Marketing Campaigns and Promotions
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Data analytics takes advantage of the valuable data generated by consumers whenever they purchase items, be it offline or online. This data paints the customer profile, and with the brand loyalty program, these businesses will be able to see patterns in shopping behaviour to which they can leverage on. Knowing what and where customers buy their products from, their spending behaviour and purchase habits, allows brands to create well-targeted marketing promotions and offers that appeal directly towards what customers want. This draws them back to their line of clothing for future purchases.
Benefits for the company
Data analytics allows these brands to gauge the effectiveness of their marketing campaigns and overall profitability.
Feasability
High
Type of expertise/ AI domain
Segmentation, Clustering, Recommender System, Personalization, Classification for targetting
Internal data required
Historical Customer Purchases, Sale Records etc.
Many of the retail brands today collect data of their members in different ways. One method is by using a loyalty card. A loyalty card can track the money a member spends, the background of the member, times and dates they visit the location, their favorite categories and so on, which upon optimization can positively influence the spending.