Absa Insights is a portal where the bank’s sector experts share essential learnings and new developments with its clients and other businesses. The world is changing; so in 2019 Absa has introduced a series of events featuring high-level thinking around Consumer Goods and Services, Agriculture, Telecommunications, Mining and Energy and Infrastructure. Bookmark Absa Insights, where the bank shares insights from these events to help you navigate the ever-shifting trends that are shaping the economy.
Listen to the audio below (or scroll down for a summary of it).
Absa gathers data with point-of-sale card machines, of which it has a 70% market share. It also derives data from consumers wherever they're using an Absa card.
You take this data [from Absa], you take your client's data, and you take some data out there, and it becomes really rich...— Isana Cordier, Sector Head for Consumer Goods and Services - Absa CIB (speaking at an "Absa Insights" event)
A platform Absa calls “Pocket Flow” then visually presents to its merchants – big or small – powerful insights from the data such as (but not limited to):
Customer spend by region
Total customer spend, total spend in-store, and overall spend online
Total year-on-year growth, total year-on-year growth by region
Customer spend by day, and time of day
Top payment method
Top-3 product/service categories (and top payment method by category)
- Customer activity (gender breakdown, average number of visits per month, average age, average spending per visit)
Analysing digital footprints through tools such as Google Analytics shows you the pre-shopping behaviour while Pocket Flow shows you actual transacting behaviour.
How would you market differently if you had this power at your fingertips?
[Watch] Isana Cordier explains in detail how “Absa Pocket Flow” works and how powerful, yet simple it is.