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Infographic: Pressure to Personalize Retail
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Pressure to personalize retail
  • 1/26/2014 11:39:49 PM
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Analytics is useful to understand what stock is in clearance and how inventory is sold. Before older products or out of date clothing was just placed on clearance with no data to be had or learn from. Optimizing the retail outlet will put it ahead of the curve and help against people buying online and forgetting about the brick and mordor stores. 

Re: Depends on the season?
  • 1/23/2014 3:11:39 PM
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Tomsg, I completely agree that some or most of the stores decision makers need to be evangelized into the culture, and we as of lately are lacking in that effort.

Re: Depends on the season?
  • 1/23/2014 3:11:37 PM
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Tomsg, I completely agree that some or most of the stores decision makers need to be evangelized into the culture, and we as of lately are lacking in that effort.

Re: Depends on the season?
  • 1/23/2014 2:44:23 PM
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I agree, but budget pressure are a way of life for many of these stores. I think the real problem is that key decision makers do not really understand what can be done with the data and what results can really be achieved.

Re: Depends on the season?
  • 1/23/2014 2:36:50 PM
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Smaller stores feel compelled to implement some data driven programs but still view them as noncritical Investment and curtail them along with advertising during periods of austerity. That's a backward way of doing things in my opinion.

Re: Depends on the season?
  • 1/23/2014 2:23:01 PM
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I agree completely. I know some retailers who gather a lot of information and do very little and some who do a lot.

 

 

Re: Depends on the season?
  • 1/23/2014 1:59:03 PM
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@tomsg,

Analytics can be useful across all the retailing channel, but its efficiency all depends on how it is applied and executed within the organization. "Just simply having data will have no impact on your organization. You have to have a data strategy to use analytics effectively." - See more at: http://www.shoppinpal.com/biggest-challenges-for-retail-stores-in-the-digital-age/#sthash.w1IpN4hl.dpuf

Re: Technology data marriage
  • 1/23/2014 1:49:21 PM
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@rbaz;

Retailers are indeed facing tough challenges to keep up with competitions in this digital age. Shopping in-stores is decreasing and relailers do need to search for new ways to keep customers interested and improve their engagement. 

Re: Technology data marriage
  • 1/21/2014 11:08:28 PM
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The retail business is so competitive and carries a slim margin for error, so behavior analysis is a godsend technology that is or has become indispensable for survival in a fast changing and dynamic environment.

Technology data marriage
  • 1/21/2014 3:13:42 PM
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The shift in consumer behavior is well underway as demonstrated by the Infographics. Retailers however are still choosing to ignore data as demonstrated by some retailers eliminating loyalty programs, in the end the race will be won by those that leverage technology and data to create a competitive advantage.

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