Amazon Launches New Retail Data Tracking System, 'Store Analytics'
Niko Pajkovic — June 30, 2022 — Business
References: amazon & finance.yahoo
Amazon has announced the launch 'Store Analytics,' a new data tracking platform for its physical grocery store chain, Amazon Fresh. The new program will work to mine guests shopping data in real-time, which the company will then package and sell to brands that will be looking for extra granular consumer insights.
The program will be launched in all Amazon Fresh and Amazon Go stores and will be compatible with Dash Cart or Just Walk Out services. The aim of the platform is to provide brands with data and analytics that can help them better understand their consumers buying habits, allowing them to adjust their marketing and advertising strategies accordingly. Specific elements that the platform tracks will include how often products are taken off shelves. purchased, and returned.
Image Credit: Amazon Fresh
The program will be launched in all Amazon Fresh and Amazon Go stores and will be compatible with Dash Cart or Just Walk Out services. The aim of the platform is to provide brands with data and analytics that can help them better understand their consumers buying habits, allowing them to adjust their marketing and advertising strategies accordingly. Specific elements that the platform tracks will include how often products are taken off shelves. purchased, and returned.
Image Credit: Amazon Fresh
Trend Themes
1. Real-time Shopping Data Trackers - Amazon's Store Analytics platform provides real-time data tracking for physical grocery stores, disrupting the way brands gather consumer insights.
2. Granular Consumer Insights - Store Analytics provides granular consumer insights that can help brands adjust their marketing strategies, opening up opportunities for disruptive innovation.
3. Retail Big Data Monetization - Amazon's Store Analytics program monetizes big data from retail stores, creating possibilities for new revenue streams.
Industry Implications
1. Retail Industry - The Store Analytics platform disrupts the retail industry, allowing physical stores to compete with online retailers using real-time data tracking.
2. Consumer Goods Industry - Store Analytics provides consumer goods companies with granular insights into buying habits, leading to disruptive innovations in product development and marketing.
3. Advertising Industry - The granular consumer insights provided by Store Analytics can disrupt the advertising industry by allowing for highly targeted advertising strategies.
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