Trade Relationship Revolution revealed
Clive's discussion, titled The Behaviour Revolution, explored the potential to better understand shopper and consumer motivation; the reasons behind their behaviour. Clive proposed that motivation, rather than behaviour alone, is of most value to brands, and that grocery basket analysis only provides a partial picture. He developed the argument that the most complete picture comes from an emerging composite of data from grocery basket, mobile device, social networking and banking transactions; and outlined a future where such a composite will present a more rounded picture of an individual's motivation. Addressing privacy concerns, Clive also suggested that individuals will look to claim back data relating to their activity, and only release it to businesses who offer specific value in return - a radical departure from today's situation.
The audience also heard from Carrie Bedingfield of Onefish Twofish, on the subject of The Relationship Revolution; changes in behaviour within and across trading relationships. Carrie outlined opportunities for retailers and suppliers to use 'neutral facts' to power dialogue and action, and explored this in the light of psychological theories including transactional analysis. Carrie presented examples of adult-to-adult dialogue bearing valuable results in the retail sector, referencing Colgate in the UK and Woolworths in South Africa.
The first presentation - The Data Revolution - was delivered by Guy Cuthbert in place of the planned speaker, Pete Johnson of Petface, who was taken ill. Guy took the audience through the amazing Petface story - how its planned, persuaded and produced an incredible 300+ product 5-store trial in its first major grocery customer, and then used this to secure a 500+ store roll-out within its first year.
Feedback from attendees was universally positive; strong question-and-answer sessions after the presentations; informal networking before, during and after the main agenda; and many suggestions and requests for future Visual Retail Analytics events.
The event was filmed, and Atheon will be releasing footage of all of the presentations on the Trade Relationship Revolution page once it is available. To join in the discussion, discover more about Visual Analytics in retail and consumer goods, and keep abreast of future news and events join the Visual Retail Analytics group on LinkedIn.