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Business Intelligence / Data / Analytics

In order to be successful in today’s omnichannel retail marketplace, merchants must collect information from numerous internal and external sources, then analyze that data. New solutions can help to optimize incoming data in order to deliver the business intelligence and analytics needed to move retail businesses successfully into the future. This section offers feature articles, special reports, industry viewpoints and the latest news to help retailers make sense out of the growing influx of information.

Mastering The Data-Driven Customer Experience

AVP TimeTrade ImageDelivering superior customer service has been a focus for retailers since the dawn of modern shopping. We’ve all heard the phrase, “the customer is always right,” an indicator of the importance retailers put on delivering an excellent shopping experience. After all, a happy customer means a loyal customer, which in turn, means more sales.

That said, what constitutes a great shopping experience has dramatically changed over the years. With the rise of e-Commerce, more and more consumers are researching their purchases at home before they ever visit a store. The ability to investigate and compare products from the comfort of your home — or even from a mobile device — minimizes time spent visiting stores and gives consumers the freedom to browse at their convenience.

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SmarterHQ Helps Retailers Understand Customer Relationships

ASO SmarterHQ ImageBecause consumers interact with numerous retail channels at different times, retailers must acquire detailed data about these shopping journeys and share key takeaways across the entire enterprise.

SmarterHQ is a multichannel behavioral marketing platform designed to help retailers better understand the relationship consumers have with their brand. By tracking data and measuring engagement across all channels, retailers can create personalized experiences for individual customers.

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Tyco Retail Solutions Acquires FootFall For $60 Million

acquisition Tyco-FootFall
Tyco Retail Solutions
, the retail performance and security business of Tyco, has acquired FootFall from Experian for $60 million in cash.

Based in the UK, FootFall provides end-to-end technology, services and analytics solutions to help retailers collect, measure and analyze customer traffic. Currently, FootFall manages 50,000 devices installed in up to 13,000 locations. These devices capture more than 15 billion shopper visits across 11 markets in the U.S., Europe and Asia Pacific.

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The Merchant In The Machine

VP site only Predictix headshotThe retail trade has been around for thousands of years. For most of that time, local merchants brought in products to meet the needs and wants of their town’s population.

The face of retail has changed unrecognizably since those days, for better and worse.  Consumers have more choices than ever before, and a shopping experience their forebears would marvel at. But something precious has been lost in the process. With so many locations, so many options, and so many factors affecting consumer preferences and demand, today’s merchants are simply overwhelmed. Retailers all too often miss the mark, as evidenced by unacceptably high levels of out-of-stocks, markdowns, abandoned shopping carts and many other disconnects between retailers and their customers.

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WalmartLabs Rolls Out New Product Content Collection System

walmartlabs1Walmart is testing a new program designed to help suppliers send their catalogs directly to the retailer, according to a WalmartLabs blog post.

For the pilot program, called the Product Content Collect System (PCCS), Walmart will provide a framework for sharing catalog data based on a specification, including a list of attributes, requirement levels and data transfer protocols. By collecting this catalog data, Walmart aims to share accurate, comprehensive product information with customers to further improve the shopping experience. Additionally, having the full product catalog allows Walmart to build and launch products if and when the retailer decides to sell them, according to the post.

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Mobile Ads Drive Twice The Sales Of Desktop Ad Campaigns

mobileadvertisingMobile has become a massive part of the average consumer’s everyday life, and as such, retailers have to adjust their experience to the medium. In particular, marketers and advertisers alike must further study the technology to better understand how they should appropriately allocate their budget.

An effective mobile campaign can be a lucrative option for companies that focus on the medium. In fact, mobile advertising generates more than double the sales of its desktop counterparts, according to a report from 4INFO and Catalina. Total sales per 1,000 impressions reaches $29.90 for the average mobile advertising campaign, compared to $13.10 for desktop campaigns.

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Sales Down, But Sales Per Shopper Up For Physical Stores

instoretrafficThe spring season has been one of mixed emotions for brick-and-mortar retailers. Merchants boosted year-over-year average transaction value (ATV) and sales per shopper (SPS), but lost sales and traffic numbers in March and April 2015.

In the two month span, sales and traffic rates respectively fell 5.2% and 9.4%, according to the Retail Performance Pulse from RetailNext. At the same time, ATV jumped 2.5%, SPS leapt 4.7% and conversion rates increased 0.7%.

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Oracle Solutions Help IT Departments Adapt To Industry Trends

SS Oracle ImageIT departments are tasked with the challenge of adapting to new technology and shopping trends. Although they need to constantly embrace new solutions and business capabilities, they also need to maintain existing systems.  

Oracle has unveiled a series of Oracle Retail Cloud Services to help merchants make consistent upgrades to their internal operations, while enabling internal IT departments to focus on differentiating the customer experience and driving growth.

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The Children’s Place Adopts Quantum Analytics For Size And Pack

ChildrensPlaceThe Children’s Place, a specialty retailer of children’s apparel and accessories, has selected Q Analytics for Size and Pack Optimization from Quantum Retail Technology. This is the third Quantum solution the Children’s Place has scheduled to implement, including Q for Allocation and Replenishment and Q for Order Planning.

Q Analytics for Size and Pack is designed to calculate size profiles by item based on customer demand. The system then computes the optimal store pack configuration of merchandise to help align the buying quantity and pack distribution with projected store need.

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GoSpotCheck Streamlines Field Audit And Survey Execution

SS GoSpotCheck ImageDuring their scheduled audit routine, sales reps and merchandisers often must gather data around specific products, inventory levels and pricing. This data, whether tracked through spreadsheets, paper forms or photos, can be difficult to analyze once it is sent back to management.

Mobile data collection software from GoSpotCheck enables brands to streamline their sales and merchandising team’s surveys, audits and reports. Retailers can provide the GoSpotCheck mobile app to their sales teams to get real-time information on merchandising, product line performance and competitive research.

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Only 6% Of Marketers Have Captured A Single View Of Customers

RR Signal ImageOnly 6% of marketers say they have attained a single view of customers to support their cross-channel marketing goals, according to a study from Signal. However, 90% of marketers understand that achieving a single view across all touch points and devices is important or essential to reaching these goals.

Signal conducted an online survey between January and March 2015 to garner insights from 171 marketing professionals in the U.S., Canada, Europe, Latin America, Asia and the Middle East. Marketers in the retail and consumer durables industry represented 24% of the respondents — the highest of any other industry. One third of survey respondents said they integrate multiple purchased solutions in-house to capture a single customer view, while the same amount of respondents said they use a combination of in-house and external solutions.

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Advance Auto Parts Selects Teradata For Analytics Optimization

Advance Auto PartsAdvance Auto Parts, an automotive aftermarket parts provider, has selected Teradata as its Enterprise Data Warehouse (EDW) provider. Leveraging EDW, Advance Auto Parts will be equipped to aggregate data from multiple sources in order to perform advanced analytics and boost business results.

The Teradata platform at Advance Auto Parts includes testing as well as production and will leverage the Teradata Americas Data Migration Center of Expertise. The Teradata team worked collaboratively with Advance Auto Parts to develop the benchmark environment.

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ShopperTrak Taps Former Ericsson Exec For CTO Position

Adan PopeShopperTrak, a provider of consumer behavior insights and location-based analytics, has appointed Adan K. Pope as its Chief Technology Officer (CTO).

Prior to joining ShopperTrak, Pope served as VP of Technology and CTO for the Business Unit Support Solutions at Ericsson. During his tenure at Ericsson, Pope was responsible for leading the overall vision and strategy of the unit.

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