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Analytics for Omnichannel Success
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Thank you Brian - happy holidays to you as well!

Blogger

Thanks for the great show, Paula, Brian, and Jessica!

Blogger

Cheers, everyone!

Prospector

Thanks Paula - happy holidays to you too!

Blogger

Thanks @Paul and @Brian!

Data Doctor

@Brian I fell for that myself this past Sunday, picing up some cosmetics for my daughter while waiting to check out b/c they were BOGo 50% off.

Data Doctor

I want to thank Paula and Brian for being so generous with their time today! They need to go now, but thanks for all the questions!

Blogger

Hey all, this has been great, but I've got to run.  I wish you all a GREAT holiday season!

Prospector

Zimana, I also think the generational shift in the retail enterprise (which mirrors the generational shift in the customer) will help improve adoption.

Prospector

Ariella - yes, that's an old trick;  the merchandising areas near the checkput lanes are often the most profitable square footage in the store.  

 

Prospector

Zimana, in my opinion, we're running out of time.  Certainly retailers have to be careful to keep to what the user community can absorb, but we are very,very late.

Prospector

@Brian It's important to do that. I have more than once abandoned my cart or not even bothered to shop when the lines looked too long. I have to really, really want something to be willing to wait on line for it.

Data Doctor

Paula, you made an excellent point about overinvesting in tech for retail - is there an opportunity for retailers to stagger that investment or is the current lag so great that piecemeal efforts become unbeneficial?

Blogger

@Jessica, Some do this "occasionally" and others do it as a matter of course when creating the POs.

Prospector

@Brian, generally there are a lot of little things put near checkout. This time of year, you could call some of them stocking stuffers. You're not likely to pick up a big ticket item just on impulse, but something in the $5 -$20 range that could be  a gift, you would.

Data Doctor

Ariella - many retailers use some form of video analytics to look for quesues forming in checkout areas, for example to open up new lanes, etc.

 

Prospector

Yes, Jessica there are several vendors who are using analytics to determine the best pre-pack sizes based on what sells.  And to adjust even after the first buy for replenishment purposes.

Prospector

Hey Paula, sorry to nudge in here, but in terms of apparel, I'm wondering if you know of any retailers who are using analytics to do a better job of stocking the right sizes of clothing? Is there any optimization going on with this now, or is it coming anytime soon?

 

Blogger

@Paula, yes, though I mean if they track the data, they know patterns and can already predict that there will be greater volume at certain times and then be sure to have enough staff on hand to prevent the lines from getting too long. 

Data Doctor

Joe- (re. IoT for efficiency)  - you will find that some retailers are using "heat map analyses" to determine the best places to put promo items.  That's just one example about how IoT data can be used for practical purposes.

 

Prospector

That's part of it, yes.

 

Prospector

@Paula, ah for that? I've always thought these things were just for security. That's good to know!

Data Doctor

Having said that, @Ariella, the use case for cameras to sense long lines has been around for some years

Prospector

I agree. Ariella.  I'm not sure if you've noticed, but a lot of big box stores have mirrored offices above the check-out area.  That's what's behind the mirror, someone who is supposed to watch!

Prospector

Yes, that's true.  We talk a lot about several important elements to the shopping experience:

Content, Context, Commerce and of course, the Customer

 

Prospector

@Paula One thing they can do then is make sure to have more cashiers on hand at busier times. Some stores do that in a low tech way -- just looking around to see when lines get long -- but it's better to be proactive about it.

Data Doctor

One thing I notice about my own shopping habits, I have gotten so used to shopping online that I lose patience with shopping in stores. It takes too long to get from place to place, and there is not enough information about the products available -- unles syou do use your phone to look things up. On my recent Target expedition, I was looking for toothpaste (which I usually end up buying at my local CVS, but I was there, so I thought I'd give it a whirl). But I gave up b/c the Crest boxes there were not clealry labeled to identify which were pastes (preferred in my family) and which were gels (which many will refuse to use). And there's really no reason not to have that info on the box. Now when ordering online, I usually can find out what I want to about a product just by clicking, which makes me a lot less tolerant of not having access to that info in the physical world.

Data Doctor

Hi Joe.....I think some of these use cases are still a little pre-mature.  The main thing we're looking at is locating merchandise to make omnichannel operations more efficient

 

Prospector

Question: Are a lot of retailers looking at IoT at this point to make their brick-and-mortar operations more efficient? If so, how? (Customer traffic flow, optimal location of items, etc.)

Blogger

Thanks for joining, Paula!

Blogger

Hi...Paula here.  Any questions?

Prospector

I agree Ariella; a good vendor has to explain the value of his or her work.

Blogger

Good point: never discount your own sense of things.

Data Doctor

Well, to be fair, AI... or additional if-then statements in the code? ;)

Blogger

AI really seems to me to the term of the year -- supplanting Big Data.

Data Doctor

@Joe I haven't tried it, but I can imagine!

Data Doctor

Ever have to carry armloads of groceries on a subway? Not fun.

Blogger

@Joe yes, especially around stores with no parking lot. Here we have parking, but in most places it's not free.

Data Doctor

 After-market sensors sound like a data-privacy nightmare waiting to happen, depending upon deployment/use.

Blogger

@Ariella: The car is a big deal. In the city, it's just not practical to do in-person grocery shopping sometimes.

Blogger

@Joe yes, you can do that with NFC

Data Doctor

@Joe but many people still go into these stores to pick out their stuff. They just pay for the grocery deliver because they want to save time or hassle or are coming in to shop without a car.

Data Doctor

Starbucks is apparently using IoT to determine if an item is optimally placed based upon how many people pick up the item and then put it back down without buying it. They then send in a crew in the wee hours of the morning the next day before opening to change the merchandise layout.

Blogger

@Joe some stores handle it well. A lot of people in my neighborhood get deliveries from the local supermarkets. They carefully label boxes with eggs and the like.

Data Doctor

Which is the other thing. The shipper's idea of QC is different from my idea of QC.

Blogger

@Ariella: Yeah, I've tried having perishables delivered by various companies -- with mixed (usually quite poor) results. I can't count the number of food items I've had to throw out that wouldn't have been an issue had I bought them "normally".

Blogger

And do more than just add digital - make the digital integral to the store experience. I wrote about Burberry years ago that did that. Mainly high-end store did this first.

Blogger

@Joe yes, and to pick up perishables -- even if you do get dry groceries like cereal delivered.

Data Doctor

I actually wish retailers would stop trying to entertain me. Their music selections are usually bad and too loud. Their "entertaining" layouts are inefficient. Just make clear what aisle the toilet paper is in, please.

Blogger

I am not sure real estate should be criticised. I agree store is a key channel - BOPIS/BORIS proves it.  The retailers who have done well invested in their floor space. Sears, for example, just acquired. Physical scale is not necessarily an investment. 

Blogger

At the end of the day, people still need to go to a brick-and-mortar to run some basic errands or actually see/feel merchandise. And people are still going to quickly knock off an errand while they're out anyway.

Blogger

Ah but where Warby Parker has the stores, they don't extend their free shipping policy -- even if the store is not all that close!

Data Doctor

REI is notable, and has done well in the midst of a growing sports and outdoor market. There has been a big closure, Sports Authority, in the sports and outdoor market. 

Blogger

@Joe or maybe the subscription orders in general. It may harken back to the idea of the book-of-the-month club

Data Doctor

@Ariella: Yeah, in the long run, it's still a gain for the retailer I tend to think.

Blogger

@Joe, I have a shipping store just a block away. It does a lot of business taking the boxes to UPS, FedEx, or mail back to Zappos, Amazon, etc.

Data Doctor

@Ariella: Meanwhile, there are brands that expressly rely on people being reluctant to ship things back. This is the very basis of the fashion-subscription model.

Blogger

@Joe true, and another thing that figures in is how the stores handle the returns from online orders. I have noticed that some, like Target, Bed Bath and Beyond, put those items in their clearance section. That's something that would vary by location, of course.

Data Doctor

@Ariella: I see a lot of brands doing as good a job as they can of making it as easy as possible to return something -- but it still fundamentally involves packing stuff up, following instructions, and going to the mailbox (if not post office!).

Blogger

@Ariella: That's not atypical. Sometimes there are locational sales, too, because of particularized inventory issues.

Blogger

@Joe that may be why some brands make it such a pain to return things. But they do risk losing the customers who won't buy from a store that makes it difficult to return, particularly for things like clothes and shoes that have to be tried on for fit.

Data Doctor

@Joe well, that sort of fits with certain differentials in pricing one sees even in stores at different locations. Unless the prices actually changed on the wholesale level, the Target in one area of LI charges quite a bit more for milk than the one in another part of LI. I noticed that when I went to a further away location this weekend.

Data Doctor

Yeah, but it's still more efficient because you're attracting more customers by having the online purchase option to begin with. Plus, many customers never return the item even though they don't like it or it doesn't fit because of the complexities/pain in the butt of mailing it back.

Blogger

@Ariella: Of course, browser cookies and the like will impact prices you see online.

Blogger

@Joe yes, sometimes even a single brand name will have different prices for something in-store  and on the website.  Target, for example, used to have some things cheaper on its site or made certain offers there, but I think that it's gotten that more uniform of late. But some work a higher price in online to cover the "free" shipping they offer

Data Doctor

The funny thing is, I was recently speaking with a cybersecurity exec who posited that retailers care more about infosec and data privacy than the highly regulated businesses because they have more competition.

Blogger

@Ariella: I still do it without the app. I've taken things out of my shopping cart once I saw how much less I could get them for online.

(Conversely, I've also bought in store specifically because it was a good deal compared to online deals.)

Blogger

We're talking about retail trends with Paula Rosenblum and Brian Kilcourse of RSR Research. 

Blogger

@Joe that's popular among many shoppers

Data Doctor

We have transformed from showrooming to BOPIS/BORIS. But it also took a few Xmas retail seasons for digital overlay to take hold.

Blogger

I can speak to that shopper empowerment. I used to have an app on an old phone that allowed me to easily comparison shop in the store.

Blogger

A lot has changed, but I tend to think that Amazon is not as apocalyptic a threat to big-box brick-and-mortars as the pundits would have us think.

Blogger

great to be here!

Data Doctor

Looking forward to today's session! 

 

Prospector

Hi, guys. looking forward to it today.

Blogger

Hey Jill and Predictable

 

Blogger

Should be a good one! 

 

Prospector
I'm signed up and looking forward to it. PC
Data Doctor


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