CHICAGO - Retailers have broad expectations from the data they collect on shoppers through surveys, but many said they have been unable to translate that data into actionable information, according to a study presented at the Shopper Insights in Action conference here.
Other benefits retailers said they expected to reap from such data included more profitable sales and higher shopper retention rates (both expected by 79% of retailers) and the acquisition of new customers, expected by 71% of retailers.
For manufacturers, shopper insight data was considered more useful for opening a dialogue with retailers.
Nearly half - 43% - of retailers said their greatest barrier to realizing tangible benefits from shopper insight was an inability to translate shopper insights data into action. Other barriers included not enough funding, cited by 29% of retailers, and the inability to directly link shopper survey data to shopper purchasing data, also cited by 29% of retailers.
