In recent years, retail organizations have started facing the need to implement robust assortment planning to understand their consumers’ perspectives and that of their competitors. In the retail sector, organizations are leveraging the use of social listening to listen and analyze consumers’ preferences and make informed and consumer-centric decisions. Also, various retailers in the retail chain are resorting to social media listening to determine gaps in the assortment strategy and pricing perception to further shape the value proposition. Through a detailed social listening study, retailers can maximize social chatter to identify the pain points of desired products and adjust inventory levels based on consumers’ demand.
With organizations shifting toward a consumer-centric model, leading retail chain have started focusing on implementing social listening tools to solve consumer challenges and reduce negative brand perception. With years of expertise in offering social analytics services, Quantzig’s solutions help clients provide better products and service transparency. Also, Quantzig’s social listening solution helps businesses harness the power of social media to connect with a larger set of consumers. Furthermore, the engagement also helps clients understand the market’s reaction to new products and effectively measure the success of promotional campaigns.
In the current market landscape, social media acts as an effective platform to voice out views and opinions. Social media becomes more vital in advocacy campaigns, where one can effectively monitor the conversations and take actionable decisions. Like several other organizations in the landscape, a renowned retail chain with considerable stores spread across the globe wanted to leverage the use of social listening to identify emerging trends in public affairs. The client wanted to understand the tastes and preferences of the general public and implement effective strategies to maintain a positive public image and brand identity in the retail chain landscape.
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Predictive Analytics Solution Benefits
Through a robust engagement, the client was able to leverage social listening capabilities to make informed assortment and inventory decisions. Also, the engagement assisted the client in effectively adjusting inventory levels by stores and department. With the help of predictive analytics, the client also derived real-time insights on consumer opinions and preferences, assessed the number of followers and impressions on social media. Furthermore, the assessment helped the client enhance customer centricity, enable better product offerings, and optimize customer loyalty.[spacer height=”20px”]
Predictive Analytics Solution Predictive Insights:
- Tailor information based on customers passion, perceptions, and concerns
- Effectively monitor conversations to understand the complaints and adopt appropriate communication strategies
- Gain better visibility into the competitors and devise an effective marketing campaign
- Comprehensively profile their target audiences and drive targeted campaigns[spacer height=”20px”]