As both luxury and mass-market shoppers seek greater omnichannel experiences that enhance their customer journey, retailers that are not using location data are falling exceptionally behind.
It was once the common understanding in retail that shoppers follow a path to purchase, but that path today looks more like a web.
In the last decade, a new breed of consumer has emerged that is more demanding and informed, forcing retailers to adapt to attract and retain their business.
Retail marketing teams are given access to a great deal of data about their customers. This particularly applies to retailers who offer loyalty programs: in addition to the personal contact information, these programs allow marketers to track a wealth of data points, such as frequency of store visits, brand preferences, and amount spent per product category.