The Jason & Scot Show · with Jeremy Allen & Patty Altman · December 13, 2019 · 47 min
Summary
This episode provides a unique look into consumer purchase patterns during the critical holiday shopping season, leveraging data from NPD Checkout. It reveals how analyzing physical and digital receipts from a large user panel can uncover actionable insights into what consumers are buying, when, and their overall spending habits. Ecommerce operators can use these insights to refine their marketing, merchandising, and operational strategies.
Key takeaways
NPD Checkout's methodology of scanning physical and digital receipts from 100,000+ users offers a comprehensive view of consumer purchase patterns across diverse product categories.
Early holiday shopping trends indicate shifts in consumer behavior, including what products are popular and changes in purchasing timelines. Retailers should analyze this data to optimize their inventory and promotional calendars.
The increasing importance of digital receipts is providing a more complete picture of consumer activity. Brands should consider how to integrate this data into their analytics for a holistic view.
Retailers and brands can leverage cross-category purchasing insights to inform bundled offers, product recommendations, and strategic partnerships.
Understanding the impact of broader economic factors on holiday spending, as observed through real-time purchase data, is crucial for agile business planning and forecasting.
EP203 - Shopper insights from NPD Checkout NPD Checkout is a product from NPD that scan physical and digital receipts from a panel of more than 100,000 users to get a unique look into consumer purchase patterns in a variety of product categories. Jeremy Allen, Group President of Checkout, and Patty Altman, SVP Client and Business Development at Checkout join us to discuss what we can learn about the holiday from their dataset. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 203 of the Jason & Scot show was recorded on Tuesday November 16th, 2019.
What does this episode say about analytics & attribution?
NPD Checkout's methodology of scanning physical and digital receipts from 100,000+ users offers a comprehensive view of consumer purchase patterns across diverse product categories.
What does this episode say about retail & omnichannel?
Early holiday shopping trends indicate shifts in consumer behavior, including what products are popular and changes in purchasing timelines. Retailers should analyze this data to optimize their inventory and promotional calendars.
What does this episode say about product & merchandising?
The increasing importance of digital receipts is providing a more complete picture of consumer activity. Brands should consider how to integrate this data into their analytics for a holistic view.
What does this episode say about analytics & attribution?
Retailers and brands can leverage cross-category purchasing insights to inform bundled offers, product recommendations, and strategic partnerships.
What does this episode say about analytics & attribution?
Understanding the impact of broader economic factors on holiday spending, as observed through real-time purchase data, is crucial for agile business planning and forecasting.
