December 8, 2021

Why Today's Retailers Need New Data Sources (And How To Access Them)

Close up of man's wrist with smart watch

Smart, wearable technology spending grew by 18.1% in 2020.  By the end of 2021, shipments of wrist-worn wearables are estimated to grow by an additional 20%.  Spurred in part by the global pandemic, interest in health and wellbeing is exploding, and consumers are investing in personal tech to monitor and improve on their health goals. 

How does this relate to retailers?

The answer is obvious for those who sell wearable technology, but there is in fact even more potential behind the consumer appetite for personal health.  For retailers and global brands looking to enhance consumer experience, integrating wellness-focussed features into existing consumer facing apps can empower new connections with customers and open up access to  valuable data sources.  Imagine enriching your existing transactional and marketing data with health, lifestyle and behavior data to drive customer engagement, personalization and loyalty.

The global pandemic has changed not just where and how consumers shop, but also who they shop with. 75% of consumers continue to switch brands, according to a McKinsey study.  Retailers need to strengthen their ties to consumers by providing meaningful reasons for engagement.  

A loyal customer, one who returns to your brand again and again, isn’t basing their purchasing choices on price alone.  They are looking for exceptional experiences with brands they know, trust and that make them feel like they’re part of a community.  Adding a layer of health, lifestyle and behavior data allows businesses to move from generic to meaningful interactions.  For example, a sporting goods store could nudge customers who reach a threshold step count towards purchasing new shoes with a limited time offer.  Grocery retailers could send congratulatory messages when customers reach healthy eating goals.  Retail pharmacy chains could deliver relevant content to help support their customers in their wellness journey.

Today's customers want personalized experiences, offers, and promotions designed just for them, and 65% are willing to share their data in order to get it.  Giving your customers the ability to integrate their wearables with your app, and rewarding them for their healthy behaviors, demonstrates the value you have for them, beyond their purchasing power.  Customers care about this.  Brands that align their values with those held by their customers are rewarded with loyalty; 71% of consumers prefer to shop with companies that share their values and returning customers spend 67% more than new ones.

Sprout Open Health API™ powers your mobile app with features designed to drive engagement and deepen your relationship with every customer at a personal level. Customer engagement is about offering tangible value and maintaining a connection beyond the transaction so that your brand is at the forefront when the next purchase behavior begins. Our proprietary RESTful API solution provides access to 14 scientifically-tested and market-validated features including our Real-Time Health Risk Assessment™, multi-sync smartphone & wearable device integrations, and engaging educational content. Our solution is designed to engage your customers between transactions and enhance their relationship with your brand, all while providing your organization with valuable new health, lifestyle and behavior data to understand your customers better than your competitors.

To learn more about how Sprout Open Health API is transforming businesses, contact us today.

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