Customer behaviour analytics unlocks customer's mind and provides behavioral insights to e-commerce retailers. Behaviour analytics analyses three behavioral traits (Browsing Behavior, Purchase Behavior, E-mail Behavior) of customers and sticks them around until they buy what they've been looking for. Interestingly, a combination of all the behavioral inputs can result into countless combinations of Customer Segments.
Analytics assists ecommerce businesses to gain useful customer insights and implement measures for increased revenue and customer satisfaction. "
4. Retail Business
Retail is the process of selling
products to customers, as per
their needs and interests.
In other words, retailing is the
transaction between seller
and buyer for a product.
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eCommerce Evolution
Ecommerce is the most productive and active thing since past 3 years and it's
evolving at rapid pace.
Wall Street Journal, it happened for first time in 2016 that people bought more
goods online than from brick and mortar store. United Parcel Service Inc.
surveryed 5000 shoppers and found that 51% people purchased goods online,
increased from 48% in 2015 and 47% in 2014. Also, 44% of smartphone users
admitted they bought something from their phone in 2016; 3% more than 2015.
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The most important basis of analysing
customers. It comprises of three
types of analysis and each one brings
more insights about customers.
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Behavioral Analytics
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The objective of analysing On-site or Browsing behavior of
customers can be understood by these
"Know Thy Customers"
Analysing the browsing behavior of customers is the most
important aspect of modern retail.
It focuses upon tracking and understanding the finest details
of customers on-site activity.
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Keeping track record of on-site
behavior of customers provide the
core foundation of important
analytics for modern day retail.
Personalized experiences on
landing page results into higher
conversion ratio.
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Purchase Behavior of customers
Purchase Behavior of customers is the strongest
source of customer preference data. One looks at so
many products but buys only what is most important.
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Most important behavioral information of customer to keep
track of is Email Analytics by observing and optimising.
1. How many emails were sent to a specific customer?
2. How many emails were opened?
3. How many emails were clicked at?
4. How many emails generated a visit?
5. Did any email resulted in a sell?
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An effective campaigning strategy can be built by
combining all the behavioral information of customers in
terms of browsing, purchase as well as email. An in
depth analysis of all these behavioral statistics can result
in better conversions
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20. Intelligent Automated
Campaigning
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At any given time only a few of these segments represent
profitable campaigning opportunities
Using Artificial Intelligence Techniques Retail Reco helps
you identify these Customer Segments
Predictive Analytics Outcomes gives each customer’s
product affinity
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Automated Campaigning to these segment results into
increase in revenue & profits & Customer Satisfaction