Author: Kentrix

How Data plays a key role in D2C businesses

How Data plays a key role in D2C businesses
In the world of business, data is considered to be one of the most valuable assets. With the rise of direct-to-consumer (D2C) businesses, data has become even more important. D2C businesses are those that sell their products directly to consumers, bypassing traditional distribution channels such as wholesalers and retailers. These businesses rely heavily on data to understand their customers, improve their products, and grow their businesses.
Data as the Key to Customer Insights
One of the most important roles of data in D2C businesses is customer insight. By collecting and analyzing data on customer behavior, preferences, and needs, D2C businesses can gain a deeper understanding of their target market. This information can then be used to develop products and marketing strategies that better meet the needs and wants of their customers. For example, a D2C processed food brand might use data on customer purchasing patterns to identify which flavors are most popular among their target market. This information can then be used to inform future product development, ensuring that the brand is offering the products that their customers want to buy.
Data can also be used to improve the customer experience.
D2C businesses often rely on their websites and digital platforms to sell their products, so it’s essential that these platforms are user-friendly and optimized for conversions. By analyzing data on website traffic, user behavior, and conversion rates, D2C businesses can identify areas where their digital platforms can be improved. This could involve optimizing the checkout process to reduce cart abandonment rates, improving website loading times to reduce bounce rates, or A/B testing different variations of website design to identify which version is most effective at driving conversions. Data is also key in Supply Chain Management In addition to customer insights and improving the customer experience, data can also be used to optimize supply chain management in D2C businesses. By collecting and analysing data on inventory levels, order fulfillment times, and shipping costs, D2C businesses can identify areas where they can improve efficiency and reduce costs. For example, a D2C cosmetic brand might use data on inventory levels to identify which products are selling the fastest and which are slower moving. This information can then be used to adjust production schedules to ensure that there is always enough inventory of the most popular products, while minimizing waste and reducing the need for excess inventory. Data can also be used to optimize shipping and logistics operations. By analyzing data on shipping times, delivery success rates, and shipping costs, D2C businesses can identify areas where they can improve efficiency and reduce costs. This could involve working with different carriers to find the most cost-effective shipping solutions, optimizing packaging and labeling to reduce shipping costs, or using data on delivery success rates to identify areas where improvements can be made. In addition to these benefits, data can also be used to drive growth in D2C businesses. By analysing data on sales performance, customer acquisition costs, and customer lifetime value, D2C businesses can identify opportunities for growth and develop strategies to capitalize on them. For example, an OTT Chanel might use data on customer lifetime value to identify which customers are most valuable and which are at risk of churning. This information can then be used to develop targeted marketing campaigns aimed at retaining these high-value customers and preventing churn. Overall, data plays a critical role in the success of D2C businesses. By collecting and analysing data on customer behavior, preferences, and needs, D2C businesses can gain a deeper understanding of their target market and develop products and marketing strategies that better meet their customers’ needs. As D2C businesses continue to grow and evolve, data will undoubtedly remain a key driver of success. New data solutions available in the market today: Kentrix offers a simple solution that provides data up to an individual residential building precision. Kentrix is an Inclusive Business Intelligence Platform for consumer data-driven solutions in B2C and D2C, operating on data of 91.5 crores of Indian consumers. They are identified down to the precise residential place of living. Geomarketeer from Kentrix is a granular market segmentation analysis tool. It supports companies in India with geo-location-based intelligence, using micro-market-focused data and tools to sustainably grow D2C businesses. By delivering this information on the Software as a Service (Saas) platform, Geomarketeer allows organizations of any size to quickly get started with market research and data-backed insights.

March 16, 2023
Identifying risk-free customers in a high-risk, negative pincode area?
Is there a safe way to identify risk-free customers in a high-risk, negative pincode area?
High-risk, negative pincode areas have a higher likelihood of fraudulent activity, chargebacks, or other negative events, resulting in increased costs and reduced profits for retailers. Customers from such areas who do not pose a risk of fraud are risk-free customers – valuable and hard to identify. These customers have a good payment history, a stable financial situation, and a low likelihood of returning or canceling an order. In the Indian retail context, identifying risk-free customers is critical for retailers looking to maximize their growth and profitability. By focusing their efforts on serving these customers, retailers can drastically improve their bottom line.
Challenges of Identifying Risk-Free Customers
While identifying these customers is important to enhance the business, the task is not an easy one. The most common challenges faced are:

Data Accuracy and Quality: Retailers often struggle to access accurate and up-to-date information about their customers. This can result in incomplete or outdated customer profiles, making it difficult to accurately determine the risk level of a customer.

Fraudulent Activity: Fraudulent activity is a common problem in high-risk, negative pincode areas. Retailers need to be able to detect and prevent fraud in real time, but traditional methods of customer identification are often insufficient in identifying potential fraudsters.

Chargebacks: Chargebacks can have a significant impact on a retailer’s bottom line, especially in high-risk, negative pincode areas. Retailers need to be able to accurately identify customers who are at a higher risk of chargebacks to minimize their financial losses.

Changing Customer Behavior: Customer behavior is constantly changing, and retailers need to be able to keep up with these changes to accurately identify risk-free customers.

Limited Resources: Retailers often have limited resources and budgets, making it challenging for them to invest in advanced technologies and solutions for customer identification.

Big Data and Customer Risk Identification With the advent of advanced technologies of AI and Machine Learning, most of these challenges can now be mitigated. Comprehensive analysis and processing of big data can help to efficiently identify risk-free customers thereby providing a competitive edge. Here are a few pointers for you as a retailer:

As a retailer, you need to understand that risk-free customers are not just those who have a good credit history. In high-risk pincode areas, other factors such as demographics, income levels, and spending habits can also play a significant role in determining whether a customer is likely to default on their payments. This is why you need to use big data analytics to collect and analyze data from multiple points and create a comprehensive profile of your customers.

Using data from social media platforms like Facebook, Twitter, and Instagram is a great way to gather consumer behavior insights to identify risk-free customers. This data can provide valuable information about customers, including their demographics, interests, and spending habits. The information can be used to create a comprehensive consumer profile, giving you a 360-degree view of their financial situation.

Another way to use big data to identify risk-free customers is by analyzing customer purchase history. By tracking past purchases, you can get a good understanding of customer expenditure behavior and identify those who are likely to be low-risk. This information can be used to create targeted marketing campaigns, customized product recommendations, and more.

A huge benefit of using big data for customer profiling is the ability to process large amounts of data in real time. This enables you to quickly identify trends and patterns in customer behavior and respond to the changes accordingly by making the necessary adjustments to your offerings.

Predictive analytics can be used for identification since it uses historical data and algorithms to identify patterns and make predictions about future behavior. In the case of customer risk assessment, predictive analytics can be used to identify those customers who are most likely to default on their payments. By analyzing factors such as customer purchase history, demographics, and spending habits, retailers can create a risk score for each customer and identify those who are low-risk.

You can implement an early warning system for customer risks. This is a solution that helps you recognize potential risks associated with customers by using AI and ML. By identifying potential red flags, such as suspicious behavior or a history of chargebacks, the early warning system helps you take proactive measures to mitigate risk and make informed decisions about your customer base.

The Solution You are Looking for Segura by Kentrix is a comprehensive customer risk identification solution designed to help retailers mitigate the risks associated with conducting business in high-risk, negative pincode areas. The solution leverages big data analytics, machine learning algorithms, and other advanced technologies to help retailers identify risk-free customers and minimize their exposure to fraud and chargebacks. With Segura, retailers can access real-time data and analytics on their customers, helping them to make more informed decisions and reduce their risk of fraud and chargebacks. The solution also offers a range of tools and features including early warning signals, risk assessment, real-time monitoring, and incident management. If you are looking for help with customer risk identification, click here to know more about Segura!
February 10, 2023
The 3 Products and Solutions We Offer – Kentrix
The 3 Products and Solutions We Offer – Kentrix
Kentrix is an inclusive Consumer Intelligence platform for consumer data-driven solutions in B2C and D2C. With data of 91.5 Indian Consumers that can be identified down to individual residential building precision, Kentrix is a powerful business intelligence enabler. KENTRIX big data is real-time and constantly evolving, made available in SaaS-based software solutions.
Kentrix Products and Solutions
GEOMARKETEER Geomarketeer is a granular market segmentation analysis tool that helps companies in India with geo-location-based intelligence, using micro-market-focused data and tools to sustainably grow their business. Benefits of Geomarketeer:

Easy-to-use Online System

Subscription to geographies you need

‘Private Room’ – Users create their private access login: No third party is involved in analytics or having access to the user‘s data space

Data queries in real time

Uploading Data: Analytics networking company’s own and external market data.

Generate location reports

KARMA Karma is a product that enhances individual customers by consumer profile of income, lifestyle affinity, and expenditure behavior for deeper client profile understanding. It supports sharp, targeted up-sell and cross-sell campaigns. Benefits of Karma:

Consumer Profiling – Define your target customer archetype to better target your products.

Economic potential – Understand the spending capacity and affluence of an individual customer or prospect.

Customer-product affinities – Understand 1:1 who your customer is and take it forward accordingly.

SEGURA Segura helps in customer risk identification. Early Risk Identification for default behaviour in financial products, such as loans – cards/credits, can help lenders. With Segura, they will be able to utilize customer consumer profile identification based on income, psychographics, and product purchase behaviour patterns in all relevant categories. Benefits of Segura:

It complements bureau scores through overlay heat maps on delinquency profiles, customer behaviour, and income levels.

It helps in a more robust credit assessment that results in a more accurate approval/rejection percentage.

It identifies negative areas and green zones within the same pin code. This helps in gaining higher customer reach and sales force productivity.

It aids the credit team in micro market policy formulation based on geography to identify pre-qualified areas.
February 9, 2023
What are the changing trends in Consumer Behaviour?

What are the changing trends in Consumer Behaviour?

The post pandemic years have created a new lifestyle for the Indian consumer . This has in turn changed how the consumer shops, and what the consumer purchases. Understanding this change in consumer behaviour has become even more critical for new brands in the market as well as established brands.

The same customer has a different set of choices now and has learnt newer ways through different channels to fulfil her choices.

The huge jump that we have seen in smartphone usage has inﬂuenced when and how consumers make purchases. This has led to the biggest change in consumer behaviour. When looking for a consumer need, the phase of discovery itself has thrown up a wide range of options. All it takes is a simple smartphone search that will give them a wide range of options, that can help cater to their needs. And the detailing about the product is now much more elaborate. An interest piece of information that 90% of online buyers discover their product on YouTube. This itself amounts to a huge change in consumer behaviour. The reason for this is also that the information about the product that is provided on video is far more elaborate, as it generally come from a person who has specialist in the subject.

This change in consumer behaviour has in turn changed the entire buying process. Consumers can now discover new products, compare features, read customer reviews, and make conscious decisions.

How product reviews influence consumer behaviour

Given the wide range of choice that the customer now has easy access to, a new step in consumer behaviour is to understand who are the other users of this product.

Unlike endorsers whom the consumers saw as mega stars, who were seen as a person whose values may be linked to the brand but was not necessarily the brand user , the influencer is seen as being much closer to the real use of the product.

Endorsers have other real world skills (like sports or cinema )that give them a mega follower base. Influencers in turn are people who have interest in that category but may not be seen as huge public personalities.

In categories ranging from technical products like mobile phones where influencers like MKBHD to Gadget Guru Rajiv Makhni have a huge following , to a simple beauty cream, an influencer has a detailed opinion on the product which in turn does influence the consumer product purchase.

Statistics tell us that and 64% of consumers in India made purchases based on an influencers or online review.

A new step before you press the ‘Shop Now’ button.

An important step in the change in consumer behaviour is about getting opinions and reviews about that specific product.

Before “checking out” from their online shopping basket or visiting their nearby store, the customer can quickly browse social media sites and search engines to learn more about the products.

The new trend in consumer behaviour is to send images of selected products to the ones whose opinion you would want and in turn get their opinion before purchase. In categories like fashion, trial room pics are sent to friends and family for their opinion and only when you get the thumbs up sign is when the purchase is made.

What is the right way to understand Consumer Behaviour?

Getting into the market without understanding consumer behaviour can actually prove fatal for the brand. Hence the search for a good data platform that will help you reach the right customer.

We discovered KENTRIX big data, which is real-time and constantly evolving customer data solution that can drive highly successful business decisions.

Kentrix is an inclusive Business Intelligence platform for consumer data-driven solutions in B2C and D2C, operating on data of 91.5 crores of Indian consumers which has profiled each household within this big data spectrum into their monthly income (Economic Segmentation), rational and insightful psychographics derived from spending habits and lifestyle affinities (Lifestyle Segmentation), and expenditure behaviour across 40+ spend categories such as housing, health care and medical, financial savings, apparel, food and FMCG, entertainment and more.

What will help you get the right consumer behaviour is their consumer lifestyle affinity or psychographic segmentation which decodes the psychological aspects influencing consumer purchase behaviour. It explains attitudes towards what products and services a person will value and spend money for.

Kentrix uses data experiences of more than 80 different collection touch-points – transaction-based data, household surveys, and qualitative market research data.

February 9, 2023
How accurate Customer Profiles build profitable businesses

Customer Profiles build profitable businesses

The starting point of a service is always the customer. The customer is a person who will exchange monies for your goods or services. To be able to decide who you should target as a customer it is first important to understand what is the customer profiles you are targeting.

The key stakeholder, who needs to understand in depth what customer profiles mean, is the Business Head.

Demographic data is a shallow way of looking at a customer profiles. Just data, as is available on the age , sex and income profiles of residents of different geographies is not an efficient way to understand how to make your business more profitable or for that reason, even to answer the question of what should be the target markets while you establish your business.

Imagine building a business plan for a new processed food item in the premium pricing segment. It is important to understand not just the age , sex and income profiles but also need to understand the affinity of the target group for processed foods . It is important to understand the overall affinity of the locations that the brand is looking at targeting, for multiple categories including luxury goods. It would also be important to understand the customer’s exposure to cultures outside of their own, either through travel or by cultural exchanges in the form of art .

Getting pin code wise demographic data through the National Census is not a difficult task. The National Census will provide you with basic population characteristics including age, sex, marital status, household composition, family characteristics, and household size. The national census being a laborious process that is supposed to cover people residing in each and every part of the country is a process that is conducted in India every ten years. Having the advantage of reasonable accuracy and ease of availability, this data then becomes the starting point for many different activities.

The question that we have in front of us is, if this data is sufficient to create a profitable business plan?

This information is provided by consumer profiling, where the intent of the customers is also available as a part of the data.

Consumer Profiles provide key information about the consumers and their interaction with the business. Customer profiles can tell you about the customer mindset and that in turn can help companies make decisions of placing different product variants, particular SKUs and preferred delivery time. While traditional brick & mortar businesses find this of tremendous value, this is especially critical for the new rising D2C businesses.

In fact the granularity of the data that is required to be used today for micro targeting has to define customer profiles much deeper than just the the pin code level. It is important to understand the customer profile not just by area or sub area, but also by the understanding customer profiles for each household in residential buildings.

Once the business has been set up , especially in the D2C channel , there is independent customer profile data that is generated through the transactions which define the buying patterns of customers. Understanding these customer profiles can build data that will help brands understand who is the impulsive, need based and the loyal customer. The most often used metrics for this customer profile development is through the RFM model. Recency and Frequency of the purchase as well as the Monetary value can help create distinct customer cohorts. These cohorts in turn can be used for cross selling or upselling and are a good way to track the churn of customers.

Discover consumer profiles with Kentrix.

We suggest Kentrix, which has data availability for 91.5 crores of Indian consumer. This can be a gold mine for businesses . These are complete consumer profiles which include understanding of consumer intent.

Geomarketeer by Kentrix is a granular market segmentation analysis tool. It supports companies in India with geo-location-based intelligence, using micro-market-focused data and tools to sustainably grow their business. By delivering this information on the Software as a Service (Saas) platform, Geomarketeer allows organizations of any size to quickly get started with market research and data-backed insights.

This data has been identified down to the precise residential place of living. This makes the data extremely insightful for building profitable B2C and D2C businesses.

February 9, 2023
The Consumer Has Evolved – What about Knowledge of their Consumer Behavior?
The Consumer Has Evolved – What about Knowledge of their Consumer Behavior?

Digitalization has transformed the way our world works, and the retail industry is not far behind. The impact of the transformation can be seen in the dramatic evolution of the way consumers shop, consumer behaviour and make purchasing decisions. With e-commerce, social media, and extensive use of mobile devices, consumers today have more access to information and choices than ever before. In India, this evolution of the consumer has been particularly pronounced, with the country’s e-commerce market expected to reach $200 billion by 2026.

In this scenario, understanding the changing consumer landscape and evolving consumer expectations has become a non-negotiable for businesses. With multiple digital touchpoints generating volumes of consumer data, one of the ways you can address this issue is by leveraging big data analytics to gain insights into consumer behavior and preferences. These insights can help retailers to gain a deeper understanding of their customers and tailor their marketing and sales strategies accordingly.

There are various ways in which retailers can use big data to their advantage. As a retailer, you can:
- Use big data analytics to track customer browsing and purchase history and personalize your marketing efforts to specific segments of customers. Such customization has a direct positive impact on customer loyalty and sales.
- Utilize customer analytics to optimize your inventory management, pricing strategies, and store layouts to improve the in-store experience for customers, pointing them to relevant recommendations, following trends and patterns, and thereby increasing sales.
- Stay ahead of the curve by understanding the role of digital technology in consumers’ lives. With the growing use of mobile devices and social media in India, you need to ensure that your websites and mobile apps are user-friendly, quick to load, and easy to navigate. Additionally, you can use social media platforms to engage with customers, build brand awareness, and gather customer feedback for learning and improvement.
- Become aware of the importance of data privacy and security. With the increasing use of big data analytics, you must ensure that you are collecting and using consumer data in a way that is compliant with local regulations and protects consumer privacy.
How Knowing Your Customer can Impact the Bottom Line?

Utilizing big data for customer profiling can play a significant role in creating an impact on the bottom line. By analyzing data from the various digital touchpoints, you can gain a deeper understanding of your customers, including demographics, purchase history, browsing behavior, and sentiment.
- Personalized product recommendations: You can use big data to recommend personalized products leading to increased sales and better customer loyalty.
- Targeted marketing campaigns: You can use big data for customer segmentation and create targeted marketing campaigns for specific segments of customers. This will increase the effectiveness of marketing efforts and lead to higher conversions
- Inventory management: Your retail business can use big data to analyze customer expenditure behavior and predict their demand for certain products helping you to optimize your inventory management and reduce costs.
- Price optimization: Analyzing customer purchase trends and browsing behavior to optimize prices for certain products can increase sales and profitability.
- Customized discounts: Based on customer habits and history, big data can help you customize offers for them leading to better sales and higher customer loyalty.
- Customer service: Big data analytics on customer feedback and sentiment can help you identify areas for improvement in customer service. Efforts in this area will improve customer satisfaction.
- Fraud detection: You can also use big data to detect fraudulent activity, thus reducing losses and protecting your customers.
- Store layout optimization: Customer behavior analytics can help you optimize the layout of your stores, making shopping a more personalized experience with relevant recommendations for them.
With such benefits, it is evident why customer profiling is finding increased usage in the retail segment. According to a study by Deloitte, Indian retailers are expected to invest heavily in data analytics and big data to gain insights into customer behavior, optimize pricing, and improve inventory management.

Increasingly, retail store chains across the country are using big data to gain insights into customer behavior and preferences to create detailed customer profiles. Analyzing this data gives them access to patterns such as which products are most popular, what types of customers are most likely to purchase certain products, and which customers are most likely to return products. With this information, retailers can tailor their offerings to meet the specific needs and preferences of customers. In such scenarios, tools that allow retailers to process large amounts of customer data in real-time have gained popularity by enabling retailers to swiftly identify trends and patterns, and respond to changes in customer behavior with immediate effect.

The Role We Play

Karma by Kentrix, a big data analytics platform, helps businesses with customer profiling by collecting, analyzing, and visualizing data from various sources and using AI and machine learning algorithms to create detailed customer profiles. The platform also provides businesses with real-time insights and actionable information, which can be used to improve customer service, increase sales and gain a competitive advantage in the market. Allowing businesses to segment their customers based on demographics, purchase history, behavior, and more, the solution helps them to better understand their customers and create tailored marketing campaigns, product recommendations, and customized discounts. Predictive analytics is used to identify customer loyalty patterns and predict future behavior, which can be used to improve retention and increase sales.

https://www.youtube.com/watch?v=cjAJ-WCC4pY

How can Karma Consumer Profile help you know your consumer better? Click here to know more!
February 8, 2023
Data Analytics with Individual residential building precision

Data Analytics with Individual residential building precision

“Data analytics made easy with expert insights and cutting-edge tools. Get actionable insights from your data and drive your business forward with our comprehensive data analysis services.”

As a profit centre head one of your central challenges is to target the correct customer who has the potential and the affinity for your product category. The question that comes to a business person’s mind first is – is the data precise ? Does it have Individual residential building precision?

In this maze of urban growth and disparate multicultural communities , it is challenging to trace, where the true potential for your product lies.

In case of the Banking & Insurance sector, this could be income levels as well as the capability of understanding the investment product needs, whereas in case of Consumer services and goods it is more a matter of a lifestyle affinity segmented target audience.

And consumer preferences change, not just within the cities or suburbs or from PIN Code to PIN Code, but also between residential colonies and blocks of apartments!

Firstly, consumer data is generally seen as the availability of demographic data. That is now a tool of the past. What is important in today’s market is data that has individual household level building precision.

Data analytics is important but having the right data for analytics is even more important.

Answering the question of ‘Where do I find the right customer?‘ is a great challenge for the marketer. Being mindful of the increase in the cost of resources for distributing the product as well as the increased cost of communication to the right customer, it is important that the profit centre head and the marketing team are well equipped with the correct tools to reach the right potential.

Kentrix offers a simple solution which provides individual residential building precion.

Kentrix is an Inclusive Business Intelligence Platform for consumer data-driven solutions in B2C and D2C, operating on data of 91.5 crores of Indian consumers.

They are identified down to the precise residential place of living.

Geomarketeer from Kentrix is a granular market segmentation analysis tool. It supports companies in India with geo-location-based intelligence, using micro-market-focused data and tools to sustainably grow their business.

By delivering this information on the Software as a Service (Saas) platform, Geomarketeer allows organizations of any size to quickly get started with market research and data-backed insights.

And this data is available for use with Individual residential building precision.

You can define and analyse shopper profile of individual store catchment areas, not limited to administrative territory segregation (PIN codes, localities, etc.).

When looking at growth for your new business you can describe customer density according to differentiated customer profile criteria and locate target groups with individual residential building precision .

The important part of the tool is that it will not just allow you to check Customer-Product Affinities but also Understand where , up to an individual residential building precision, is the right target for a specific product.

Geomarketeer as a tool is mean to make your business development sharper . Not just that it can also be used for reaching the right communication to the right audience with individual residential building precision, which in turn helps save cost and hence increase profitability for the business.

Geomarketeer by Kentrix as a solution has been used effectively by global brands like Diageo India as well as by successful start-up businesses like Swiggy, to be able to improve efficiencies and hence build their profitability using the precision of residential building targeting.

February 7, 2023
Not just demographics, but Consumer Profiles are the key to efficient Marketing

Not just demographics, Consumer Profiles are the key to efficient Marketing

A good amount of data is available on the age , sex and income profiles of residents of different geographies. And this forms the basis of important business decisions which can create profitability for businesses. However, what constitutes good data, that create and run business plans, is availability of Consumer Profiles of these customers.

How is a Consumer Profile different from the regular demographic data ?

The easiest way of getting pin code wise demographic data is through the National Census. The National Census will provide you with basic population characteristics including age, sex, marital status, household composition, family characteristics, and household size. The national census being a laborious process that is supposed to cover people residing in each and every part of the country is a process that is conducted in India every ten years. This data collected requires intense collation and is made available to the people by the government through a website.

Having the advantage of reasonable accuracy and ease of availability, this data then becomes the starting point for many different activities. The activities include both social as well as economic.

To an extent this demographic data is a good point of reference for social activities that are required for governance. However, the depth of information in this does not include Consumer Profiling.

The key differentiator is to understand the consumer profile from the angle of Intent. What a consumer’s need is at a point of time is what helps decide the of a product or a service in that particular geography.

A simple example for the differentiation between pure demographic data and a consumer profile can be explained through this example.

Imagine a municipality running the water pipeline for a particular residential area, deciding on the quantum of water to be pumped to a particular residential apartment’s. The census demographic data would provide sufficient information to be able to decide on the requirements.

Now imagine a food delivery company wanting to target the same residential area with their services. In order to decide on what particular cluster of the area to be serviced by a group of delivery agents, it would help to be able to understand that is the exact consumer profile of those residents. Is this an area where the residents are of an age group where they prefer home cooked food or are there more student profiles where the company could expect that the food is often delivered from a cloud kitchen or a restaurant? Or are there families who prefer to order out on weekends in order to enjoy a variety of different cuisines?

This information is provided by consumer profiling where the intent of the customers is also available as a part of the data.

Consumer Profiles provide key information about the consumers and their interaction with the business. Customer profiles can tell you about the customer mindset and that in turn can help companies make decisions of placing different product variants , particular SKUs and preferred delivery time. While traditional brick & mortar businesses find this of tremendous value, this is especially critical for the new rising D2C businesses.

Understanding customer profiles can help build data that will help brands understand who is the impulsive, need based and the loyal customer.

Discover valuable insights into consumer behavior and create targeted marketing strategies with our comprehensive consumer profiles analysis.

Discover consumer profile with Kentrix.

We suggest Kentrix, which has data availability for 91.5 crores of Indian consumer. This can be a gold mine for businesses . These are complete consumer profiles which include understanding of consumer intent.

The best part of this data, is that the data points have been identified down to the precise residential place of living. This makes the data extremely insightful for B2C and D2C businesses.

To know more about how this solution can help you in your business, click here.

February 7, 2023
Reimagine Retail – Impact of Big Data
Impact of Big Data
Over the years, the Indian retail industry has undergone a complete makeover with the emergence and ever-growing success of e-commerce, coupled with the increasing use of technology in brick-and-mortar stores. To stay competitive in this dynamic market, businesses must find ways to understand consumer behavior and preferences. The role of big data analytics in this journey thus, cannot be ignored. With digitalization, the generation of data from every digital touchpoint has grown in leaps and bounds. Big data analytics is the process of collecting, analyzing, and interpreting these large sets of data to gain insights and make informed decisions. Once analyzed, the information can be used in various ways to elevate the business – from identifying consumer trends and preferences, and optimizing store layouts to developing targeted marketing campaigns.
Benefits of Big Data for the Retail Industry
Harnessing the power of big data can completely transform the retail sector, as has been evident with the growing interest and adoption of data analytics in the industry. According to a report by MarketsandMarkets, the global big data market in the retail sector is expected to grow from $162.6 billion in 2021 to $273.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11% during the forecast period. This is because the retail sector has realized that big data brings the following benefits to their business:

Understanding consumer behavior: Big data brings the ability to understand consumer behavior at a granular level. By analyzing information from various data points, businesses can gain valuable insights into demographics, purchase history, and even the emotional state of consumers. This information can be used to create personalized experiences for customers, resulting in increased satisfaction and loyalty.

Predicting trends: Being able to predict consumer trends and preferences through the analysis of historical data and identification of patterns is another big plus for the retail industry. With predictive analytics, businesses can make forecasts about upcoming popular trends, probable timings for customers to visit their stores, and even potential conversions. This allows businesses to be proactive in their approach, rather than simply reacting to changes in the market.

Improving experience: Big data analytics can also be used to optimize store layouts and improve the in-store experience. By analyzing data on traffic and customer interactions, businesses can identify bottlenecks, design efficient store layouts, and even improve product placement. This can help to increase sales and customer satisfaction.

Increasing effectiveness of marketing: Demographic and especially location-based data analytics can be a huge plus in the development of targeted marketing campaigns. By analyzing consumer information, businesses can tailor their marketing efforts to specific segments. This can result in higher conversion rates and more effective use of marketing resources.

Big Data and the Indian Retail Market For the diversity in the Indian retail market especially, Consumer Behaviour Insights can lead to a much better understanding of the dynamics. For example, businesses can analyze data to determine which regions and states are likely to provide the best growth opportunities. This can provide invaluable information on which areas to focus on, and the kinds of services and products that the Indian customer base will be most interested in. Big data can also help retailers develop better products and services. By analyzing customer feedback, they can quickly identify areas where improvement is needed and make changes to their offerings. This can result in higher customer satisfaction and more sales. The way forward for the Indian retail industry in using big data to its advantage includes:

Investing in data management and analytics tools: The industry requires the right tools and infrastructure in place to collect and analyze large amounts of data. This would need solid investment in data management platforms, analytics software, and data scientists.

Building a data-driven culture: Retailers must also create a culture that values data and encourages employees to use data-driven insights to make decisions. Training employees on data analysis and creating a data-driven decision-making culture would help the business tremendously.

Providing personalized customer experience: The retail segment needs to use the insights gained from big data analytics to create a personalized experience for customers. This includes tailoring product offerings, store layouts, and marketing efforts to specific target segments.

Continuous monitoring and analyzing of data: Retailers need to continuously monitor and analyze India Consumer Data to stay abreast with consumer trends and preferences. Predictive analytics is a huge help in anticipating future changes in the market.

How We Can Help Geomarketeer by Kentrix is a powerful big data platform designed specifically for the retail industry. It allows businesses to collect, analyze, and visualize large amounts of data, giving them a comprehensive understanding of their customers and the market. One of the key benefits of Geomarketeer is its ability to analyze location-based data, enabling businesses with locational demographics, trends, and traffic. This information can be used to optimize store layouts, target promotions to specific neighborhoods, and even identify potential new locations for expansion. The solution also integrates insights from multiple touchpoints to give businesses a 360-degree overview and in-depth analysis of the information collected. This Kentrix Business Intelligence makes personalization easier, and more effective, thereby increasing customer satisfaction, and loyalty, and ultimately enhancing sales. Predicting customer behavior and preferences also facilitates proactiveness for the retail business. To know more about how this solution can help you reimagine your retail business, click here.
January 30, 2023
The KENTRIX Advantage
Kentrix, a powerful business intelligence enabler, allows companies to interact with their customers through comprehensive consumer insights. We, at Kentrix, have profiled each household within the big data spectrum into their monthly income (Economic Segmentation) and lifestyle affinities (Lifestyle Affinity Segmentation) across 40+ spend categories.

Working with the Kentrix Geo-data platform GEOMARKETEER, you will experience the following competitive advantages:
Profiling Depth: While many companies offer data up to the Locality or PIN Code / Locality level, Kentrix gives you data with precision identification down to the individual building level. This constitutes the precision for analyzing ‘true’ sales infrastructure/outlet catchment areas.
Data Sources: When we talk about the reliability of consumer data in India, we know that the sample surveys based on a 10+-year-old census do not suffice. This is why we offer data that is updated regularly, combining qualitative and quantitative built on actual sales data inputs. The Kentrix India master customer database includes today 91.5 crore, Indian consumers. This data is classified based on lifestyle, purchase behavioral, demographic, and psychographic segmentation.
Reach: May it be for urban or rural markets, the data by various data companies in India are compiled into large regions. This makes it difficult for a company to target its customers with precision. With Kentrix, you get coverage of mega, metro, and even Class IV cities with a minimum population of 20,000. When we talk about Rural India, the data is available on the individual village level.
December 19, 2022