Mark Lewis: Why Retailers Should Hand Consumers Their Data
The quantified self movement will likely extend to retail establishments as consumers expect more from analytics.
Big data, advanced analytics, and predictive marketing — all are huge opportunities for brands to more accurately analyze complex consumer behavior, and retailers stand to benefit more than most brands. Because they offer multiple products or SKUs under one brand, retailers can make consumers more personalized offers or recommendations, thereby (hopefully) increasing basket size and profitability.
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