Wine, Liquor, Data Science and Consumer Research: Some of Our Clients and How We Can Help
Competition is intensifying nearly everywhere, and margins are getting squeezed. Beverage companies are scrambling to understand product performance, their potential to reach into new markets, and the behaviors of their customers. That’s where data science comes in. Being a data-driven business is a clear competitive advantage in highly competitive retail liquor markets. Using data to make decisions helps companies understand their customers better and build lasting relationships with people who buy or will buy their products.
Data science can deliver rich insights that will differentiate your product and company from the rest. Market research and customer segmentation can help you understand the buying patterns of your customers so you can deliver the right products and the right time. Data analytics can help you understand the ebbs and flows of the market so you can adjust production accordingly. Predictive analytics can point you to the next iteration of your product line.
Wine and Liquor: Questions Data Science and Consumer Research Can Answer
Is there a predictable pattern in our sales data that we can use to adjust operations?
Do consumers want more options in everyday wine and liquor, or should we develop our luxury product line?
Who is buying our products? And what messages will resonate with each of our customer segments?
How do Millennials compare to non-Millennials when it comes to customer profile, behavior and preferences?
Which of our products are performing better than the others and why?
Are there differences between men and women that can help explain why woman are buying less alcohol than men? What can be done to improve sales by women?
How do women who buy alcohol compare to women who don’t buy alcohol?