“It’s like the blind leading the blind” – This is what we call a business strategy that’s built on assumptions and outdated research. Harsh as it sounds, strategies as such can’t be compared to a well calculated data-driven strategy that operates on a magnitude of insights and educated decisions. Data not only helps attract shoppers but it also keeps them.
This is why at Adyen, we provide our merchants with a full dashboard that combines offline and online shopping data. It goes without saying, having the full visibility of real-time data is a powerful tool.
When we say data is a powerful tool, this is what we mean:
It keeps things personal
Latest statistics show that the average person gets bombarded by around 6,000 to 10,000 ads a day. This striking fact bares the question, how can a campaign or a messaging stand out from the crowd of continuous ads? Having your shoppers data gives the opportunity to personalise campaigns, ads, emails, etc. According to our 2022 Retail Report 70 percent of UAE consumers like it when retailers serve personalised advertisements.
Personalisation does not end here, data can also factor efficiency into loyalty programs. Shoppers can gain points automatically when paying and gone are the days of asking for phone numbers at the counter.
It offers timely insights
Understanding shoppers from research is helpful, but how long does it take till a research is considered outdated. Given the fast pace of shopping trends, shoppers’ behaviour changes and evolves. Data reveals the current trends and what’s changing right now.
Adyen’s merchants have access to a dashboard showcasing the payment behaviour the moment it happens. They have real-time access to frequent purchases, sales channel performances, preferred payment methods, and more.
It allows for better decisions
Where are the shoppers ordering from? Which region will attract the most shoppers? Data analysis can help your team make more mindful decisions and not only understand which region or area would be ideal for the next store opening, but also what trends and needs this location might propose.
Data can help draw the big picture, it should not be looked at in silo’s instead shoppers data need to be unified. Data analysis is more practical when combined, as every business stumbles upon a large amount of valuable insights from in-store payment, online shopping and more, it’s vital for this data to be looked at from a unified dashboard.