Learn how to leverage consumer transaction data for market and competitor research, channel sales analysis, and shopper behavior evaluation

In today’s dynamic global economy, understanding consumer behavior is paramount to staying competitive and relevant. Data is one of the most valuable resources for achieving this edge—but what kind of data? Choices abound for retailers and consumer brands: point-of-sale data, customer surveys, industry reports, and transaction data.

Consumer Edge is a leader in transaction data, with decades of experience providing the biggest hedge funds and investors in the world with consumer credit and debit card spending data. While other types of data may offer companies valuable insights, credit and debit card transaction data provides a true pulse on what your customer is actually purchasing. This source of truth serves as a compass, helping you navigate the intricate maze of consumer behavior, and enabling better informed business strategies.

Why Consumer Transaction Data Matters

Evaluating Top Competitors

In the constant fight for market share, keeping a keen eye on competitors is crucial. Consumer transaction data offers a wealth of insights, from geographic breakdowns to demographic personas, into your known rivals as well as newcomers to watch. By analyzing this data, you can uncover vital information about your competitors’ products or services, pricing strategies, and customer engagement tactics. This intelligence allows you to identify areas where your competitors excel and market gaps where you can outperform them, simplifying strategic growth planning.

Understanding Channel Breakout

The channels through which consumers interact with your business hold key information that can influence your marketing and distribution strategies. Consumer transaction data provides a detailed breakdown of sales across various channels—online, brick and mortar, and third-party retailers. Understanding which channels are most effective for different demographics and geographies helps in optimizing resource allocation and tailoring marketing efforts, demand planning, and sales strategy for maximum impact.

Analyzing Promotion Effectiveness

For global and household brands, promotion strategy is an integral part of overall success. Monitoring effectiveness can be challenging without accurate, timely data. Consumer Edge’s transaction data is in your hands in a matter of days post-purchase, allowing the ability to track the success of your promotions in near real-time. By evaluating the effectiveness of your promotions compared to your competitors’ promotions, you can refine strategies to course-correct or to increase your investment. CE’s rich historical transaction data allows you to see shifts in promotion results over time, allowing you to plan for seasonality and better streamline operations to align with desired business results.

Leveraging Consumer Transaction Data in Practice

Data-Driven Decision Making

Gone are the days of relying solely on intuition or guesswork, or even dated market research reports. Consumer transaction data empowers businesses to make data-driven decisions with fresh data. By harnessing the power of Consumer Edge’s platform dashboards fueled by data that accurately represents your customers, you can easily extract actionable insights that drive smarter decision-making across departments, from marketing and sales to consumer insights and product development.

Personalized Customer Experiences

Understanding consumer behavior at a granular level allows for the creation of personalized experiences. Access your brand’s share of wallet for your customers, see where else they’re also shopping, and weigh your market share against competitors. By analyzing transaction data, businesses can craft targeted marketing campaigns, launch cobranded promotions, and enhance customer satisfaction by offering new products that resonate with customer demand. Being more in-tune with your customers impacts customer loyalty, retention, and overall lifetime value.

Forecasting and Planning

Predicting future trends and demands is crucial for staying ahead in the market. Consumer transaction data, when analyzed effectively, enables you to forecast future consumer behavior. This foresight aids in inventory planning, product development, and overall business strategy formulation, reducing the risk of overstocking or missing out on market opportunities. Pursue new markets and expand your footprint with more confidence, knowing your strategy is based on factual customer behavior.

Analyze demographics for your customers or your competitors’ by cohorts like age and income in CE Vision dashboards.

Consumer transaction data isn’t just a collection of numbers; it’s a goldmine of insights waiting to be unlocked. What was once ‘alternative data’ is now table stakes for brands to stay at the forefront of their industry. Businesses that harness the power of consumer transaction data gain a significant advantage, with everything from competitive benchmarking and market trends to customer loyalty and cross-shopping data in simple dashboard view. Consumer Edge is the leading provider of consumer transaction data, and the only provider of global revenue signals. Our data offers insights into hundreds of industries, subindustries, tickers, and symbols year-round. Reach out if you’d like to benefit from using Transact US, CE Vision, or our other products to see how you can benefit from CE’s unrivaled consumer intelligence.