Market share is a largely ignored performance metric for retailers, not because it isn’t valuable, but because it isn’t accessible. Typically market share metrics are sourced from quarterly reports where data is stale, limiting actionability.
The ability to measure market share in real-time will disrupt the way retailers determine the success of the marketing efforts. Today, retailers measure performance in various ways including return on ad spend (direct response), and in-store sales (branding, promotional). By measuring market share, retailers are able to take a macro view on their marketing efforts that expands beyond their brick and mortar walls.
Quantifying performance by market share allows retailers to look at the entire retail ecosystem, versus a siloed approach to marketing. By using market share as a key metric it allows retailers to optimize to gain share of wallet. Understanding market share allows marketers to build campaigns to capture the $1.44 spent at competitors for every $1 spent with them.
Placed recently released their 2012 Holiday Retail Insights providing a first glimpse into retail market share, which includes surprising volatility.
Wireless Carrier Retail Stores - Market Share
Verizon and AT&T wrestled for the top position in terms of wireless carrier store visits in the last six weeks of the holiday shopping... Read more