Consumer Code
Unlocking Insights With Consumer Purchase Data (ft. Jonathan Silver)
Jan 24, 2025
Jonathan Silver, CEO of Affinity Solutions, shares his diverse journey from launching a potty training product to analyzing consumer purchase data. He delves into the importance of behavioral insights in retail, emphasizing how data-driven strategies can redefine consumer experiences. Jonathan highlights collaborations with the National Retail Federation and discusses unexpected spending patterns post-pandemic. The conversation touches on the critical role of mobile data and its impact on understanding demographic trends, crucial for adapting to the ever-evolving retail landscape.
50:27
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Quick takeaways
- Jonathan Silver emphasizes the transformative role of behavioral data over traditional survey methods in revealing authentic consumer spending patterns.
- Affinity Solutions' collaboration with the National Retail Federation shifts data analysis from surveys to real-time insights, empowering retailers for better decision-making.
Deep dives
The Value of Behavioral Data
Behavioral data is crucial for understanding consumer purchasing habits, and it offers a more authentic perspective than survey data. Affinity Solutions analyzes a massive dataset consisting of 18 billion transactions annually, providing insights into where consumers shop and the products they buy. This data not only helps retailers and investment firms make informed decisions but also serves as a vital resource for consulting agencies seeking to understand consumer behavior. The ability to correlate this data with publicly available information enhances its reputation as a leading source of consumer spending insights.
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