Client: A leading CPG industry company
Area of engagement: Clickstream analytics
The CPG industry has started witnessing a shift from offline to online channels and is affected by factors such as the slowing GDP growth and waning currency values. As a result, CPG industry players have started thinking beyond the conventional shopping techniques to create and boost shopping experience for customers. Also, consumer behavior and needs have been changing, and organizations are embracing technologies to meet the ever-growing array of demands. To stay on par with the altering preferences of the customers, leading firms in the CPG industry are planning to fine-tune their operating models with that of the competitors.
However, several factors are expected to influence the growth of the CPG industry in the coming years. A few factors include:
- Fluctuating consumer demands: It is essential for CPG industry players to be more dynamic and consumer-focused as the needs and demands of the consumers are fluctuating Additionally, over the past few years, consumer preferences have evolved and moved toward more sustainable choices. As a result, the profitability and success of the CPG industry firms are dependent on how they cater to the fluctuating needs of consumers.
- Innovations: As the current CPG industry is witnessing a shift toward digitization, prominent firms are developing, testing, and iterating innovative ideas to optimize customer engagement. Furthermore, it becomes essential for the companies to re-align their offerings to meet the growing demands of the customers.
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Many such factors are compelling CPG industry players to leverage the use of clickstream analytics solutions. Clickstream analytics solutions help CPG industry firms to understand the online behavior of the customers and better connect with them. These solutions also help companies categorize and target visitors, improve pricing strategy, and optimize web pages.
The Business Challenge
The client, a leading CPG industry player with business units spread across the globe, wanted to gain valuable insights into the customer behavior and their shopping patterns. The client also wanted to seek ways to improve pricing strategies and analyze their website’s performance quickly. The client also wanted to profile, target, and retain potential customers with the help of clickstream analytics.
The Solution and the Business Impact
The clickstream analytics solution offered by Quantzig helped the CPG industry client to profile potential customer segments based on traffic insights. Moreover, the client was able to revamp their pricing strategy, categorize and target visitors, and tailor offerings for the potential customers. Furthermore, the client gained actionable insights into the user’s engagement, response times, and the overall site’s performance.
Clickstream Analytics Solution Insights
With the help of Quantzig’s clickstream analytics solution, companies can analyze the purchasing preferences of the customers and customize offerings. Additionally, companies can determine the data that yields maximum information and improve user’s web page interaction. This will help them reduce the overall attrition rate.