What is the benefit of the Scan It! data to Stop & Shop? What are some disadvantages, please be specific? How would you as the President of an organization assess the level of maturity of Stop & Shop's use of analytic? What concerns might shoppers have about their privacy?
What is the benefit of the Scan It! data to Stop & Shop?
With the use of Scan It!, Stop & Shop can now understand its customers better. It can understand minute by minute which items are moving, as well as the shopping habits of the customers. The app actually tracks the way customers move through the store, having the ability to track the traffic pattern. This can help the chain better merchandise the store to increase sales. It can use this data to increase sales through its use of coupons of partner items (graham crackers and chocolate for the marshmallow buyer, for instance). Access to customer's scan data can also allow the company to compare actual purchases to product's scan to alert it to potential issues (product overpriced, for instance). It can allow the company to target marketing information to particular customers as well. It can manage inventory better, replacing products based on actual movement ...
This solution discusses the benefit of the Scan It! data to Stop & Shop, as well as the disadvantages. It also describes how the President could assess the level of maturity of Stop & Shop's use of analytics, as well as concerns shoppers may have about their privacy. Includes APA formatted references.