- by SRS1, Master Analyst
- 1/20/2014 6:58:52 PM
If online retailors offer a wider range of goods at better than brick and mordor stores, then the choice will be clear to a majority. Everything changes through time, we once thought that pay phones would be around forever but now they are being taking down. As technology advances and people change according to it, the weaker or older ideas die off too. It maybe a losing battle for many retailers that don't offer more than the online retail stores. I used to think that customer service would keep people coming back into stores for a little Q&A with a knowlegable sales rep, but with cut wages of today--we rarely see them anymore.
- by SethBreedlove, Data Doctor
- 1/12/2014 2:44:03 AM
While online sales have increased dramatically, holiday sales as a whole have remained flat. I wonder if the most immediate benefit of analytics is to reduce costs and boost efficiency rather than sales.
- by Michael Steinhart, Blogger
- 1/9/2014 5:56:06 PM
That's a great point, kq4ym. It's possible that Family Dollar focuses more on inventory control where Nordstrom focuses on individually targeted promotions. But as Beth says, there are plenty of lessons and best practices that will benefit retailers of every stripe and tier. I'm looking forward to learning more next week.
- 1/9/2014 4:49:36 PM
I suppose you're right -- no cookie cutters to share among different type so retailers. Still, I'm betting each type of retailer can learn from the other in terms of the use of data and analytics operationally as well as in serving customers.
- by kq4ym, Data Doctor
- 1/9/2014 3:44:21 PM
It will be interesting to see the difference in outlooks for the stores like Family Dollar versus the more higher end retailers. I would guess their strategies must be vastly different in using analytics and matching their marketing and customer retention strategies, and how they see their own online sales as part of their new marketing plans.