November 12, 2020
As customer shopping behaviors and preferences become widely stored and available, retailers are better able to understand their unique customers. Total Retail recently published an article entitled “What a Year to Date Analysis of Consumer Transactions Tells Us.” The author, CMO at Dynamic Action Sarah Engel, explores customer behaviors by looking into specific consumer transactions throughout an entire year. True Fit’s co-founder, Romney Evans, discussed the importance of analyzing customer data and understanding its impact on a brand’s overall performance.
He said, “Understanding returns is complex because it's often a byproduct of really positive shopping behavior and is usually tied to retailers’ most active shoppers. It's vital for retailers to analyze the distinct returns behaviors that manifest in the data in terms of size sampling, color sampling and style sampling which can occur within one order, as well as sequential sampling which occurs over multiple orders. Once you understand what your customers are really doing, you can target those behaviors with specific strategies, tools and policies, and then promote the positive ones.”
The article found through behavior analysis that customers now expect deals throughout the year, are shopping more on mobile devices, and view free shipping as the new normal.
To read more of this Total Retail article, click here.