Big Data in Retail

Let’s say you walk into a store to buy a few things. When it comes time to pay, you swipe your loyalty card and are presented with discounts on certain products and coupons. Maria Pope Toliopoulos, the Senior Vice President and Director of National Retail Leasing and Services for RPAI stated: “Retailers have a better sense of how to market directly to me, not me as a class or type of shopper, but me, Maria. Customized coupons and specials are made possible by that competitive advantage as are specials targeted for one’s birthday and curated suggestions based on my previous purchases and browsing patterns” (globest.com).

Retailers who avidly use analytics and study their big data results are watching what links you as a shopper are clicking on, which sites you went to before clicking on theirs and which sites you went to afterwards. Online stores put tracking cookies on their site, and when you agree to browse a site that uses them, you are ultimately agreeing in a sense to publicly display the data you share. Companies online are realizing the importance of focusing on understanding the conversion rates on their sites. Improving the conversion rates can lead to a growth in brand awareness and profits.

Read the full article here: http://www.globest.com/sites/johnsalustri/2017/05/16/big-data-the-ultimate-in-customer-tracking/?slreturn=20170418213740