For retailers, the only thing more valuable than a sale is information about potential buyers. There are tons of advanced tools available for online retailers. However, many e-commerce brands have begun to learn the value in gathering customer data through in-store interactions. With Amazon’s recent Whole Foods acquisition announcement and brands like Fabletics finding success in physical stores, it’s becoming clear that brand building offline might be a major influencer to successful sales online.
The e-commerce industry is expected to grow around 10% this year, but it still only accounts for just over 10% of the retail industry. With nearly 90% of purchases still being made in-store, it’s no surprise that larger companies and brands are exploring the brick-and-mortar space. For Kate Hudson’s e-commerce athleticwear brand Fabletics, the markets that see the most success have brick-and-mortar shops. The data gathered via customer interactions in physical shops is invaluable information for their storefront storefront. Opening a storefront is a costly operation, but from a data point of view, the information and research gathered in-store is priceless.
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