IDEAS home Printed from https://ideas.repec.org/a/zib/zbmecj/v7y2023i2p90-96.html
   My bibliography  Save this article

Customer Behavior Analysis Through Data Analytics In The Bangladeshi Retail Industry

Author

Listed:
  • Fardin Aziz

    (American International University-Bangladesh)

  • Tausif Al Haque

    (American International University-Bangladesh)

  • Maria Bentha Hossain

    (Daffodil International University)

  • Abdur Rahman

    (North South University)

  • Saleh Ahmed Jalal Siam

    (American International University-Bangladesh)

Abstract

This qualitative study aims to investigate the state of customer behavior analysis in the Bangladeshi retail industry, with a particular focus on the role of data analytics. The research seeks to explore the current practices, challenges, opportunities, and best strategies employed by retailers in understanding and responding to customer behavior. The Bangladeshi retail industry has witnessed substantial growth driven by factors such as economic development, urbanization, and evolving consumer preferences. In this evolving landscape, retailers increasingly rely on data analytics to gain valuable insights into customer behavior, optimize business operations, and enhance customer experiences. Understanding customer behavior is vital for retailers to tailor their strategies to meet the ever-changing needs and preferences of Bangladeshi consumers. This study employs qualitative research methods, including in-depth interviews with key stakeholders in the Bangladeshi retail industry. The sample size comprises 40 participants, and data analysis involves a thematic approach. The study explores the current state of customer behavior analysis, challenges, opportunities, best practices, and strategies related to data analytics within the retail sector. The findings reveal a growing integration of data analytics in customer behavior analysis, with retailers utilizing various data sources such as point-of-sale data, online transactions, and customer surveys. Challenges include data security concerns and the need for skilled data analysts, while opportunities encompass improved customer retention, enhanced personalization, and more effective marketing campaigns. Best practices emphasize fostering a data-driven culture, collaborating with external data analytics experts, and continuous staff training. The study’s insights have implications for the Bangladeshi retail industry, highlighting the transformative potential of data analytics in adapting to evolving customer preferences and remaining competitive. Recommendations include clear objective setting, investment in data security measures, and the pursuit of external expertise when needed.

Suggested Citation

  • Fardin Aziz & Tausif Al Haque & Maria Bentha Hossain & Abdur Rahman & Saleh Ahmed Jalal Siam, 2023. "Customer Behavior Analysis Through Data Analytics In The Bangladeshi Retail Industry," Malaysian E Commerce Journal (MECJ), Zibeline International Publishing, vol. 7(2), pages 90-96, October.
  • Handle: RePEc:zib:zbmecj:v:7:y:2023:i:2:p:90-96
    DOI: 10.26480/mecj.02.2023.90.96
    as

    Download full text from publisher

    File URL: https://myecommerecejournal.com/wp-content/uploads/2023-issue2/2mecj2023-90-96.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.26480/mecj.02.2023.90.96?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Shahriar Akter & Samuel Fosso Wamba, 2016. "Big data analytics in E-commerce: a systematic review and agenda for future research," Electronic Markets, Springer;IIM University of St. Gallen, vol. 26(2), pages 173-194, May.
    2. Nabi, Nazia & O’Cass, Aron & Siahtiri, Vida, 2019. "Status consumption in newly emerging countries: The influence of personality traits and the mediating role of motivation to consume conspicuously," Journal of Retailing and Consumer Services, Elsevier, vol. 46(C), pages 173-178.
    3. Theodor Purcărea & Valeriu Ioan-Franc & Ştefan-Alexandru Ionescu & Ioan Matei Purcărea & Victor Lorin Purcărea & Irina Purcărea & Maria Cristina Mateescu-Soare & Otilia-Elena Platon & Anca-Olguța Orza, 2022. "Major Shifts in Sustainable Consumer Behavior in Romania and Retailers’ Priorities in Agilely Adapting to It," Sustainability, MDPI, vol. 14(3), pages 1-51, January.
    4. World Bank, 2020. "Global Economic Prospects, January 2020," World Bank Publications - Books, The World Bank Group, number 33044, August.
    5. Md. Farijul Islam & M.M. Mofiz Uddin & Md. Mominur Rahman, 2023. "Factors affecting retailer social responsibility: a PLS-SEM approach in the context of Bangladesh," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 20(3), pages 605-625, August.
    6. Banerjee, Mohua & Mishra, Manit, 2017. "Retail supply chain management practices in India: A business intelligence perspective," Journal of Retailing and Consumer Services, Elsevier, vol. 34(C), pages 248-259.
    7. Prabhu Pingali & Mathew Abraham, 2022. "Food systems transformation in Asia – A brief economic history," Agricultural Economics, International Association of Agricultural Economists, vol. 53(6), pages 895-910, November.
    8. Khorshidvand, Behrooz & Soleimani, Hamed & Sibdari, Soheil & Seyyed Esfahani, Mir Mehdi, 2021. "Revenue management in a multi-level multi-channel supply chain considering pricing, greening, and advertising decisions," Journal of Retailing and Consumer Services, Elsevier, vol. 59(C).
    9. Knight, Patrick & Biewald, Bruce & Takahashi, Kenji, 2022. "The cost of energy efficiency programs: Estimates from utility-reported datasets," Energy, Elsevier, vol. 239(PE).
    10. World Bank, 2020. "Global Economic Prospects, June 2020," World Bank Publications - Books, The World Bank Group, number 33748, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Orietta Nicolis & Jean Paul Maidana & Fabian Contreras & Danilo Leal, 2024. "Analyzing the Impact of COVID-19 on Economic Sustainability: A Clustering Approach," Sustainability, MDPI, vol. 16(4), pages 1-30, February.
    2. Quibria, M.G., 2020. "Poverty and Policy in the Developing World: Before and After the Pandemic," MPRA Paper 104240, University Library of Munich, Germany, revised 15 Oct 2020.
    3. Ștefan Cristian Gherghina & Daniel Ștefan Armeanu & Camelia Cătălina Joldeș, 2020. "Stock Market Reactions to COVID-19 Pandemic Outbreak: Quantitative Evidence from ARDL Bounds Tests and Granger Causality Analysis," IJERPH, MDPI, vol. 17(18), pages 1-35, September.
    4. Abdoul’ Ganiou Mijiyawa & Djoulassi K. Oloufade, 2023. "Effect of Remittance Inflows on External Debt in Developing Countries," Open Economies Review, Springer, vol. 34(2), pages 437-470, April.
    5. Isaac K. Ofori & Mark K. Armah & Emmanuel E. Asmah, 2021. "Towards the Reversal of Poverty and Income Inequality Setbacks Due to COVID-19: The Role of Globalisation and Resource Allocation," Working Papers 21/043, European Xtramile Centre of African Studies (EXCAS).
    6. Hadzi-Vaskov Metodij & Pienknagura Samuel & Ricci Luca Antonio, 2023. "The Macroeconomic Impact of Social Unrest," The B.E. Journal of Macroeconomics, De Gruyter, vol. 23(2), pages 917-958, June.
    7. Ian M. McDonald, 2020. "Macroeconomic Policy to Aid Recovery after Social Distancing for COVID‐19," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 53(3), pages 415-428, September.
    8. Amrita Ahuja & Susan Athey & Arthur Baker & Eric Budish & Juan Camilo Castillo & Rachel Glennerster & Scott Duke Kominers & Michael Kremer & Jean Lee & Canice Prendergast & Christopher M. Snyder & Ale, 2021. "Preparing for a Pandemic: Accelerating Vaccine Availability," AEA Papers and Proceedings, American Economic Association, vol. 111, pages 331-335, May.
    9. Decerf, Benoit & Ferreira, Francisco H.G. & Mahler, Daniel G. & Sterck, Olivier, 2021. "Lives and livelihoods: Estimates of the global mortality and poverty effects of the Covid-19 pandemic," World Development, Elsevier, vol. 146(C).
    10. Assaf Razin, 2021. "Globalization and Global Crises: Rest of the World vs. Israel," NBER Working Papers 28339, National Bureau of Economic Research, Inc.
    11. Yannick Markhof, 2020. "Pakistan's social protection response to the COVID-19 pandemic: the adequacy of Ehsaas emergency cash and the road ahead," One Pager 461, International Policy Centre for Inclusive Growth.
    12. Seonho Shin, 2025. "The impact of COVID-19 on cultural and arts activities: evidence from a large-scale micro-level survey in South Korea," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 49(1), pages 193-229, March.
    13. World Bank, 2021. "Indonesia Economic Prospects, December 2021," World Bank Publications - Reports 36732, The World Bank Group.
    14. Marcos Deuñas & Mercedes Campi & Luis Olmos, 2020. "Changes in mobility and socioeconomic conditions in Bogotá city during the COVID-19 outbreak," Working Papers 30, Red Nacional de Investigadores en Economía (RedNIE).
    15. Nasir Ababulgu & Nugusa Abajobir & Hika Wana, 2022. "The embarking of COVID-19 and the perishable products’ value chain in Ethiopia," Journal of Innovation and Entrepreneurship, Springer, vol. 11(1), pages 1-25, December.
    16. Dueñas, Marco & Ortiz, Víctor & Riccaboni, Massimo & Serti, Francesco, 2021. "Assessing the Impact of COVID-19 on Trade: a Machine Learning Counterfactual Analysis," Working papers 79, Red Investigadores de Economía.
    17. MARINOV, Eduard, 2022. "The Transforming Role Of Developing Countries In Global Trade," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 10(1), pages 264-275, October.
    18. World Bank, 2020. "India Development Update, July 2020," World Bank Publications - Reports 34367, The World Bank Group.
    19. Metodij Hadzi-Vaskov & Mr. Luca A Ricci, 2019. "The Nonlinear Relationship Between Public Debt and Sovereign Credit Ratings," IMF Working Papers 2019/162, International Monetary Fund.
    20. Ha, Jongrim & Kose, M. Ayhan & Ohnsorge, Franziska, 2023. "One-stop source: A global database of inflation," Journal of International Money and Finance, Elsevier, vol. 137(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zib:zbmecj:v:7:y:2023:i:2:p:90-96. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Zibeline International Publishing The email address of this maintainer does not seem to be valid anymore. Please ask Zibeline International Publishing to update the entry or send us the correct address (email available below). General contact details of provider: http://myecommerecejournal.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.