Retailers Are Challenged In Using Data: Study

Retailers are overwhelmed by the sheer volume of data hitting them, and have trouble using it to implement data-driven strategies, according to a new study by CommerceNext, sponsored by Bluecore.  

Of the digital and ecommerce marketers surveyed, 80% give themselves a grade of 60% or lower in using data for customer acquisition.

The average grade was 54%. Larger retailers with over $500 million in sales, gave themselves a 65%, and small and mid-sized retailers scored 50%. 

At the same time, 90% use core web analytics and behavioral data for marketing campaigns, but fewer than 50% utilize point-of-sale, price and inventory changes, or customer care interactions, the study notes.

“As this study shows, there is room for improvement when it comes to using marketing data to drive growth and we hope this study serves as a data point for retailers to direct more resources to this area,” says Scott Silverman, co-founder of CommerceNext.

CommerceNext surveyed 109 retail and brand executives from February 15-March 19, 2023.




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