Close
 

How to break up big data and make it work for you

  • News
  • September 14, 2015
  • Sarah Dunn
How to break up big data and make it work for you

Another speaker at the workshop, Aimia’s Simon Rowles, explained that gathering data from loyalty programmes is essential. Using this data, retailers can target their best customers much more efficiently and refine their offering.

“Basically, you can fire 53 percent of your customers and lose 10 percent of your turnover, you just have to know who they are,” Rowles says.

However, Moolenschot says retailers can find manipulating large data sets from loyalty programmes overwhelming. The key to breaking it down is to look for trends. She recommends starting with identifying trends by industry or product group, then looking for the shoppers who shopped with them every month, every week, and so on.

Once retailers had identified their best customers, the next step Moolenschot suggested was to seek out the ‘next-best’. Handling the best customers is about retention, she says, so finding the next-best represents a chance to move them up a notch.

“Look at what your best customer is doing that your second-best isn’t.”

Moolenschot took cues fashion retailers when she spoke about the importance of accessorising. She says retailers should seek out “pairs” – purchases which logically followed other purchases – and communicate that opportunity to customers after the first sale.

Pushing the frequency was another tip Moolenschot picked up from a retailer. Speaking of her affection for Starbucks, she says Starbucks pushes the frequency of purchases expertly by using its app to target customers it has identified as receptive to suggestion with push notifications.

The last of Moolenschot’s quick suggestions was “Introduce new categories”. She says the Body Shop has shown the way with its different ranges. Categories such as ‘Olive’, ‘Tea tree’ and ‘Hemp’ each contain several different products, encouraging customers to make further purchases and collect the set.

Moolenschot introduced the crowd to common loyalty-based challenges from The Warehouse Group’s Warehouse Stationery brand:

  • How to segment different customer groups from items that everyone uses, such as staplers?
  • What can the company do once a once-off item like a printer has been sold?
  • How to identify Warehouse Stationery’s split between consumer and business purchases?
     

Her closing advice to retailers was that they should “test, test, test, and fail fast”. The emphasis should be on progress rather than perfection, and keeping it simple is key.

“Customers will remember you if you remember them,” Moolenschot quoted.

​ ​

This is a community discussion forum. Comment is free but please respect our rules:

  1. Don’t be abusive or use sweary type words
  2. Don’t break the law: libel, slander and defamatory comments are forbidden
  3. Don’t resort to name-calling, mean-spiritedness, or slagging off
  4. Don’t pretend to be someone else.

If we find you doing these things, your comments will be edited without recourse and you may be asked to go away and reconsider your actions.
We respect the right to free speech and anonymous comments. Don’t abuse the privilege.

 

Direct sales: How multi-level marketing works

  • News
  • April 18, 2019
  • Sarah Dunn
Direct sales: How multi-level marketing works

The $200 million-plus direct sales economy contains many lessons retailers can use. As part of a wider look at this thriving corner of retail, we created a quick explainer showing how this business model typically works.

Read more
 
 

Direct sales: Meet the upliners

  • News
  • April 18, 2019
  • Sarah Dunn
Direct sales: Meet the upliners

We profiled different participants in the direct sales industry to find out what retailers can learn from them. Meet Isagenix distributors Adam Nesbitt and Bianca Bathurst.

Read more
 
 

Direct sales: Meet the business builder

  • News
  • April 18, 2019
  • Sarah Dunn
Direct sales: Meet the business builder

As part of a wider story looking at what retailers can learn from the direct sales industry, we profiled Isagenix distributor Ben Frost.

Read more
 

Social scoreboard

Zavy and The Register have worked together to create a scoreboard that compares how the top 25 traditional media advertising spenders in New Zealand have performed on social media over the past 30 days, updated in real time.

 
topics
Concept to closet
Business coverage of New Zealand Fashion Week.
Town centres
A positive retail environment over the past 12 ...
Amazon Arrival
Keeping up with all things Amazon as it ...
The Retail Yearbook 2017
As we battle our way through the busiest ...
Hospitality enhancing retail
Some think food and integrated hospitality offerings will ...
The future is bright
We spoke with four retailers in their twenties ...
Spotlight on signage
At first glance, the humble in-store sign might ...
Red Awards 2016
The Red Awards for retail interior design celebrate ...
Auckland Unitary Plan
Auckland is changing. The Unitary Plan will decide ...
How to open a store
Sarah Dunn considers what it would take to ...
All things to all people
Kiwi retailers share their omnichannel strategies.
Rising stars
Retail's top young achievers.
Delivering on your promises
The sale isn't over until your item is ...
Retail in heartland New Zealand
Retailers keep the regions pumping, but how strong ...
Sisterhood
Women in retail help one another. We spoke ...
The changing face of retail
Shifting demographics are creating big changes in New ...
The retail yearbook
With the help of experts in the retail ...
Retail rogues
We put the spotlight on staff training. Jai ...
Here come the giants
Topshop has arrived in Auckland’s CBD, David Jones ...
Window shopping: A spotlight on social media
Sarah Dunn and Elly Strang look at how ...
From retail to e-tail
Ecommerce has become part of the way mainstream ...
Loyalty in the digital age
How are retailers maintaining loyalty? Sarah Dunn, Elly ...
The Innovators | In partnership with Spark Business
Technology is rapidly changing the retail industry as ...
 
News

Leveling up: Exploring multi-level marketing in New Zealand

Is the $200 million-plus direct sales economy retail by another name or something different? Regardless, what can we learn from it?

 
 

A spectrum of retailers

  • Opinion
  • April 18, 2019
  • David Farrell
A spectrum of retailers

In recognition of April being Autism Awareness Month, retail commentator Dave Farrell considers the role of those on the spectrum in retail.

Read more
 

How on-trend is your retail business?

  • Sponsored Content
  • April 18, 2019
  • Sponsored content
How on-trend is your retail business?

New insights from Visa highlight five evolving trends emerging from savvy retailers around the world. We’ve taken these global trends and looked at how they are playing out with merchants in New Zealand, and we’d now like to hear what you think of them.

Read more
 
Next page
Results for
Topics
Jobs
About us.

The Register provides essential industry news and intelligence, updated daily. And the digital newsletter delivers the latest news to your inbox twice a week — for free!

©2009–2015 Tangible Media. All rights reserved.
Use of this site constitutes acceptance of our Privacy policy.

Advertise
The Register

editor@theregister.co.nz

Content marketing/advertising? Email anita.hayhoe@icg.co.nz or call 022 639 3004

View Media Kit

}