Customer data has become one of the most valuable things a retailer owns.
Customer data has become one of the most valuable things a retailer owns, with Tesco using it to drive its growth and the Boots advantage card helping the retailer to stay relevant to its customers.
Now Kingfisher PLC, parent company of DIY retailer B&Q, has said it plans to invest in technology to help it use customer data to its advantage. CEO Ian Cheshire said at the National Retail Federation conference in New York, “We are just about to invest to go after data mining much more seriously.” He added the company doesn’t have a loyalty card so needs a “slightly different handle”. The announcement comes two months after it was announced that Pascal Cagni, Apple’s vice-president, would be joining Kingfisher’s board.
Cheshire said he expects huge wins from analysing data, particularly around home improvement projects that centre around major life events, such as moving house. He said the company will be suggesting products a consumer might need, based on what it knows about him or her.
“We have got a long way to go on this but I’m very excited about becoming much more data driven.”
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