Modern retailers need better text analytics

by Matt Gullett | published on May, 2021

“I started using Instacart here. Been pretty fantastic. When I used to go into the store it was always clean and the staff was always friendly.”

“We used Instacart to shop for us. It was awesome, we got all 33 items exactly as ordered and everything was beautiful, could not have picked our produce any better ourselves.”

“Have to go here frequently as an Instacart shopper. The selection and layout is pretty good. But I absolutely hate shopping this store because of the employees. Most of the checkers are friendly but the baggers damage the groceries every single time.”

What happens when an entire generation of shoppers has no direct contact with a brand or store? What happens when new classes of shoppers emerging from the “sharing economy” become the most common? Will these new shoppers change how groceries, household essentials, and beauty products are selected? Will the experiences of professional shoppers drive changes in brand preference? There are a lot of unknowns, but just as many opportunities.

Accelerated change presents new opportunities for improving shopping experiences

Man retrieves groceries from front porch after contactless deliveryCOVID has accelerated the emergence of new realities for every B2C organization, from wholesale clubs to electronic stores to grocers. Platforms such as Instacart and Door Dash have stepped up to create new experiences for shoppers that change the relationship between store and consumer. Competition for share-of-wallet takes on a new dynamic when brands innovate to maximize their chances of sustaining, retaining, and expanding their consumer base through these and other emerging consumer-enablement business models. Simple proximity, store appeal, and even price may not be as important as they once were to the coming generations of shoppers.

Retailers need to find ways to remain competitive with their existing base of consumers who use traditional shopping channels while simultaneously embracing these new shopping experiences. Customer experience research has never been of greater importance, and it is critical that consumers be engaged in these new experiences so that their opinions and experiences are properly accounted for.

With new experiences bombarding consumers — and retailers facing new forms of shoppers and competition — seeking direct input from consumers and engaging them in a proactive and mutually beneficial conversation is of great importance. Traditional methods of consumer engagement remain relevant and need to be leveraged to their fullest potential, while new methods of engagement should also be embraced and developed.

Bellomy's The cover of Bellomy's whitepaper titled "Five text analytics myths you should stop believing." Unstructured data is complex and so are the tools used to analyze it. Make sure you’re not falling for one of these five common text analytics misconceptions — but here's what to do about it if you are.

An eye on the competition

Subtle differences in how brands and individual stores enable these new consumer experiences will shape the future of shopping. Retailers need to focus heavily on their own unique appeal and experiences but also remain closely aware of how their competitors are engaging consumers. Receipt-based surveys, targeted consumer surveys from panels, and other methods will have increasing value. Consumers are also sharing more through online platforms such as Google Store Reviews, and those experiences can be a treasure trove of competitive knowledge.

Text Analytics is the right tool to mine available data and propel retailers forward

Screenshot of Bellomy's Text Analytics platform showing trending data on Google Reviews of supermarket departments.The nuances of these consumer experiences can only be fully understood through the application of modern text analytics systems. These systems can sift through a myriad of responses to identify the valuable nuggets that differentiate one brand from another, joyful experiences from ones that incite anger, and ultimately what captures the hearts and minds of consumers.

Use text analytics to maximize share-of-wallet, identify opportunities for improvement, spot emerging trends, understand how competitors are adapting, and differentiate the new shoppers from traditional ones.

See how it could work for your organization

Request a demo of Bellomy’s Text Analytics tool to see for yourself how the tool can help your brand rapidly leverage consumer feedback and take action.