What is the difference between a…

What is the difference between a successful retailer and one lagging behind?

For successful retailers, it’s all about them really understanding who their target audience actually is. They’ve done their research, they understand who their core customers actually are, and they can understand and follow through every part of the customer life cycles, from that initial grabbing of interest, through to advertising and social media.

As the consumer builds interest in the brand, in terms of their online presence, it’s tailored towards that target audience, all the way through to the immediate action of buying and the follow through to delivery. Again, all tailored to that particular audience and what they want, what they need, and their interactions. A great example of this would be Ocado.

Ocado is brilliant at spotting new emerging opportunities online. For example, their vegan and free from offer in 2017. According to Hitwise data, they grew online visits by some 36% in 2017 compared with the category as a whole.

Watch the full Business Reporter interview here: Customer-centric data: The foundation of all decision making in retail

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