What’s your top store? Which are your fastest growing categories? What’s the net profit on your in-store bakeries? Which products are your biggest shrink risk? No self-respecting retailer would dream of answering ‘I don’t know’. However, if you ask them ‘Who are your best customers? Who are your top spenders? Which customers are growing/declining like for like?’ many retailers would have to put their hand up and say ‘I haven’t a clue’.
I have always maintained “you manage what you measure” and if you don’t measure customers you can’t manage them.
Click here to read Tim Mason’s full article, expanding on the topic of ‘measuring’ customers by collecting data around their shopping habits, and how this can help retailers and brands reward loyal customers in the best way; with the right products and through the correct channels.