In order to craft more effective marketing campaigns, retailers need to fully understand consumers’ preferences and purchase histories. With these detailed insights, they can predict consumers’ future behaviors and, in turn, develop the optimal campaigns and offers.
Retail Automata Analytics, marketed under the brand name RetailReco, has developed the Predictive Analytic Offerings suite, which is designed to provide retailers of all sizes with a complete predictive analytics product suite. Through the suite’s campaigning system, users have the ability to design campaigns based on segmentation criteria such as customer price sensitivity and product seasonality.
The suite includes a recommendation engine positioned to predict future consumer purchases, generates prediction-based offers and delivers them via email, the e-Commerce site or mobile application. Consumers can click the recommended product to go directly to the checkout, enter a product code and get a discount on their purchase.
Advertisement
Generating predictions of future purchases involves analysis of consumers’ purchase histories. RetailReco tracks visitor behavior in online stores, enabling merchants to deliver tailored product recommendations based on the behavioral data of individual consumers.
