Yesterday’s
The Economic Times carried a
story on the way Nordstrom, an American fashion retailer, is leveraging
social insights for in-store marketing and I haven’t stopped raving about it
since.
 |
| Screenshot of Nordstrom's Pinterest page which is very popular |
In
March, the department store chain started marking its “most pinned” products
from Pinterest with little ‘P’ logos at two stores near its Seattle
headquarters. Now Nordstrom has expanded the initiative to 13 of its 248
locations in a trial that will end just before the company’s big anniversary
sale later this month.
 |
| Products pinned with a 'P' at a Nordstrom store |
It
seems such a simple and small idea, yet it’s something that very few brands are
doing here in India. Of course Pinterest is very nascent, but the idea could be
replicated with the network that’s most prominent here .i.e. Facebook. All it
takes from a brand perspective is to assimilate all of this social data
together, turn them into easily understandable customer centric insights. These
insights can then be used in product packaging, in store merchandizing and in
online purchase stores too. Once these insights are inserted in the packaging
or anywhere near the point of sale, it acts as a trigger in consumer purchases.
It’ll also help the brand understand the product or service most in demand and
thereby keep good stock of it. And the best part, that this can be implemented
across industries and for products and services.
From
a consumers’ perspective, while they’re shopping online or at a physical store,
it helps them understand the most popular products or services, which would be
immensely helpful in making a purchase decision.
Apart
from that, the Nordstrom case is a great example of the several possibilities
that exist with social and social data. It need not necessarily be big or
grand, to have a huge impact.
In
case you know of more companies that are using social insights in a big way, so
leave a comment in the stream below.
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