Business: Big Data and Subscription Models

The business models operating under the concept of a subscription, such as Netflix, Amazon or even PriceSmart, can have great advantages over their competitors if they manage to properly manage the large volumes of data they handle.

Wednesday, November 13, 2019

The payment of subscriptions is not only for modern online services, as retail companies apply it in the region, as is the case of the supermarket chain PriceSmart.

Nicolás Maslowski, senior global vice president of experience at PriceSmart's partner, explained to Martesfinanciero.com that "... Membership and experience with partners is predominant in the retail world. The goal is to have an end-to-end horizontal experience on the sales floor. Wherever the consumer is, it is because they have a valuable experience, and in PriceSmart's case this proposal is special because we work with a membership business model."

You may be interested in "Where are the consumers who spend the most?"

Maslowski added that "... The key is to generate a rewarding experience in the consumer beyond what the sector traditionally does, which is to boost the sale of merchandise. Membership has become fashionable again and we see how other establishments are betting on that trend."

From the technological evolution it is possible generating information for the decision making of the companies, because according to the directive the consumers no longer only want the best product in quality to the best possible price, but they mainly want to save time in their experience of purchase and because of it the technology and the digital transformation are a great ally.

CentralAmericaData has the most complete georeferenced information system, which allows to identify patterns of behavior and consumer preferences in any market in Central America. We have detailed information on the number of people who travel through certain areas and their sociodemographic characteristics, such as sex, age, socioeconomic level and other relevant data such as interests and preferences. The tools provide information on the concentration of the population by age groups, fundamental data for making business decisions such as where to open a new sales point, where to make a marketing activation, among others.

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Consumers: Purchasing Decisions and Budgets

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Where are the consumers who spend the most?

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On average, consumers who belong to 30% of the group of people with the highest consumption capacity in the Metropolitan Area of San Salvador travel through the streets of Antiguo Cuscatlán, and 4 out of 10 are between 21 and 30 years old.

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Internet Searches and Consumer Preferences

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The information deriving from the searches made by people in a social network or a website can be analyzed through Big Data techniques, allowing the identification of consumer habits and their potential for growth.

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