How well do you actually know your customers? Do you have the right insights about their individual behaviors so as to impact their purchase patterns at the right moments? When it comes to using advanced analytics, fashion retailers are still lagging behind, but again, there are pioneers in the fashion industry too, who use BIG data to their advantage for making every day decisions based on real dependable trends and insights rather than gut-feel. How deep you dive will directly impact the relationship of your brand with your customers.
One area where BIG data can really help is hyper targeting. It gives retailers a great window to understand customer preferences and conduct focused and targeted marketing – to zero-in on prospects that are most likely to buy their merchandise.