With Memorial Day weekend coming up, stores are going to get a preview of how customer behavior has been changed from the pandemic and shutdowns.
Some stores and segments might see their usual spike, while others might not notice anything at all.
This can be a preview of the remainder of the year and the winter holiday season specifically.
Will customer behavior go back to normal?
Will ecommerce continue to benefit from people staying near home?
Will in-person retail take back the gains ecommerce saw in 2020?
Or will customer behavior never be the same again?
This weekend will definitely be a test canary to see how behavior has changed.
Whatever happens, being able to watch for these changes and adapt to them will be important. As I wrote about yesterday, cohort-based reports like in Repeat Customer Insights will be the best early indicator of changes. Overall store performance and deep history reports (RFM, Latency, trailing 12-month, etc) will be helpful but lag might make it difficult to notice any behavior changes until months from now.
Definitely an interesting time to be watching the data. Just be ready to adapt and evolve.
Learn which products lead to the customers who spend the most
You can use the First Product Analysis in Repeat Customer Insights to see which products lead to the customers who spend the most. Going beyond best sellers, it looks at the long-term purchasing behavior of your customers.