This Whole Foods Market in Chicago is bustling with customers. The Amazon acquisition promises to help the chain refine its customer relationship through analytics.
A Retail Traffic magazine article talks about how value is not a function of price but a function of utility, how much potential use a customer sees in a given item. The commentary is a reminder of Warren Buffett's quote -- "Price is what you pay for; Value is what you get." The point of the article is understanding how value is defined differently for Generation Y and Baby Boomers.
For online retailers, the puzzles pieces needed to create the picture can lie in a review of web analytics data. Defining segmentation and inferring the consumer interest at the website can help develop a fully picture of what items appeal from a value standpoint.
