis of consumer groups.

Scott Silverman, co-founder of CommerceNext, said: "In the current economic environment, retailers who make full use of more available resources (especially marketing data) have more competitive advantages. But as the research results show, retailers still have a lot of room for optimization and improvement in using marketing data to effectively promote growth."

In recent years, EPOS Now, which has a group of loyal customers in the United States with high flexibility, is committed to providing enterprises with comprehensive and friendly sales solutions to help optimize operations, improve customer service, and make growth decisions based on data. The company has not only developed a series of functions to help enterprises effectively manage sales, inventory and customer data, but also launched corresponding application terminals and software at the hardware level to help enterprises effectively process transactions, track inventory, generate reports, and analyze sales data.

In addition, more retailers can also optimize pricing strategies and inventory levels according to the analysis results of sales data and consumption behavior, thereby reducing costs and improving profit margins.

Just as Shopify, an e-commerce platform with more than 80000 enterprise users and many channels in the world, also launched an application Shopify POS; The program optimizes the marketing plan by tracking the orders and inventory of retail stores.

Fayez Mohamood, co-founder and CEO of Bluecore, said:“ Nowadays, in the increasingly competitive environment of the retail industry, it is not only necessary to have the marketing ability to surpass the competitors, but also to convert the data analysis results into marketing actions at a faster speed, and further feed back into their own original business processes, so as to continuously accumulate stronger competitive advantages. ”