The client: A leading non retailer
Area of engagement: Digital analytics
The non-store retailing industry includes companies that are involved in the selling of goods and services without the presence of a physical store. Despite the global recession and inflation, retail companies the non-store retailing market are planning to redefine their business models to understand the art and science of catering to the customers’ demands. The growth of the non-store retailing can be attributed to factors such as growing GDP, rising disposable income, and consumer spending. The non-store retailing format can be classified into different types. They include.
- Direct selling
- Online marketing
- Direct marketing
- Electronics retailing
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Although, the development of non-store retailing is considered as a revolution in the retail sector, here is the list of the advantages of using non store retailing as compared to the conventional counterparts.
- An individual can get freedom from the physical retail presence
- Prominent non-store retailing companies can curtail the additional cost factors pertaining to operating retail outlets
- In the non-store retailing sector, retailers can target a wider audience, which is not possible in an individual retail location
- Moreover, the need for acquiring and building stocks can be eliminated, and retailers can sell their products without the need for a centralized location
While prominent retail companies are devising effective retail strategies to identify a viable consumer base, it becomes essential for them to keep track of their existing customers and their brand affinity. Moreover, companies should also fine-tune their marketing strategies to identify the right target audience. In addition, companies in the non-store retailing sector can offer a continual online experience to the customers with the help of digital analytics.
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The Business Challenge
It is estimated that the non store retailing accounts for 20% of the total retail trade.
A renowned client in the non-store retailing sector wanted to understand the latest retail trends and analyze the user behavior on their websites, mobile sites, and applications. The nonstore retailing company wanted to leverage the use of analytics solutions such as digital analytics to optimize their customer experiences and generate better ROI. The primary objective of the engagement was to monitor and collect information at each touchpoint to optimize their marketing activities and the overall business performance.
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The Solution Benefits and the Business Impact
The digital analytical solution offered by Quantzig helped the non store retailing company understand the customer behavior and anticipate customer movements that can help the company drive customers to conversion. The analytics solutions also offered insightful ways for the non store retailing firm to analyze their business performance and the engagements taking place on websites, such as the number of visits, traffic updates, and the performance of individual marketing channels. Moreover, the digital analytics solution helped the non store retailing company understand the pain points of the customers and accordingly allocate their marketing campaigns to analyze the user reviews and ratings.
Digital Analytics Solution Predictive Insights
With the help of Quantzig’s digital analytics solution, the non-store retailing company was able to witness a 20% increase in the organic traffic, which ultimately led to a gradual increase of 15% in their profit margins. The analytics solutions also helped the client categorize the customers into potential segments and streamline their marketing resources to target the right target audience through the right channel.