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The Top 5 Consumer Behavior Data Insights for Retail

We surveyed 261 retail business leaders on how they use consumer behavior data - here are the top 5 insights they get and what those insights can enable.

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#1: Path to Purchase - What is it and why does it matter?

See where a consumer was before & after visiting a location to understand how they travel & shop.

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Operations Use Cases:

  • Site Selection - assess locations for ease of access
  • Store Formatting & Merchandising - identify opportunities based on other stores they visit

Marketing Use Cases:

  • OOH Advertising & Attribution - see which OOH ads customers are passing by
  • Winning Over Competitors’ Customers - send special offers to competitors’ shoppers

#2: Demographics - What is it and why does it matter?

Characteristics including age, race, gender and HHI which are critical for defining customer profiles.

Operations Use Cases:

  • Customer Insights - build a profile for your ideal customers
  • Store Formatting & Merchandising - customize offerings based on demographics of the area

Marketing Use Cases:

  • Personalize Messaging - personalize ad messaging by demographic groups
  • Optimize By Demo - optimize ads according to which demographics they’re resonating with
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#3: Work Location - What is it and why does it matter?

Common daytime locations during work hours updated monthly - work location impacts shopping behavior.

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Operations Use Cases:

  • Market Research - see how evolving work patterns affect downtowns and suburbs
  • Trade Area Analysis - understand your trade areas relative to where people work

Marketing Use Cases:

  • Audience Targeting - find audiences that work near your locations to target with relevant offers
  • Win Back Customers - near their work with offers for a store near their home or new office target customers who used to visit a location

#4: Visits by Time of Day - What is it and why does it matter?

Visits aggregated by hour which can help you optimize staffing, inventory & marketing efforts by time of day.

Operations Use Cases:

  • Staffing & Inventory - ensure your location has the staff and inventory it needs at all hours
  • Site Selection - understand potential locations based on time of day patterns

Marketing Use Cases:

  • Special Offers - drive more traffic to your location during off-hours with special offers
  • Loyalty Programs & Event Planning - plan for loyalty rewards events during the popular times of day
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#5: Trade Area - What is it and why does it matter?

How far consumers travel to any store or shopping center based on actual patterns vs. outdated rules of thumb.

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Operations Use Cases:

  • Cannibalization - understand cannibalization across multiple locations in the same market
  • Competitive Intelligence - see competitor trade areas and identify opportunities

Marketing Use Cases:

  • Customer Insights - see where customers are willing to travel and build a relationship with them
  • Audience Curation - target people within a trade area to maximize advertising ROI