As a result, what shoppers see on store shelves will be better tailored for them and ultimately lead to a better shopping experience overall. By taking data from physical stores and online shopping, the department store chain can fine-tune pricing throughout the year, Davis says. Consumers in a recent survey said they’re inclined to spend about 5 percent more if in-store shopping experiences are personalized. A separate study of analytics in customer programs found that companies’ biggest challenge was integrating customer insights into business operations. Further, consumers can shift gears quickly today, so retailers have to keep on top of their analytics game.

Source: Forbes October 03, 2017 14:06 UTC