- Cynthia Holcomb
How Customers Talk to Retailers
Individuals purchase products based on individual sensory preferences. Unfortunately, words are subjective to the individual, resulting in consumer focus groups and surveys being skewed translations of the subjective preferences or views of the individual researchers involved.
We make the decision to buy a product because we have an emotional connection to the sensory aspects of a product. Like a car for instance. I recently bought a new car and knew immediately what car I wanted to buy after trying out 5 other cars. Another example, a woman shopping through a rounder of dresses and pulling out one or two dresses. She knows instinctively, without thinking, what she likes.
This brings me to Big Data. To truly uncover valuable "customer research" I suggest retailers change their view to microdata, abundant in reams of recent customer purchase history. A plethora of rich, sensory-driven, customer product feedback, hiding in plain sight in Big Data.
Using recent purchase history, accessed across all distribution channels [in store, digital] in real-time, retailers can spot trends and business intelligence on the fly, hourly!
On the macro level, fresh, continuous customer insights, why did a product sell or why did a product not sell? New, AGNOSTIC, cognitive technologies will take the guesswork out of product assortments and vertical product development.
Knowing exactly the sensory preferences of each of your individual customers unleashes the power of true, bonafide, 1 to 1 marketing, heretofore, never possible!