QAS, an Experian Co.
As retailers continue to work on creating an organization revolved around the consumer and the omnichannel environment, there are new challenges to consider. These are especially true around consumer intelligence and accurate data.
Data has become mainstream, with multiple departments using terms like business intelligence or big data. Many retailers are realizing benefits to leveraging information effectively, which could be the reason behind this shift in analytical responsibilities. Harnessing intelligence improves staff efficiency and consumer interaction, allowing retailers to provide better offers and enhance the customer experience.
The retail industry is shifting the way in which contact data is collected, used and prioritized. With this shift, businesses are using contact data for more than just mailings. While shipment deliverability and marketing offers are still important, retailers are increasingly using contact data to create a strategy centered on the customer.
The rise of the digital consumer allows retailers to collect more information — across more channels — than ever before. Download this research report from Experian QAS to find out how retailers are enhancing customer-centric strategies to better unite data and target consumers. The research illustrates how retailers currently perceive their own data and discusses new strategies for success. Download now.
Retail e-commerce sales continued to skyrocket in 2011. While seemingly great news for retailers, it does create additional inefficiencies in a fulfillment system and drive up operational costs. To prevent those costs from cutting into revenue, retailers need to make sure they're running as efficiently as possible. One way to improve fulfillment efficiency is through accurate contact data.
Experian QAS released a new benchmark report on the data quality practices of top online retailers. The report reveals that 72 percent of the top 100 retailers are using some form of address verification during online checkout. "Year over year, we are seeing the incidence of real-time address verification growing among retailers," said Thomas Schutz, senior vice president, general manager of Experian QAS.
Retailers everywhere are looking to reach prospects and customers to ensure their products end up under the tree this year. There are many different philosophies on how to achieve this goal, but one consistent requirement is accurate contact data. A recent Experian QAS survey found that 99 percent of respondents waste budget on inaccurate contact data, hurting operational efficiency and communication effectiveness, especially during the holiday rush.
Shoppers are demanding more from retailers as a shift is taking place in terms of how consumers want to interact with their favorite brands. Retailers must worry about brick-and-mortar stores and e-commerce sites, but also mobile apps and social media developments.
Experian QAS, a provider of address verification software and services, announced the release of The Dilemma of Multichannel Contact Data Accuracy. The report examines current attitudes toward contact data quality and provides advice on how to collect data accurately through multiple channels.
With over 1.4 billion users of email, it's not surprising that businesses are using this channel for more communications. Email is relatively inexpensive and generates a high return on investment, with the Direct Marketing Association estimating a 43 to one return on every dollar spent on email marketing campaigns.