The power of new technologies serving retailers and brands
September 28, 2013
For the past few years, a new way to understand customers’ trends appeared: the feedback data mining. The cosmetic retailers use this method in order to know what their customers want and bring it on the market before their competitors.
These feedbacks are recovered through satisfaction surveys and habits studies. This is a renewal in terms of marketing and “savvy merchants can now harness the power of technology”. According to a 2012 Nielsen report, the consumers don’t trust as much as before the conventional communication channels and pay more attention to word-to-mouth, relatives’ recommendations or online consumer review.
However the retailers and the brands must be careful with this new resource, indeed the line is very thin between the useful and valuable tool, and the negative and annoying aspect of this practice. Moreover, some consumers are starting to be very careful concerning the information they communicate on the internet and it could be a limit of the data mining.Are you looking to export to Western Europe?