We believe that analyzing the available data with retail aware segmentation techniques will throw up unlimited possibilities for the retail marketers.
Scottsdale, AZ (PRWEB) May 30, 2013
According to new research conducted by Retail Info Systems News (RIS News) and Manthan Systems, there is an apparent disconnect between customer and retailer perceptions of loyalty programs.
Findings from the research show that 7 out of 10 retailers do not effectively use the information gathered through their loyalty programs. They either do not trust their loyalty data or do not make the information easily available to the marketing and merchandising departments to improve the accuracy of sales, inventory and budget forecasts.
“Managing customer loyalty is an interesting challenge for the retail marketer today,” says Anand Sri Ganesh, Senior Vice-President and Business Head, Customer Analytics for Manthan Systems. “We believe that analyzing the available data with retail aware segmentation techniques will throw up unlimited possibilities for the retail marketers enabling them to drive revenue through loyalty. The research suggests more retailers are inclined to increase usage of analytics to understand customer behavior and this is an encouraging trend.”
As retail becomes an omnichannel industry, RIS - Manthan predict data integration occurring across all channels and analysis identifying the lifetime value of single-channel and multi-channel customers. Mining this rich database to unearth growth opportunities will provide retailers with an edge.
Of the retailers surveyed, 84 percent of them chose relevant and personalized offers and communication as the primary driver of customer loyalty. A smaller margin of 74 percent opted for awards and discounts. This shows a growing sophistication among retailers and a level of maturity in the evolution of loyalty programs.
To download the full report, please visit http://goo.gl/9xj9R
About Manthan Systems
Manthan serves as the Chief Analytics Officer for retailers worldwide.
Over 80 retailers across 18 countries are supported by Manthan's predictive and guided analytics, pre-built and flexible dashboards, dynamic reports and data visualizations combined with complete mobile enablement. Moreover, Manthan provides the only retail solution to transform traditional business intelligence to smart decision-making support with bi-directional integration capabilities that convert insight to action.
Recently ranked #1 for technology innovation and product reliability by RIS News Software Leaderboard, Manthan is the largest organization solely committed to delivering best-in-class retail BI solutions with over 600 employees in five countries. For more information, please visit http://www.manthansystems.com.