Benefits of Customer Data in E-Commerce
As a retailer, you stand to learn a new thing that will assist you to serve your customers better each time you interact with them. You will discover better ways of serving each customer to enhance the level of satisfaction and improve the profitability of your store. The entrepreneur continues to learn customer behavior as they continue to interact with their customers. When shoppers exchange information with the multi-channel retail store as they continue with their interactions, retailers can use that data they collect from their customers to improve their marketing efforts. E-commerce Industry Consumer Data infographic by Trade Vitality will help outline the benefits of understanding your customer’s shopping behavior online.
Find out the Shopping Time for Your Customer
Stores open at different times depending on the shopping patterns of their customers. Some stores only open during the day while others go up to night because they understand the shopping patterns of their customers. For instance, Albertson’s and Walmart have many stores that open for 24 hours. The online retailer should market to loyal customers at the time intervals they make most purchases. For example, it is better to send a personalized email to loyal customers at the right time instead of sending tons of generic emails at the same time.
Find out the Likely Product Liking
Most multichannel retailers in the United States use the behavior of customer purchases to discover likely product needs and affinities. You can guess what the customer is about to buy next after he orders a bunch of products. With this data, the seller can send an automated list to the buyer that is related to their recently purchased products.
Push Hard on the Holiday or Festive Season
As a retailer, you need to be careful with the products that sell most during holidays. You need to be keen with holiday purchase patterns and stock relevant products beforehand. It will be very unfortunate for you to stock the wrong products during the peak seasons because you will lose a chance to benefit from the supernormal profits.
Realize Subscription Opportunities
Both shoppers and merchants are getting big opportunities with e-commerce subscriptions. Subscription can make online retailers discover new products to sell and replenish their stock. It also assists merchants to reduce costs and manage inventory. You can increase your volume of sales by increasing subscriptions for related products.
Giving Discounts or Gifts to Repeat Customers
It’s advisable to introduce new reward systems that will surprise your clients. Just identify shoppers who spend over a given limit and give them discounts over a certain interval. Happily surprising your loyal customers can come with a lot of benefits to your e-commerce store. The good thing is that you can easily automate and replicate this process. Additionally, the online merchant can use their customer data to create similar programs.