Acxiom Study Shows 17-34% New Revenue Potential for Retailers
Retail spend indicators reveal opportunities to increase category performance
LITTLE ROCK, Ark.--(BUSINESS WIRE)-- Acxiom (ACXM) ® Corporation (Nasdaq: ACXM), a recognized leader in marketing services and technology, today announced its latest Consumer Dynamics study, What Your Customer Is Buying When Not Buying From You, which highlights consumer spending potential for major retail categories.
In the study, Acxiom analyzed consumer purchase data from multiple retailers across the country for a variety of retail categories. The final product, a series of retail spend indicators, enables retailers to see beyond their own purchase data to estimate their customers total category spend. These indicators enable retailers to more accurately determine share of wallet and to prioritize promotional expenditures.
While the full study can be found here, several results indicate the revenue potential of retail spend indicators. For example, applying the indicators against a major retailers shoe department highlighted a 17-34% revenue upside:
- Among the retailers top 15 percent spending customers, additional revenue potential of 17 percent was identified. Said another way, this retailers best customers were spending tens of millions on shoes with other retailers.
- Among this retailers lowest spending customers, additional revenue potential of 34 percent was identified. These low spenders in reality were high spenders, just not with this retailer.
Jim Harold, general manager of Acxioms Consumer Industries Group, said, Retail spend indicators provide insight to more efficiently engage underserved customers. Traditionally, retailers have relied largely on their own sales data. With these indicators, retailers now can have a more accurate view to the true category potential of their customers.
Acxiom is a recognized leader in marketing services and technology that enable marketers to successfully manage audiences, personalize consumer experiences and create profitable customer relationships. Our superior industry-focused, consultative approach combines consumer data and analytics, databases, data integration and consulting solutions for personalized, multichannel marketing strategies. Acxiom leverages over 40 years of experience in data management to deliver high-performance, highly secure, reliable information management services. Founded in 1969, Acxiom is headquartered in Little Rock, Arkansas, USA, and serves clients around the world from locations in the United States, Europe, Asia-Pacific and South America. For more information about Acxiom, visit Acxiom.com.
Acxiom is a registered trademark of Acxiom Corporation.
Acxiom Public Relations
Jonathan Portis, 501-252-0582
Source: Acxiom CorporationCopyright Business Wire 2012