Grocery Retailers:
Customer data as an asset. Five things to consider.

POINT OF VIEW

Intro

Retailers sit on an extremely valuable asset in the form of their customer data. This data allows retailers to create a comprehensive view of the customer – and to work with suppliers to optimise their merchandising and marketing activities. Additionally, it provides an opportunity for retailers to create an incremental revenue stream by commercialising their data.

However, suppliers are often bombarded with requests to purchase retail data, which means – in order to stand out – retailers need to put together a commercialisation programme that offers the supplier genuine value.

Establish a consistent process and measurable KPIs for merchants and their suppliers to collaborate using customer data.