Recently, RGI was asked their opinion on top trends in the industry that will be crucial in 2013. One of the market trends we feel will be extremely important is the idea of Big Data. Big Data is data used to drive better/smarter decisions and create insights with improved analytics by recognizing human patterns in numbers to improve customer experiences. Big data allows for narrowing the target market to be able to tailor products, services and promotions to each customer. The use of Big Data will benefit the shopper at least equally, if not more than the brand/retailer. The information collected and analyzed will allow retailers and CPGs the opportunity to establish one-on-one relationships with their consumers. CPGs can use the data to help consumers shop better and shop smarter.
While there are several mobile trends that are creating excitement and disruption in marketing, the greatest potential lies in the ability to utilize the immense behavioral data coming from Smartphone users. Recent research shows that most Smartphone users have an emotional relationship with their Smartphone. Beyond a communication tool, it often holds information, photos, etc. of a highly personal nature; people are using their phones to enhance their lives. This new reality creates opportunity to engage shoppers in more personal ways. While marketers have been collecting loyalty data for years, and getting great value from it, Big Data adds dimensions of real-time and location to that. Combined with the unique engagement vehicle that mobile brings, CPGs and retailers have a real opportunity to engage their shoppers at the coveted "Zero Moment of Truth" in the purchase cycle.