The Consumer Has Evolved – What about Knowledge of their Consumer Behavior?
Digitalization has transformed the way our world works, and the retail industry is not far behind. The impact of the transformation can be seen in the dramatic evolution of the way consumers shop, consumer behaviour and make purchasing decisions. With e-commerce, social media, and extensive use of mobile devices, consumers today have more access to information and choices than ever before. In India, this evolution of the consumer has been particularly pronounced, with the country’s e-commerce market expected to reach $200 billion by 2026. In this scenario, understanding the changing consumer landscape and evolving consumer expectations has become a non-negotiable for businesses. With multiple digital touchpoints generating volumes of consumer data, one of the ways you can address this issue is by leveraging big data analytics to gain insights into consumer behavior and preferences. These insights can help retailers to gain a deeper understanding of their ...