Beyond the Barcode: 3 Levels of Shopper Insight

Beyond the Barcode

Levels of Shopper Insight3

*RSR Merchandising Today Benchmark Report 2015

Know your customers and deliver what they want or lose them; it’s that simple. To deliver an optimal shopping experience in the physical store, retailers need sophisticated insights into customer behavior and needs, going beyond the barcode to 3 levels of shopper data.

Now, more than ever, your customer is much more than just another barcode passing over the checkout scanner.

Here are 3 levels of data to get deeper insight into your shopper’s preferences.

of brands surveyed identified their top business challenge in merchandising as Understanding Customer Preferences.*

43%

Beyond the Barcode

Level 1Transactional Data

How well do you know your customer?

• Do you understand the Product Affinity that relates to your customer base? Which categories are purchased along with a target item or group, as well as the lift realized when these are purchased together?

• Can you see how many shoppers buy product X and Y? (Overlap Analysis)

• Do you have insight into Multiples Analysis —the number of units shoppers purchase in a shopping trip?

Shopper Identified Data

Can you link shopping baskets to customers for a deeper level of behavioral analysis and understanding?

Your customer’s sales behavior should enable you to answer the following:

• Am I gaining or losing shoppers, and in which segments?

• Are they spending more or less per trip?

• Are they buying more or less of which products?

Level 2

*Bain Consulting (Loyalty Management Second Quarter 2012)

Shopper Identified Data with Shopper Segmentation

To fully understand your customer, you must understand…

• Segment Comparison—identifying brands in a category that over- or under-perform against key shopper segments.

• Item Importance—examining a product group for a shopper segment and then charting each product in terms of overall shopper spend and item share of require-ments.

• New/Lost/Retained—identifying which products are driving new shoppers to the category, losing shoppers, or performing best in terms of shopper retention.

of shoppers typically drive 40% of sales. Identifying high value shopper segments can drive big improvements to the bottom line.*10%

The topLevel 3

Knowledge is power, and today knowledge is potentially deeper and more powerful than ever. Learn more about how deep shopper insights empower retailers to deliver effective, shopper-centric merchandising.

Move Beyond the Barcode

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