It’s a whole new ball game for the American sporting goods industry. The following use cases reveal some ways in which modern sporting goods retailers are applying a combination of internal data, competitor pricing and assortment data, as well as search data, product reviews and social media signals to accomplish three fundamental goals: optimize product assortment, improve price competitiveness and increase web traffic and conversion through coupon campaigns. They decided to fully embrace big data and started collecting external e-demand signals, as well as online competitive information, and blended all of that with the company’s web analytics and transaction data.
Key Takeaways:
- optimize product assortment, improve price competitiveness and increase web traffic and conversion through coupon campaigns.
- Pricing decisions presented a challenge, since the retailer didn’t have timely and accurate data about the competition.
- Digital coupon promotions can be immensely helpful in attracting new and existing customers to e-commerce websites.
“By adopting a data-driven analytics approach to optimize product assortment, improve price competitiveness and increase web traffic and conversion for campaigns, companies can be armed and ready to face their competition in the ever-changing sporting goods industry.”
http://www.the-future-of-commerce.com/2016/08/30/data-analytics-sports-retailers-strategy/
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