Next Stop—The Future of Consumer Engagement
Historically, retailers and CPGs have focused on advertising and marketing efforts that helped them spread their messages to consumers. Think billboards, sales flyers, TV commercials and one-size-fits-all loyalty programs. Given that they ran the environment, retailers and CPGs naturally thought they were the ones who were in control of influencing buying and loyalty decisions. Then came Big Data and the ability to gather, process and analyze immense amounts of consumer information (of which the average household generates enough to fill 65 iPhones each year, according to IT firm EMC)—from demographic details and spending habits to brand preferences and affinity patterns