Post the Great Recession, there was much talk about the irrelevance and shrinking place for retailers. While those worst of days have been put behind, the situation isn’t too much better now either with giants such as JC Penney and Sears struggling. But amidst all this gloom, Target and American Eagle Outfitters have both reported growth and increased traffic. Part of the reason is digital marketing practiced by the data-driven companies. They now have hordes of data available which they use scientifically for eliciting insights about customers. Target has such a fine marketing policy and high budget, that the company has become a beacon for talent recruitment of such marketing professionals. Macy’s is also in the process of restructuring. Amazon needs to work on its in-store data, an area where Wal-Mart has already excelled in. A report submitted by PwC confirms that social media is now the top online source for consumers’ purchase decision-making. This activity is now increasingly being carried out over the mobile phone, with numbers having doubled in the past few years. While the omnichannel customer experience will rise in need, equally there will be a demand for improved execution.

Source:https://adexchanger.com/data-driven-thinking/retailer-survival-and-the-role-of-digital-marketing/

Uploaded Date:23 November 2018