Analytics Made Easy

There’s no doubt that “analytics” has become the business buzzword du jour. While many big corporations may have the bandwidth to track their customers' each and every move, developing a comprehensive analytics strategy can seem like a daunting endeavor for smaller retailers. But it doesn’t have to be. For retailers looking to dip a toe into this new data-driven world, your website is a great place to start. That's because most consumers begin their shopping journey online these days - even those that ultimately make the final purchase in store. With a simple analytics strategy, retailers can gain key insights on how their customers are getting to their website, what they were looking for and which pieces of information they focused on when visiting. By tracking and analyzing how consumers are finding and engaging with you online, you are gaining key information about your strengths—and where there are opportunities to improve. In addition to rolling out new analytics tools designed specifically for the retail market, Adobe recently published a helpful analytics report that provides valuable insights you can use to start building a strategy of your own.

In this new report, Adobe outlines analysis based on consumer data from over 50 billion visits to over 250 retail websites over the course of two and a half years—revealing key details about how consumers engage with these sites. First, it highlights the ever-growing importance of social media. While the report found that only a small percentage of retail website visitors are coming directly from social media sites, it also discovered that the amount of traffic driven from these platforms has doubled since the beginning of 2015. This means that more and more people are relying on things like Facebook, Twitter and Instagram when it comes to deciding where to shop. The report also looked at the different devices consumers were using when visiting these retailer websites. While most ecommerce revenue is still primarily generated on desktop computers, Adobe’s data suggested that mobile will be the biggest driver of web traffic by the end of the year. This means that a growing number of consumers are doing the “research and comparison” part of shopping on their phones.

So what does this mean for your store? It means now’s the time to start investing in your social media and mobile strategies. If these are two avenues that consumers are using to find retailers, opting out of them puts you at risk of losing sales to your competitors. With greater analytics capabilities, you can gain access to a bevy of valuable information about how your customers shop and what they’re looking for. By collecting and analyzing this data, you will start to see trends that can help you make smarter decisions about where and when to invest your marketing dollars.

Read more here and here.

This article originally appeared in Sleep Retailer eNews on September 28, 2017

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