Statistics collected by Media agencies suggest that Teenagers are spending more time on the Web than watching TV. This is a huge inflection point as web has replaced TV as a more engaging channel. And within Online channel , Blogging and Online videos ( youtube etc ) seem to be most engaging activity. What that means is that it is important for retailers to track if shoppers express sentiment about the instore experience or product attributes online ? There are 2 kinds of scenarios which can be envisioned here.
Scenario-1 : When shoppers are expressing about their instore experience on http://www.yelp.com/ or http://www.mouthshut.com/ or http://www.eopinions.com/. But the sentiment volume has not reached a threshold where it has started influencing footfall, basket size and revenue per shopper.
Scenario-2 : The volume of sentiment expressed on online platform has reached a critical stage where more shoppers are coming to the store or the number of shoppers / basket size has decreased.
What this means is to that the retailer needs to have a framework which can keep track of the buzz velocity online and track in real time the effect of buzz velocity on instore footfall and basket size.
Posts
