Getting Inside the Customer's Mind

Source: Business Week September 22, 2008

Authors: Burt Helm

Concept: Specific targeting

Brief Synopsis: This article discusses the data research shop Dunnhumby, a company that crunches the data from stores sales to determine what products are popular and what product retain customers. In this way, stores are able to cater to the local community. Recently, in this recession, Macy's has hired Dunnhumby to help with its store by store strategy.

My Thoughts: I believe catering each store to the individual community is the way to really satisfy customers. Consumers shopping at Wal-Mart in rural America don't want the same things that consumers in cities want. Therefore, it is necessary for retailers to cater to individual communities to be profitable. Insight to consumer buying habits can only better profitability and inventory turnover!