Tag: Customer intelligence assessment

future of retail

Role of Customer Intelligence in the Future of Retail

“Winning brands in the future of retail will be those that have the best customer intelligence.”

The future of retail is closely intertwined with an evolving customer journey that is being largely transformed by technology. Today’s consumers are more connected and empowered than ever before, ergo they demand retail experiences that are relevant, real-time, and seamless from screen to store. To be successful amidst such changing retail scenarios, retail companies must have an in-depth and unified understanding of their customers at a personal level. This is where the role of customer intelligence comes into play.

What is customer intelligence?

Customer Intelligence refers to the information derived from customer data that is collected through both internal (generated through interactions with the customer) and external sources (demographic data like age, income, and occupation). The key purpose of customer intelligence is to better understand customers by analyzing their buying patterns and their key motivators of purchase to drive future growth of the business.

The future of retail lies in providing exceptional customer experience regardless of whether your store is online or offline. Request a free proposal to know how Infiniti’s solutions can help your business gain a deeper understanding of your customer base and choose the right strategies to cater to them.

Customer intelligence in the future of retail

future of retail

We have reached a point where the future of retail will largely revolve around customer experiences. Customer intelligence solutions play a vital role in helping retailers identify what their customers want and the best strategies to cater to customer needs. Retail industry experts at Infiniti believe that customer intelligence will be vital for the future of retail due to the following reasons:

Growing rate of informed customers

Modern customers have unlimited access to information. They also have adequate knowledge about a brand, their products or services, and also about the competitor brands. Study shows that a fair majority of today’s customers are more likely to shift brands within a week of experiencing a bad customer service. The future of retail will largely be dominated by demanding customers, and businesses that choose to ignore them will be risking a PR disaster. Customer intelligence is the best chance available for retailers to understand its customers and ensure better customer service.

Get in touch with our retail industry experts for more insights on Infiniti’s solutions for retailers.

Personalized rewards and discounts

Customer intelligence is a great tool for retailers who want to reward their loyal customers with personalized rewards and discounts. IoT will play a significant role in the future of retail to help retailers achieve this. Loyal customers can be sent personalized discounts using sensors located in the store.  These sensors can detect when customers are near certain products and then alert customers of a special discount via their smartphones. Such strategies of understanding customers and giving them discounts on the products that they regularly shop will result in customer delight and such techniques will eventually go mainstream in the future of retail.

Better supply chain management

Retail customers are increasingly demanding faster delivery of high-quality products. Customer intelligence solutions can help optimize speed and accuracy through the supply chain. With the help of customer intelligence retailers can predict what products will be in demand during a particular time period. Every component of the supply chain, starting from planning to production to the return can be optimized for efficiency in advance.

Visualize real-time market changes

Understanding the market and customer needs is one of the key challenges faced by retailers. In a crowded industry like retail, it means that even a tiny break in monitoring the market can cause a huge setback in terms of acquiring new customers, revenues, and ensuring overall customer satisfaction. Customer intelligence solutions provide retailers with actionable insights from a stream of steady data. The customer data lets brands comprehend broader market trends and integrate predictive analytics and best practices into their business.

Learn more about Infiniti’s market intelligence solutions and gain an overview of how we help our clients with tailor-made solutions to suit their business needs.

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4 Customer Experience Management Trends to Keep an Eye On in 2019

What is customer experience management?

Customer experience management involves managing customer interaction through both physical and digital touchpoints in order to deliver personalized customer experiences. This helps drive customer loyalty and boosts revenue. Although companies can make efforts to guide customer journeys, they cannot absolutely dictate it to customers. Customer-centric organizations leverage behavioral data, marketing technologies, and customer insights to optimize customer journeys and thereby ensure better customer experience management.

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We, at Infiniti Research, use a combination of research, analytics, and data management systems to help our clients manage data, serve relevant content to target customers, and predict future interactions. Request a brochure to know more about Infiniti’s customer intelligence solutions.

Customer experience management trends

Several transformation triggers including globalization, digitization, and economic changes have the power to dramatically impact customer interactions with a brand and influence their decision-making. So, while formulation a customer experience management strategy, companies must take these factors into consideration. Here are four customer experience management predictions for 2019 from Infiniti Research:

Hyper-personalization at every touchpoint

 One of the key recent trends in customer expectations is the increasing need for personalization in product/services. Today, hyper-personalization forms a key element of customer experience and satisfaction. As a part of their customer experience management strategy, forward-thinking companies are using data and analytics for (near) real-time personalization. Today, customers are inundated with advertisements and multimedia content on different platforms. This makes it crucial for brands to not add irrelevant noise to their content, rather, define ways to stand out from the crowd.

Still have doubts on how customer experience management strategies can benefit your organization? Request a free proposal to find out!

Organization-wide customer focus

In most cases, hiring a chief customer officer is not enough to deliver impeccable customer experience. The most successful brands in customer experience management are those who establish an organization-wide customer-experience mindset. Top companies like Amazon are thinking about customer experience in everything they do including marketing, supply chain, infrastructure, logistics, and product design.

Robotic Process Automation (RPA)

Robotic Process Automation, also known as RPA involves the use of machines to automate repetitive and mundane tasks, helping businesses to increase efficiency and decrease costs. Moreover, this gives the human resources of a company to focus on tasks such as innovation, problem-solving, creativity, and customer experience management research and analysis.

Data ethics

One of the most popular customer experience management trends to watch out for this year is the rising need for data privacy and ethics. With the introduction of the General Data Protection Regulation
(GDPR) law that gives customers power over their personal data, companies have to be more cautious than ever on the compliance with such regulations. This law has changed the way companies handle customer data which has now transitioned from a business asset to the customers’ property. Facebook data ethics scandal in the recent past is proof that such instances can hurt a company’s image in the public eye and eventually lose customer trust. Customers want great customer experiences from brands they can trust. So, building customer trust by maintaining their privacy and data security is now one an essential customer experience management trend.

Know more about why customer experience management is important for your business. REQUEST MORE INFO

IR23

Infiniti’s Competitive Intelligence Engagement Assists a Renowned Food Packaging Client to Improve their Competitive Effectiveness

It is estimated that the food packaging sector accounts for over one-third of the total global packaging market.

Despite the mounting pressures and sluggish economic growth, companies in the food packaging industry are focusing on investing in technologies to improve the shelf-life of the products. The food packaging market can be segmented into applications such as convenience foods, confectionary items, dairy items, and vegetables. As the world is experiencing rapid changes in the lifestyle and food preferences, prominent companies are setting up new production facilities to keep up with the latest trends in the market. The growth of the food packaging industry can be attributed to factors such as the rising disposable income of the people, the growing demand for ready-to-eat products, and growing awareness about packaged foods.

Although, food packaging plays a critical role in attracting the customers when choosing similar brands, several factors that may hinder the growth of the industry include.

  • Relentless innovations: In this challenging environment, food packaging companies are constantly trying to innovate to stay relevant and differentiate their product offerings in the market. With the changing preferences of the customers, packaging companies need to differentiate their products using different size, shape, color, and functionality in their packaging design. Therefore, it becomes a challenge for the packaging companies to invest in new equipment and machinery to keep pace with these changes.
  • Rising cost of raw materials: For packaging to be more rigid and preserve the nutritional aspects of the food, raw materials such as plastics, paperboard, and adhesives are extensively used. Amid the recent great economic depression, the packaging industry has been affected by increasing prices of these raw materials.
  • Sustainability challenges: As the packaging industry relies on raw materials that are considered to be harmful to the environment, various government organizations and environmental groups are voicing their concerns toward the use of these products. Therefore, packaging companies are facing the need to invest in packaging disposal and recycling techniques to reduce emission concerns.

While the rising environmental pollution and global warming are compelling packaging companies to shift towards more eco-friendly food packaging techniques, the companies should also think about devising effective strategies to stay abreast of the competition. The ideal way to understand the current market scenario is through profiling the competitors and their respective position in the packaging industry with the help of an effective competitive intelligence solution.IR_RFP

The Business Challenge

  • The client- A renowned food packaging client

A renowned client in the food packaging industry wanted to identify the latest packaging trends and collect and analyze actionable information about the competitors and their product offerings to devise a robust business strategy. The food packaging company wanted to discover the potential risks and opportunities and gain unique marketing insights to improve their market share and enhance the business performance. With the help of a competitive intelligence engagement, the food packaging company wanted to understand the supply-demand relationship and effectively suggest suitable measures to improve their service efficiency.

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Our Journey

To keep track of their competitors and their product offerings, the competitive intelligence experts at Infiniti carried out extensive research comprising interviews and discussions with stakeholders in the packaging industry. Furthermore, to conduct a SWOT analysis, the client also collated information across a wide array of secondary sources such as trade shows, paid industry databases, and company presentations.

The Solution Benefits and the Business Impact

With years of expertise in offering a plethora of services, Infiniti’s competitive intelligence solution helped the food packaging company ascertain the demand for the products and services and judge the market’s likely response to a new entrant. The food packaging company was able to gain a quick and concise view of the market to make better decisions on their product positioning and marketing strategy.

The Future

In the future, prominent packaging companies are planning to shift toward green packaging techniques to reduce the rising environmental concerns. Moreover, with the advances in the technology, packaging companies will also shift toward smart packaging techniques such as RFID technology to streamline their supply chain efficiency and keep track of their products in real-time.


 A must-read case study for strategy specialists and decision makers looking to develop an understanding of the food packaging market.

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IR28

Infiniti’s Market Intelligence Solution Enables a Renowned Product Packaging Client to Promote Marketing Effectiveness and Improve Business Efficiency

The product packaging market is driven by the extensive demand for convenience food and the increasing awareness of packaged foods.

Today, the demand for fresh produce is out-pacing the production rate with the role of packaging in the protection and marketing of consumer products gaining prominence among the suppliers. The growth of the product packaging market can be attributed to factors such as the increasing nutritional awareness and the growing preference for ready to eat products. In addition, consumers’ demand for food products in small-sized and convenient packages is compelling manufacturers to shift towards active and smart packaging techniques, which will subsequently help increase the shelf life of the food products. Moreover, the radical shift toward lightweight, comparatively low cost, and decent protective performance will promote the growth of the product packaging market.

Although the population boom and the availability of ready-to-eat products may influence the growth of the industry, several factors may hinder the performance of the industry. They include:

  • Keeping up with the technological changes: The rising competition is paving the way for competitors who are trying to meet the changing consumers’ demands. Companies are facing the need to redefine their packaging techniques to improve the size, shape, and functionality of the packaging material. To keep pace with the changing needs, manufacturers in the product packaging space have to invest in new machinery and infrastructure.
  • Increasing cost of raw materials: The raw materials involved in packaging include plastics, resins, paper, paperboard, and adhesives, which are the victim of fluctuating raw material prices. Also, polypropylene has witnessed a considerable hit due to the reduction in the supply of the material.
  • Sustainability challenges: The wastage associated with the packaging industry is becoming a major concern among the consumers and the regulatory bodies. Most of the ingredients used in product packaging are difficult to recycle; and this becomes a concern for manufacturers to reduce wastage and improve packaging

While product packaging finds a prominent position among the health-conscious consumers and consumers looking for ready-to-eat products, reaching out to these target audiences will be the matter of concern for most packaging companies. Therefore, organizations should take effective measures to ensure that they identify the segments who are looking for fresh produce and allocate their marketing resources to meet their requirements. To attain their goals, companies should come forward and leverage market intelligence solutions.IR_RFP

The Business Challenge

  • The client- A product packaging client with numerous service offerings

To assess the competition in the market, a renowned product packaging client wanted to gain an understanding of the latest packaging trends and take effective decisions through the synthesis of market information. The product packaging client wanted to create a broad picture of the existing market, customers, problems, and the competition while keeping abreast of the latest technologies. With the help of an effective market intelligence engagement, the product packaging client needed to identify the growth opportunities and develop a comprehensive strategy focusing on the latest packaging trends and their strengths and weaknesses.

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Our Journey

To identify potential challenges and gain a better understanding of the packaging trends, the market intelligence experts at Infiniti carried out extensive research comprising interviews and discussions with prominent stakeholders in the product packaging space. The client also gained adequate information across published sources such as paid industry databases, trade shows, and company presentations.

The Solution Benefits and the Business Impact

Many businesses leverage the use of market intelligence to understand the current packaging trends and keep up to date with the developments in the product packaging space. The market intelligence solution offered by Infiniti offered relative insights into questions such as the current potential customers and competitors. The product packaging client was able to increase their competitive advantage and make better-informed business decisions.

The Future

With the growing social and environmental concerns, packaging companies will witness the use of smart and sustainable packaging techniques to drive change. The packaging industry will include smart packaging techniques such as RFID technology for electronic tagging, tracking of stock, and better recycling methods such as biodegradable packaging.


A must-read case study for strategy specialists and decision makers looking to develop a better understanding of the applications in the packaging industry

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Customer Segmentation Helps a Renowned Powder Coatings Supplier Analyze Customer Perceptions toward the Brand

Over the next five years, chemical suppliers are planning to invest 5% of their revenue on digitization.

The recent years have witnessed a considerable demand for powder coatings, owing to the growing technological advancements and the increasing demand for applications such as appliances, automotive, and construction. Since powder coatings are a type of volatile organic compound and solvent-free, prominent companies are preferring such coatings over liquid coatings. Additional benefits associated with the product such as superior durability, scratch resistance, gloss retention, and resistance to chalking are augmenting the demand for powder coatings among the end-user segments. The growth of the powder coatings space can be attributed to factors such as growing population, increasing disposable incomes, and favorable government regulations.

Let’s look at some of the key chemical industry trends that are influencing the demand for powder coatings:

  • Growing demand among the end-user segments: Over the years, the consumer goods industry has witnessed the highest demand for powder coatings, owing to the consistent and flexible finish offered by this product. Also, the rising demand for commodities such as washing machines, freezer cabinet, and microwave oven is likely to stimulate the adoption of the powder coatings space.
  • Rising economies: The rising demand for powder coatings can be attributed to the increasing demand for consumables among economies such as India, Brazil, and China. The industry will also witness a growing demand for powder coatings in the Asia-pacific region.
  • Accelerating automotive production: The global automotive production has increased considerably over the last couple of decades, which will subsequently increase the consumption of powder coatings. The rising automotive production coupled with the growing OEM market will drive the usage of powder coatings over the years.

Such factors coupled with the rising demand from end-use industries will spur the adoption of powder coatings. Over the next couple of years, chemical suppliers will face the need to confront the relentless needs of the customers while increasing their business performance. Since customers remain the pillar for the sustenance of any organization, implementing a customer segmentation solution will help cIR_RFPompanies target their most desirable audiences and improve their overall service efficiency.

Client Overview and the Business Challenge

  • The client- A powder coatings supplier

A renowned chemical supplier wanted to profile the most suitable customer segments and divide the customers into groups to adequately redefine their marketing campaigns. The chemical supplier wanted to leverage the use of customer segmentation solutions to gain a deeper understanding of the customers’ preferences and needs when it comes to powder coatings.

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Our Journey

The customer segmentation experts at Infiniti carried out extensive research comprising interviews and discussions with prominent stakeholders in the chemical industry to identify the key differentiators. To stay a step ahead of the competitors, the chemical industry experts also compiled information from reliable sources such as trade shows, trade industry databases, and company presentations.

The Solution Benefit and the Business Impact

Implementing a customer segmentation solution helped the powder coatings supplier to gain adequate insights into the latest chemical industry trends and segregate customers into measurable segments based on their needs, behaviors, and demographics. The chemical supplier was able to establish and maintain better relationships with the end-users and identify the most profitable segments to adjust their marketing budgets accordingly. In addition, the customer segmentation solution also helped the chemical supplier create and communicate targeted marketing messages that resonates with a specific group of customers.

The Future

Digitization will drive a tremendous wave of innovations in the chemical industry. Moreover, additional technological advances in terms of the Internet of Things, machine learning, and blockchain technology will further stimulate the growth of the chemical industry and intensify the level of competition among chemical suppliers.


A must-read case study for chemical industry strategy specialists and decision makers looking to develop a better understanding of the customer preferences in the powder coatings space.

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