You aren’t alone. Recently, SMS Research polled over 180 respondents and here are the top findings regarding customer behavior data in the 2020 Retail & CPG Customer Behavior Survey. There are dozens of findings to this survey, in this blog series we’ll highlight our top findings when compared across two industries including, Retail/ eCommerce and Consumer Packaged Goods (CPG) brands.
The vast majority of companies want a lot more customer behavior data now and in the future.
Nearly 90% of Retailer and CPG companies think that the next big thing for their industries is customer behavior analytics. This is not surprising, if the trend for companies to identify the best-performing cohort or their customer lifetime value (LTV) is considered
- 93% of these companies want to track customer behavior data to help them compete in today’s crowded marketplaces.
- 88% of companies consider customer behavior analytics data to be a strong priority for their organizations today
- Over 93% expect this to continue to be a strong priority for their organizations in the future.
Knowing what customers want is always great information to have.
“My company doesn’t really use customer analytics to judge the company’s direction. We notice trends in sales but other than that we don’t collect a lot of data involving the consumer.”
Stay tuned for tomorrow’s insight on why technology is holding up this process.
Read more survey results here.