As any half decent data analyst will tell you, understanding consumer behaviour is imperative to the success of your business.
Knowing your customer base and their purchasing habits provides valuable insights that can help you to identify emerging trends, adapt to any changes in consumer behaviour, tailor your marketing messages to target specific groups, and a whole lot more.
But, how should you go about collecting this customer data and, most importantly, converting it into actionable insights?
Fortunately for you, technological advances over recent years have made it easier than ever to get accurate data that can be used to make real decisions in real time, saving your business time and money.
In this guide, we’ll cover everything you need to know about understanding consumer behaviours through technology, including:
- What consumer behaviour actually is
- Why understanding consumer behaviour is so important
- How technology can be used to help your business understand consumer behaviour
- And finally, how Reapp can help you to convert consumer data into actionable insights
At the end of the day, guesswork is hard work. And, let’s be honest, a total gamble.
That’s why Reapp uses cutting-edge image recognition technology and customisable reporting methods to give your business accurate and straightforward insights into what’s happening on your store’s shelves and beyond.
With up to 150,000 rows of data at your fingertips, you can convert these consumer insights into fully customised analytic dashboards at the touch of a button.
Our tailored reports and bespoke dashboards give you a clear view of how consumers are interacting with your products up and down the country, which will allow you to pinpoint opportunities for growth or quickly reposition activity that isn’t working.
So, what exactly is consumer behaviour and how does technology work to help us understand it? Without further ado, let’s get into it.
What is consumer behaviour?
In marketing, consumer behaviour refers to the actions and decisions that people make when purchasing or using products. It includes all parts of the customer journey, from the initial purchase decision to whether or not they will purchase it again in the future.
There are a number of factors that can influence consumer behaviour:
- Personal factors – such as the age, gender, and income of the consumer
- Social factors – if the consumer chooses a product based on recommendations from a friend or family member, for example
- Cultural factors – such as religion or tradition
- Psychological factors – based on things like motivation, perception, and research
Technology is also playing an increasingly important role in influencing the purchasing decisions that consumers make. As the role that technology plays in consumers’ daily decision making continues to grow, businesses will have to adapt by implementing technology-driven data insights if they want to win the business of potential customers and come out on top.
Consumer psychology is crucial to businesses as it helps them to understand why people make the decisions they do. These insights can be used to create more effective marketing strategies, adapt to changes, and even predict future consumer behaviour.
Why is it important to understand consumer behaviour?
For brands and retailers, there’s nothing more important than understanding consumer behaviours.
By understanding what products people purchase, what influences them to make their purchasing decisions, and how they use these products, businesses can adapt their offerings to better suit the needs and wants of their target audience whilst also minimising the wastage of time, money, and stock.
Having a clear and accurate understanding of the buying habits of your customers allows you to:
- Tailor your marketing efforts to target specific groups
- Improve customer loyalty
- Adapt to changes in consumer behaviour
- Identify emerging trends
- Effectively reduce stock wastage
- And much more
But how exactly do you effectively gather consumer insights and convert them into quantifiable data that can be used to action these improvements?
Well, that’s where analytic technology like Reapp comes in.
How can technology be used to help brands and retailers understand consumer behaviour?
In the modern world, it’s harder than ever for brands to keep up with constantly changing consumer preferences and come out on top in their respective industries. To remain competitive, companies must understand and adapt to these changes by taking a data-driven approach that’s based on much more than just anecdotal evidence, past performance, or gut instincts.
One of the most significant challenges for businesses today is having the ability to effectively bring together data from both the digital and physical worlds. Connecting the data from both of these worlds is essential to ensure businesses don’t fall behind and can make better informed strategic business decisions.
Reapp helps brands and retailers to smash their sales targets by gathering data from a wide range of digital and real-world sources. Our cutting-edge technology then simplifies this data into decisive sales actions at the shelf edge. This allows you to see exactly what your customers can’t get enough of, and what they would probably prefer to see less of.
Guesswork is a thing of the past with Reapp. With up to 150,000 rows of data at your fingertips, you can build dynamic customisable dashboards that tell you everything you need to know about your consumers.
Sound like something your business would benefit from? We think so, too. Treat yourself to a demo today.
Your customers are relying more and more heavily on technology, so why aren’t you?
We live in a digital era where smartphones, screens, and robots rule the world (not literally just yet, but we always say please and thank you to Alexa just in case).
Today, the consumer journey often begins with a digital experience. And these experiences are not limited to one specific channel, which makes them difficult to track. The customer experience has become increasingly digital at an even more rapid rate because of the pandemic, which has drastically reduced the level of footfall in physical stores.
So, what does this mean for a business like yours? We’re glad you asked.
It means that tracking your customers’ behaviours across all platforms is a must if you want to see the full picture and stay ahead of the market. Gleaning data insights from the shelf is an essential part of this process, but it’s equally important to combine this data with data from digital sources as well.
Leveraging the power of technology to give you visibility into the full consumer journey – including everything from preferred payment methods and movement between digital channels to literally what’s flying off the shelves and what’s not – will enable your business to deliver a truly connected experience across all platforms. This will help you to make accurate and informed sales decisions that take into account consumer behaviour both in the real world and online.
Reapp empowers businesses to collect and combine data from a broad range of sources, both digital and physical. Our advanced image recognition technology pulls insights directly from the store shelves, while customisable reporting methods merge this data with other consumer behaviour insights to give you a comprehensive overview of what products your target market are most interested in.
Our user-friendly data solutions allow you to position your brand on reliable statistics and reports, giving you the power to shape activity that will get proven results.
Convert your consumer data into actionable insights with Reapp
Great business decisions are built on accurate consumer insights. And accurate consumer insights are sourced by Reapp.
Reapp combines bespoke software, innovative technology, and industry smarts to deliver award-winning results for our clients.
In a nutshell, Reapp is a versatile analytics software tool designed to help businesses boost their sales and better manage their stock. Reapp uses fresh data from a wide range of sources to create automated reports that offer detailed insights into consumer behaviour, revolutionising the way your business makes its key sales and marketing decisions.
Our suite of unique software apps creates at-a-glance reports and dashboards at the click of a button, providing you with actionable sales and stock insights in a matter of seconds. You can even customise your reports however you choose, allowing you to drill deeper into the insights that matter most to you.
Investing in Reapp will give your business the ultimate edge when it comes to elevating your business strategy, streamlining inventory management, and planning in-store marketing campaigns.
The benefits speak for themselves, so what are you waiting for?
Book a demo with our friendly team today and glean accurate and actionable consumer insights at the touch of a button.