Marketers With a wealth of information.
The data are collected in quantities never designed by anyone, and enough time has passed that make decisions about what to do with all that information starts to come into focus. Marketers in most organizations are sitting on mountains of data, but often wonder how to put it to better use.
Here at Adobe, we are in a unique position to accumulate data, from $ 7.50 each $ 10.00 spent in line with the 500 largest US retailers through Adobe Marketing Cloud. This means that we have access to billions of web site visits and data on sales of resulting products. It is really Big Data, in a big way.
Thanks to all this data, marketers have a powerful new tool at their disposal to look at trends and develop strategies. The index of prices Adobe Digital (DPI) uses anonymous data from more than 15 billion website visits and 2.2 million sales of products online, track digital transactions more accurately than any other source current. By comparison, the consumer price index (CPI) is based on consumer surveys closer to actual sales in each product category, and trails only 87,000 products. The CIO uses actual transaction data to acquire an accurate count of purchased quantities and captures data in real time.
This is an unprecedented use of Big Data, and it starts to show interesting results.
Deflation, not inflation
For example, although the Federal Reserve has been looking for inflation, it seems that most categories tracked by the CIO -. Especially in non-discretionary categories – presented the deflation year after year. Even for Pokémon merchandise brand, which has recently seen a significant increase in demand, prices declined in July.
Sales of items Pokemon-brand such as clothing, electronics and toys have increased by 86%, 210% and 170% respectively in July, but prices have shown an overall decrease. One possible cause of this fall in prices is that retailers are competing heavily for online businesses in a world of comparison shopping has become the norm.
This could be a sign for traders as they plan their campaigns of the holiday season. Even when demand increases, there may be too much competition in some sectors and prices may have to fall.
Huge Growth in online grocery sales.
The online sale of groceries has experienced tremendous growth for July, and prices are down as well. The significant growth of the volume of groceries being purchased online is powered by the option increasingly popular online shopping and pick up at the store.
This is a particularly interesting trend and could be a good example of how a brick and mortar store might collaborate with their counterparts online. A customer who comes into the store to pick up products ordered online could see other things they need. This trend for in-store pickup also shows the need to integrate your site, offline, and mobile platforms so they can share information with each other, allowing to place orders on multiple channels.
online grocery Data is an excellent example of the scale datasets discussed here. It is based on a 300 million visits analysis to websites grocery sales in January 2014 and July 2016, covering about 30 -. Percent 40% of all online grocery shopping for about 195,000 products
Not all prices, however, fell in July. In the US, the yoy prices have increased, Nevada showing the highest increases (probably due to new hotel parking charges in Las Vegas).
PGD allows marketers to see their data from a very different perspective, and it can easily confirm, strengthen, or identify new trends that could affect marketing strategies. The increase in grocery shopping online and in stores, for example, could be an indication that the competition on the basis of convenience becomes as important as the price. Identify and respond to trends like these in real time could become the mark of a successful marketing campaign.