How Ecommerce and Big Data Work Together
In 2016, ComScore reported that for the first time, online shopping surpassed physical retail with shoppers making 51% of their purchases online, compared to 48% in 2015. With consumers slightly favoring the online marketplace, it creates a shift in how analytics are gathered and leveraged. A greater percentage of online shoppers allows more efficient information gathering in greater quantity to more quickly drive change in the marketplace. The concerns about customer experience still very much exist, but as shoppers move online, the rules about how to create the best experience are changing.
Data gathering and big data analytics for retail and online shoppers reveals a wealth of information about who is shopping, when, what they are buying, and why. Those analytics can be coupled with algorithms to predict what customers might like and drive sales higher. Analytics can also provide insight into better reaching your customers with targeted advertising and feedback on customer experience to part them with their money more effectively.
Below is data collected on how customers view companies with an online presence, how they use social media to engage with a company, and how customer experience affects the way customers perceive a business. We also measured which generation spends more money online, how much time each spends shopping, and whether or not they prefer a physical location.
A great social media presence and an understanding of how customers choose to interact via web based channels and purchase online can greatly increase business revenue through online shopping and engagement. Great data analytics, such as through Stratifyd’s AI powered platform, can provide better insight into customer experience to inform better online and offline decision making.