Data oils the wheels of next level online grocery shopping
May 21, 2021
In 2006, British data scientist and customer-centric business strategist Clive Robert Humby OBE observed that, "Data is the new oil." Break data down and refine it, and it can produce amazing things.
We're seeing this in the online grocery retail sector right now. It's why MikMak was able to raise £10 million in Series A funding at the end of 2020. And it's why major retailers including Aldi, Amazon, Carrefour and Tesco are flocking to MikMak's data-driven eCommerce acceleration solutions.
From data to content to engagement
"We're seeing data at the heart of everything right now," comments Northfork Co-founder Erik Wallin. "Brands are using it to create content strategies that drive engagement. Then they're connecting that into commerce. It's an increasingly sophisticated approach that can benefit consumers, publishers, CPGs and retailers alike."
For brands, the right data strategy can support them to get in front of customers. It's a great time to do so. Shoppers have been dropping their old habits and experimenting. McKinsey reported that 36% of US consumers tried a new brand in the three months following the start of the pandemic.
Next level experiences
Data is certainly oiling the wheels of Northfork's platform-agnostic recipe shopping solution. One example of what this data-centric approach can achieve is that customers keep 98% of all products added from a recipe into a Northfork Smart Cart. It's a win for retailers, for brands and for time-poor consumers looking for a next level online grocery shopping experience.
Key to all of this is high quality data and analysis - data at the very heart of the product. Sherlock Holmes pointed out that, "It is a capital mistake to theorize before one has data." In such a highly competitive environment, this is not a mistake that brands, publishers or retailers can afford to make.