EXECUTIVE SUMMARY: Big Data is all about understanding the individual consumer. This understanding will enable retailers to deliver the right information and service to the right customer at the right time, via the channel of their preference. In this report the largest retail commerce chain in Denmark, Coop, is analyzed with regards to their use of Big Data and push messages. Coop is part of a national retail market that is overflowing with brick-and-mortar stores – and more are on their way. At the same time e-commerce is booming which puts more pressure on the brick-and-mortar retailers to find new ways of drawing the attention of the consumer. The customer relationship needs to be improved through better service and by delivering better information about products and offers. The analysis is focused on consumer behavior and how using Big Data techniques and technologies can improve the information flow by using existing as well as new infrastructure to target consumers in a better and more advanced way. The omni-channel approach will give consumers the best possible shopping experience. The overall scope is to strengthen the customer relationship by individualizing and personalizing information pushed to the customer. Using the existing technology of email and SMS marketing an experiment is conducted to see if this type of marketing can support this – and how Big Data could eventually improve customer satisfaction and increase loyalty. The analysis also shows that new generations will expect retailers to be omni-channel and that more and more commerce will become mobile. Other technologies like beacons are also discussed for proximity marketing. Combining Big Data with proximity marketing would position Coop as the leading retailer in Denmark and using the existing SMS marketing platform could pull the consumers towards this new technology. The conclusions are that Big Data is not yet used enough in Danish retail commerce as well as in Coop but this also represents an opportunity. It would require as paradigm shift to focus more on data-driven decision making rather the gut feelings. The consumer wants relevant and personalized information and this would strengthen satisfaction and loyalty towards the brand. 6 EXECUTIVE SUMMARY Management must focus on Big Data to utilize this in the decision making process. Also an omni-channel strategy has to be created. Marketing should then become more automated on a per consumer level with personalized information on products and services. Good data scientists must be found and talents nursed to deliver the best possible analyses and in realtime. Push messages does have a future in retail commerce, especially in m-commerce but management must embrace the new technologies.
|Educations||Graduate Diploma in Management Accounting and Process Management, (Diploma Programme) Final Thesis|
|Number of pages||102|