The executive vice president of Hudson's Bay Company in Canada (a major retail chain) said in an interview, "We have to be able to offer customers what they want when they want it. We need better insight into their spending-we have gaps in knowledge of how customers spend." Which type of interactions would provide the retail chain the best opportunity for learning about its customers?

Question

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Point of sale interactions, where customers are making purchases, would provide the most direct and specific information about how customers are spending their money. This data can then be used to improve the company's customer insights and better meet customer needs. Relationship-based interactions may also be useful, but they require more effort from both the company and the customer to establish and maintain. Retail-centric and sales-oriented interactions may not provide as much detailed information about customer spending habits.

The Executive Vice President of Hudson's Bay Company in Canada