Canadian Tire Corporation, Limited announced that it has engaged a provider of customer centric analytics to help it better understand its customer base.
The move to work with customer centric analytics provider dunnhumby is intended to help Canadian Tire better understand its customers and improve its approach to marketing, merchandising and overall customer service.
“Our customers are at the heart of our company and our growth strategy,” said Stephen Wetmore, president and CEO, Canadian Tire Corporation. “Understanding our customer better means we can create a more consistent experience and offer products, services and promotions that meet the specific and every day needs of our customers and create an incredible competitive advantage.”
The customer centric retailing (CCR) methodology developed by dunnhumby uses a complex analysis of customer shopping data to drive better business decisions. Canadian Tire will leverage one million daily customer transactions from across its operations. The company plans to use the information from these transactions to provide strategic insights that will improve the overall customer experience while improving profitability.
Canadian Tire has one of the most loyal customer bases of any retailer in Canada. Today, two-thirds of high value customers are in a Canadian Tire store at least once every two weeks and 98% of Canadians surveyed can correctly identify the ‘triangle’ unaided as being associated with Canadian Tire.
The move to customer centric retailing and development of a new loyalty program are separate but closely related initiatives that will build commitment to the Canadian Tire brand. To support the CCR approach, Canadian Tire and dunnhumby are working to evolve its loyalty programs to better serve its customers through targeted offers, promotions, and value-added services.