Change is a crucial factor in every sphere of business function, and marketing, being a core business operation, is also experiencing rapid evolution at present. It is catalyzed by advancements in the fields of eCommerce, mobile computing, social media, digital platforms, SaaS, and of course, shifts in consumer demographics.
A report by Statista, predicting that by 2023, 22% of retail sales will be attributed to e-commerce, increasing access to data bandwidth, and the emergence of millennials as chief wage earners around the globe, indicates a fluid socio-economic and technological landscape. We can assume the growing predominance of such factors in defining the objectives of marketing initiatives. In this scenario, for building an omnichannel, customer-centric experience, it is crucial to develop a profound understanding of consumer behavior, through rigorous study of empirical datasets.
