How Retailers Can Leverage Insights From Consumer Transaction Data
In the era of COVID-19, retail executives are increasingly dependent on data-driven approaches for understanding their customer base. Transaction data provides a quantitative view into how consumers behave to empower responsive decision making in uncertain markets.
Benchmark business health metrics against competitors with cross-shopping analyses or breakouts by purchase channel and subsidiary lines of business.
Identify high-growth geographies for store expansion, targeted marketing, and high-value partnerships.
Analyze shifts in key performance metrics over time to better understand changes in customer engagement and behavior.