Copyright Retail Automata Analytics CUSTOMER BEHAVIORAL ANALYTICS Analytical evolution of Modern eCommerce Retail 1
TABLE OF CONTENT 1. Introduction to Retail 2. Evolution of E-commerce 3. What Is Behavioral Analytics? 4. On-site or Browsing Behavior 5. Purchase Behavior 6. Analytics 7. Behavioral Customer Segmentation 8. Intelligent Automated Campaigning 2
Introduction to Retail 3
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. 4
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Copyright Retail Automata Analytics 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 Also, 44% of smartphone users admitted they bought something from their phone in 2016; 3% more than
What Is Behavioral Analytics? 7
Copyright Retail Automata Analytics The most important basis of analysing customers. It comprises of three types of analysis and each one brings more insights about customers. 8 Behavioral Analytics
1. On-site or Browsing Behavior 9
Copyright Retail Automata Analytics 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. 10
Copyright Retail Automata Analytics 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. 11
2. Purchase Behavior 12
Copyright Retail Automata Analytics 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. 13
3. Behavior 14
Copyright Retail Automata Analytics Most important behavioral information of customer to keep track of is Analytics by observing and optimising. 1. How many s were sent to a specific customer? 2. How many s were opened? 3. How many s were clicked at? 4. How many s generated a visit? 5. Did any resulted in a sell? 15
Copyright Retail Automata Analytics An effective campaigning strategy can be built by combining all the behavioral information of customers in terms of browsing, purchase as well as . An in depth analysis of all these behavioral statistics can result in better conversions 16
Behavioral Customer Segmentation 17
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19 Combining all the three behavioral aspects results into billions of possible customers segments
Intelligent Automated Campaigning 20 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
21 Automated Campaigning to these segment results into increase in revenue & profits & Customer Satisfaction
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