The card is certainly a valuable source of information. It allows you to understand your customers’ consumption habits, the times they prefer to shop at your store, the average basket, the most popular items, the preferred range level, and so on. But without careful analysis, these results are useless.
The world of competition has changed dramatically in recent years. That's understandable, because the way in which retail reaches and serves its customer base is constantly changing. In this regard, think of the entire Internet, which is open to all kinds of providers. But let's stay focused on the competition of physical locations. It definitely makes sense to see exactly what those competitors are doing and why their customers are choosing them.
Consumers expect to be able to order any time and anywhere, that they immediately know whether their product is available online or offline, and that their order can be delivered in the way that suits them best. In short, the modern consumer wants to choose where and when they shop and, what's more, they are continuously connected with their smartphone and tablet.
Do you manage a fantastic shop that just doesn’t make enough sales? Or a sales point from your franchise that stays well below target numbers? Or do you have a shop that still doesn’t generate the expected turnover several years in a row?
For this fourth analysis, we looked at the changes in the income of Belgian inhabitants between 2011 and 2019 (the most recent year for which official data is available). This refers to the gross income for the full year for all inhabitants, regardless of their age. This approach helps to eliminate the effect of joint reporting by married couples or statutory cohabitants.
In this third article, we examine the changes in the size and types of households. In 2021, Belgium had 11,5 million inhabitants divided into 5 million households. The average household size in Belgium is 2,3 people per household. When we look at how this average family size has evolved over the last decade, we see that the size has remained fairly stable.
The subject of this second article: is the Belgian population getting older? To answer this question, we looked closely at the age of the Belgian population in 2011 and in 2021. We used the age of each inhabitant and analysed averages, evolutions, etc.
Population changes affect every merchant and non-merchant company that has direct contact with the end consumer. Through a series of articles on Belgian demographics, you will discover the changes in the population structure over the last ten years and how these changes affect you. The first essential question: is the Belgian population growing?
The location of a store is by far the most important element affecting its operation. Whatever your sector of activity, when you choose a location, you choose your potential customers. In this article, our geomarketing experts show you the most important elements in the search for locations for the opening of a store.
Buying online has become commonplace for most households. Around 90% of consumers between the ages of 18 and 65 made at least one online purchase in 2020. Store closures did not generate significant growth in the number of buyers, but they did lead to an increase in the buying frequency, mainly for specific types of products.
Managing a point of sale network is a dynamic and continuous project, requiring a careful eye to be kept on numerous aspects. This year's economic crisis will strengthen the need for profitability, or even restructuring. Recurring questions such as “Where can we open new stores? Where can we increase our market share?” are gradually giving way to thoughts about rationalisation: “What is the impact of a store closure or relocation? How can we maintain good market coverage with fewer points of sale?”.
When looking for data to personalise their offer and communication according to their customers’ needs, many companies set up loyalty card systems. This is an excellent way of harvesting detailed data, which also provides a benefit to customers in the form of points, discounts or other gifts. Analysis of this data and usage in analytical models makes it possible to improve your customer knowledge and is a real gold mine when it comes to segmenting and targeting your customers, and even predicting their next purchases.
We were recently asked to provide more information on Belgian consumers and their purchasing habits. What does the Belgian consumer look like and what drives him? What opportunities does this offer retailers? As a geomarketing expert SIRIUS Insight has a great deal of knowledge about Belgian consumers and their specific characteristics. We crossed this data with the catchment area of the 50 largest inner-city shopping areas in Belgium to get the insights listed below.
Knowing your customers better so that you can attract new ones: that's the essence of customer profiling. Customer profiling is a technique widely used in (geo)marketing, making it possible to precisely target the customers and prospects of most interest to your business. Discover the different profiling techniques and the opportunities associated with them.