Lokesh Anand Lokesh Anand
Lokesh is the cofounder and CEO of Sigmoid. He has a vast experience across technology & FMCG domains in project management & operations.
Lokesh Anand
He is the cofounder and CEO of Sigmoid.
3 Ways Designers can use Data to their Advantage

The holiday season has just got over, and everyone has unpacked presents, polished off kilos of cake, and is getting ready to usher in another year. But if you are an apparel retailer, you probably are looking at numbers from the sales over the new year, and thinking how you can get them to jump up next time. You have probably realised by now that the old tricks of promotions and advertising aren’t doing much to aid the bottom line significantly. Customers have changed, brand loyalty has withered, and there are a lot of little companies trying to undercut you both on quality and price.

But there still are ways by which you can get back at those margins and targets. The same technology that has been undercutting you actually can be used to gain intelligence and data into shopping behaviour that can help you plan your sales better.

Here’s the top 3 suggestions from our side

  1. Use your historical data

Every store has a dump of data of consumer behaviour and decisions, and even if what you have is single layered, you can still derive insights from it that you can use in day to day decisions that will push up sales. For example, if you find that a certain kind of sports jersey shoots up on certain days of the month, you can correlate that to say, a sports telecast, and make sure that you stock up on them on schedule, and also make sure that you get targeted promotions on at the same time to encourage shoppers.

  1. Customer research

If your data can tell you what kind of audience are regulars at your store, you can figure out what you need to show them, and what you can afford to keep away. Sure, qualitative research can give you these insights, but can it tell you specific age groups and seasonal trends? As with everything, there are several layers beneath which are hidden actual insights you can use. To get at them you may need to employ surveys with customers as well as store staff. All this will yield data that you can use to target promotions or stock inventory.

  1. In-store tests

Surveys, though very useful, are always susceptible to bias, and therefore using them in isolation will not give retailers the insights, or the results they need, This is why combining them with in-store tests will bring out data points that will be of much more use to the decision maker. The way a consumer moves around the store, the way different apparel placements influence his/her choices, how promotions and product placements affect them, are all data points, and can be used to figure out how to plan for the next sale.

Using data and analytics to scale up marketing is now more the norm than an innovation these days. If you haven’t done it yet, you really should. And these days, it’s easier than ever to get yourself a dashboard that can help you take data-aided decisions instantly. Ask me how, and I’ll be happy to tell you. I do this for a living, you know.

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By | 2018-05-03T09:58:27+00:00 April 20th, 2016|Business, Creative|