What is Retail DnA?

Get closer to your customers. Understand their behavior. Produce targeted campaigns, to specific customers, right when they want them. With Retail DnA’s sophisticated data and analytics platform, you can access the value of your customer information, creating interventions and actions that engage customers and optimize purchasing activity to drive revenue.

EY - Retail DnA

Closing the retail customer insights gap

These days, competitive advantage comes from understanding each customer intimately, predicting what they want next and delivering it to them.

EY - Closing the retail customer insights gap

Retail DnA gives you the power to understand each and every customer based on their behavior.

With machine learning smarts, beautiful visualizations and a user friendly interface, Retail DnA uses your customer data to form naturally occurring ‘behavior clusters’ (or personas).

This transcends traditional demographic profiling and gives you an unbiased view of your customers based on what they actually do, not who they are.

Retail DnA also accurately predicts next customer action and advises on next best offer.

This frees your sales and marketing team up to design and deliver the right offers, at the right time, through the right channels. The result is increased sales as well as higher customer engagement and deeper brand loyalty.

Single view of customer

EY - Persona sizes

EY - Proportion of sales

Fast Facts

We spoke to retailers around the globe to learn about their data challenges and find where the opportunities are for businesses seeking a competitive advantage.

1 Only 7% of retailers can innovate to meet the changing needs of their customers.

2 Just 9% can keep up with the fast-paced changes in tech on offer.

3 Only 11% are confident they can drive actionable insights from data.

4 Only 28% say they know how to stay relevant.

5 Only 5% think their customers remain loyal.

6 87% of retailers believe a loyalty strategy is critical to their business strategy.

7 Only 27% feel their loyalty initiatives make a positive difference.

8 80% say a one size fits all approach damages profitability.

9 Less than half (44%) can measure the ROI of their loyalty initiatives.

10 74% don’t enhance their data to improve customer experience and boost loyalty.

Value realized across all types of retail

Finance

In the competitive and regulated space of financial services, relating to your customers and offering appropriate, targeted offers can be the beginning of a lifelong relationship. The key to maintaining that relationship is managing your customers as their financial needs change. Not only can Retail DnA show finance retailers who is engaging with their products, how and when, but can also show customers’ next likely action, so you can be there with an offer, before the customer even knows they want it.

Insurance

For insurers, retention is key. Holding on to customers through policy renewal is a crucial element of insurance retailer sustainability. Retail DnA can help insurers understand more about their customers, such as who is considering leaving, and when. Insurers can then target communications and continue their conversation with that customer, preventing loss to a competitor and allowing opportunities for cross- and up-sell.

Health

In an incredibly broad sector like health, understanding your customer intimately is critical. Health retailers may stock multiple ranges of products, from pharmacy, vitamins, supplements, and natural health, to fitness, apparel and food, with customers purchasing across all, some or single product ranges. Customer clusters reveal patterns of behavior, allowing health retailers to create specific campaigns to reveal new products, share special offers, and educate customers about topics that they know will be of interest. This proves to your customers that you know who they are and what they want, resulting in a more engaged, and dedicated customer base.

B2B

Just because your customers aren’t individuals, doesn’t mean they don’t exhibit behavior. Retail DnA is just as effective at commercial customer data analysis, meaning B2B retailers can also benefit from the array of insights the platform makes available. In the business world, this makes great sense because you never waste your customers’ valuable time (and your money) with communications and offers that will lead nowhere. Retail DnA will help you hone your campaigns, meet your targets, and help your customers meet theirs.

Whitepaper: Creating Insights – how customer data can transform loyalty

Engaging customers, maintaining loyalty and stimulating ongoing purchasing behavior remains possible in the highly charged, increasingly turbulent retail space. Find out how your customer data holds the answers to creating insight and value that lead to greater customer retention, improved revenue and long-term business success.

Download the whitepaper to learn more.

Meet the team

EY - James Bradshaw

James Bradshaw

Consumer Products & Retail Leader
Partner EY Data & Analytics
EY Business Solutions Pty Ltd
+61 412 673 147
EY - Shing Lau

Shing Lau

Retail DnA Technical Leader
Manager EY Data & Analytics
EY Business Solutions Pty Ltd
+61 411 719 338