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RetailX Stream Roundup: Gathering data – and acting upon it

RetailX Stream is an exclusive 6-part series focused on everything Direct-to-Consumer; from engaging new shoppers, through to the intricate requirements of selling D2C in the luxury sector. 

In episode 3, we were joined by ecommerce leaders from Situ Live and The Watch Shop as they shared personal experience and expertise on D2C data – including hot topics, best practices and future trends. 

Digital Editor, Scarlette Isaac, covers the key points of discussion. Alternatively, you can watch the episode in full here or register for upcoming Stream events

Rachel Henwood, Senior Sales Consulting Director, EMEA at Oracle Retail on brand data when selling on marketplaces:  

“Predominantly, it’s around customer data so what has the customer bought? What’s the purchasing history? What might they have left in their basket that they’ve not purchased? You’ve probably not got things like wishlist data on there as well. Also, it’s probably the unstructured data on there as well so – are we picking up stuff from social media that might be of interest as well? It’s all of that really rich data that brands these days want to drive their business forward.” 

Warren Richmond, CEO of Situ Live on data to enhance the customer experience: 

“For us, it’s the distinction between personal data and where that’s shared – which we’re very very cautious with.The other key consideration is behavioural data. What are the masses really doing? What are they really interested in? Are they interested in the connected home? Are they really QR-coding? Are they really looking at D2C or current retail? 

“I think when we look at behavioural data, dwell time and what people really want and want to hear – that’s when it starts to get interesting. We go back to our purpose of really helping people become inspired to live a better life through really amazing products. If the data helps us to either personalise the journey or inform people to learn about things that is relevant to them then the data is doing its job. The data has to hang off a purpose which is how do we connect people to amazing products?” 

Robin Phillips CEO of The Watch Shop

“Increasingly we’re also a marketing partner for the brands and I would say that our core expertise is finding customers for them. So we have our own customer database and we’ve invested money into that to understand better who the customer is, what their demographics are, what they earn, how much they can afford, what their likes are, what their brand affiliations are so that we can produce a reasonable segmentation of that database which we can share with the relevant brands and say ‘these are the hotspots in our audience for you.’” 

Final thoughts from Henwood on growth in data: 

“One of the hot topics at the moment is sustainability and we all know that’s a global thing – not just focused on retail. And part of it is going to become legal requirements where retailers, along with other organisations have to report around sustainability and we’re starting to see that become more and more prevalent now. 

“Also, customers are demanding it, so retailers are now coming to us to ask how we can help with their sustainability reporting. So whether that’s being able to understand the supply chain, the manufacturing process, the touch points within the supply chain or being able to  report on your water consumption in a factory in India. That will become more and more important as time moves on, not only from a regulation perspective but also a customer perspective.”

Want to hear more from our expert guests? Click here to watch the full webinar. 

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