In this volume, we discuss Data Mining and The Birthday Paradox.
‘Tis the season that many retailers look to tactics and strategies to programmatically maximize their e-commerce conversion, and customer value pre-peak. These new innovations are critical for success, but always include a bit of risk. Are there any “tried-and-true” approaches we can confidently implement pre-peak with 100% certainty?
Big Data has become the subject of Big Hype, much as Social Media and Mobile were recently. Our goal today is to peel back the hype and discover some of the key principles behind Big Data so we can make the best possible decisions about when, where, and how to apply it.
It’s not just pure-plays leading the way in ecommerce evolution, bricks-and-mortar retailers are fast becoming bonafide etail experts. Matthew Valentine outlines the key trends emerging.
The ecommerce channel continues to evolve as shoppers’ use of technology develops. Here we outline five of the
key trends retailers need to know about now.
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The explosive growth of transactional and online shopper data means consumers are swamped with information. In just one internet minute, there are now 2m Google search queries, £83,000 in sales on Amazon.co.uk, 100,000 new Tweets and 6m Facebook views.
The retail industry is no exception. Whilst in-store product ranges are limited by the physical constraints of shelf-space, online retailers can display ten times the amount of products on their sites.
This leaves consumers with overwhelming choice. Yet research shows that most products are going un-noticed. As highlighted in a study undertaken by RichRelevance, only 44% of products online are getting attention; leaving 56% bypassed…
For those of you who live in a data cave on the West Coast like I do, it may come as a surprise that there was a blizzard this past weekend—a BIG one. The ‘Nemo’ blizzard, caused by a merging of two low pressure systems that originated in the central and southeast US, then migrated to the north-eastern seaboard—affected millions of people in the US Northeast, with heavy snow and multiple power-outages.
iOS accounts for 85 per cent of purchases in December.
Throughout December, online retail personalisation provider RichRelevance analysed more than 322m visits to retail websites including John Lewis, Marks & Spencer, and more.
Visits from mobile were at at 19 per cent on December 1st, peaking at 28 per cent on Christmas Day, while 25 per cent of visits came from mobile devices on Boxing Day, presumably as shoppers sought out sales bargains.