Manthan-RIS research reveals retail as an Omni-channel industry

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

 

A new research has been conducted by Manthan Systems and Retail Info Systems News (RIS) to highlight the need for Evolution of Effective Loyalty Management.

The research reveals that there is a disconnect between customer and retailer perceptions of loyalty programs.7 out of 10 retailers do not effectively use the information gathered through their loyalty programs. They either do not trust their loyalty data or do not make the information easily available to the marketing and merchandising departments to improve the accuracy of sales, inventory and budget forecasts.

Anand Sri Ganesh, Senior Vice-President and Business Head, Customer Analytics for Manthan Systems said, “Managing customer loyalty is an interesting challenge for the retail marketer today. We believe that analyzing the available data with retail aware segmentation techniques will throw up unlimited possibilities for the retail marketers enabling them to drive revenue through loyalty. The research suggests more retailers are inclined to increase usage of analytics to understand customer behavior and this is an encouraging trend.”

RIS - Manthan predict data integration occurring across all channels and analysis identifying the lifetime value of single-channel and multi-channel customers.

Of the retailers surveyed, 84 percent of them chose relevant and personalized offers and communication as the primary driver of customer loyalty. A smaller margin of 74 percent opted for awards and discounts.......See More