Focus on Data

Kantar, who deals in consumer knowledge and insights, wrote an interesting piece last year about how they can help businesses make the consumer experience better with all the benefits for customer satisfaction that come from it.

What was interesting was the work devoted to data collection, the application of advanced techniques to make sense of it and how what was learnt was then applied in the workplace to make a difference. Perhaps retailers, cash management companies and the cash industry have much to learn if cash is to continue to compete as a payment option.

Kantar describes how combining store-level transaction data and customer experience survey data allows retailers to understand ‘basket size’, preferred payment options and to optimise check outs so that people don’t face delays – 70% of people say the speed and convenience of the checkout experience is the most important determinant of their perception of a shop.