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Majority of UK SME retailers don’t prioritise insight for strategy and planning

UK retailers consider insight important to business but lack the time and skills to use it effectively

London, UK – 1st March 2011 – British retailers may still be living in the short term, focusing on sales rather than strategy, suggests new research into the sector. The FileMaker Insight Awareness Report, published today, shows that UK retailers are more interested in gaining insight that aids customer service (65 per cent) and sales and marketing (62 per cent) rather than risk management (23 per cent) or strategic business planning (22 per cent). 

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Examining the attitudes of 100 UK SME retailers, the FileMaker Insight Awareness report shows a sector drowning in a virtual deluge of data with 83 per cent of survey respondents citing more access to business data than they had five years ago. Nor is gaining access to information considered challenge, with 65 per cent of respondents claiming to find it easy to collect information that feeds into their metrics and KPIs. However, only half (50 per cent) are satisfied with their company’s ability to translate data into actionable insight.

Although the majority of respondents agree insight aids decision making (47 per cent) and that insights are closely linked to business strategy (45 per cent), in practice few are able to implement an insight-led strategy in their business. Fifty per cent cited a lack of time or competing priorities, while 34 per cent felt they lacked the staff and/or skills to turn data into insight. In fact, 25 per cent of retailers surveyed felt they had more data than they could use effectively.

Other highlights findings included:

• 91 per cent of respondents have at least one tool to process customer information, but only 27 per cent have data on customer satisfaction or loyalty; 75 per cent have no CRM system

• 48 per cent are using electronic communications for marketing purposes, but only 22 per cent have implemented a data warehouse or customer intelligence system to make sense of the information from the responses those communications can generate

• 41 per cent spend more time retaining than attracting customers but only 26 per cent have any kind of loyalty scheme in place

• 50 per cent believe social media provides a useful source of customer and market insight, implying that requests for information or informal contact sometimes take the place of systematic data collection

• However, 46 per cent are not using any of the major social media channels (YouTube, MySpace, LinkedIn Twitter and Facebook)

“With the focus placed squarely on gathering marketing and sales information, it looks like UK retailers are treading water to some extent; prioritising tactical survival techniques over strategic business planning,” says Tony Speakman, Director, FileMaker Northern Region, “While factors such as economic recovery are justifiably hard to predict, a clear understanding of the tools that are available for collecting and analysing meaningful data can go a long way towards setting an achievable long-term agenda.”

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About the research
The FileMaker Insight Awareness Report is one of a series, commissioned by FileMaker UK, which investigates the attitudes towards data, information and insight across a variety of UK organisations and sectors. Research for this report was conducted in January 2011 by Loudhouse, an independent research and consultancy firm based in London. Respondents were planners and strategic managers within 100 small to midsize UK retail businesses (10-250 employees).

About FileMaker
FileMaker is the leader in easy-to-use database software. Millions of people, from individuals to some of the world's largest companies, rely on FileMaker software to manage, analyse and share essential information. The company’s products are the FileMaker Pro line - versatile business database software for teams and organisations, for Windows, Mac, iPhone, iPad and the web - and Bento, the personal database for Mac, iPhone and iPad. FileMaker, Inc. is a subsidiary of Apple.

Customer contact:
0845 603 9100
www.filemaker.co.uk

Media contact:
Kirstin Beveridge
0845 3700 655
Kirstin@octopuscomms.net