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Retailers Mine Consumer Feedback to Turn Data Into Gold
By: Daniela Ciocan
Posted: March 22, 2013, from the April 2013 issue of GCI Magazine.
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Finally, we spend quite a bit of time analyzing online search data on brands, new categories, beauty trends and more. We’ve found that Google can be helpful in providing a clear view of what’s really happening out there, in addition to strong beauty blogger engagement.
Lotty Eidelman, Commercial Vice President and Board Member, Fedco (Colombia)
Estimated U.S. volume: $73.2 million; retail outlets: 35 brick-and-mortars, e-commerce platform (www.fedco.com.co)
Our focus is always the consumer; we strive to ensure customer satisfaction and loyalty. We have a dedicated customer services team that collects and channels all comments, feedback and requests. We value this information and use it as the basis for future decisions—in particular, decisions around product assortment for individual stores is highly connected to local feedback and demand.
In addition to the incoming consumer feedback, we perform a biannual survey on image and market positioning. The survey has material impact on Fedco’s offering, with as much as 80% of our products being determined by the results of this survey and the overall regular feedback received from consumers. This feedback allows us to provide the right combination of beauty, health and well-being products.
If data is the new resource for merchants, will consumers soon start to demand their share of its value? Already online sites such as beautyhabit.com and totalbeauty.com increase data flow by giving incentives to users. Will such steps translate to retailers? Increasingly, savvy consumers may start to reverse the flow by seeking to own their lifestyle data. They also may turn to companies that use this data to proactively offer help and advice back to consumers.
A word of warning as well—retailers and brands will have to walk a fine line between offering consumers a valuable—and ideally seamless—service and annoying them. Consumers want to feel served, but they don’t like to be infringed upon. It’s important to maintain the balance.
As director of marketing for SoGeCos Americas/Cosmoprof North America, Daniela Ciocan is responsible for keeping this professional trade show fresh. She implemented new initiatives such as Discover Beauty and the International Buyer Program, and selects the brands for Discover Beauty, a testament to her vision for what is hot in the industry. She previously was responsible for Awake Cosmetics’ luxury specialty store distribution launch in the U.S., overseeing all aspects of brand management, and following her success with establishing Kosé in the high-end market, she introduced several other brands, such as Sekkisei and Predia, into the masstige sector. Ciocan, who graduated magna cum laude from FIT, currently serves on the ICMAD advisory board and is chairwoman of the communication committee.