Cybersecurity Is Not Just For Payments

VP SAS head shotOver the last year, payment card security — or actually, the lack of payment card security — has been one of the top discussions among retailers and consumers. New payment technologies are coming forward such as Apple Pay and Point-to-Point encryption, but will those new payment technologies do the trick?

A recent study by ACI Worldwide and Aite Group titled, Global Consumers: Concerned And Willing To Engage In The Battle Against Fraud,  found retailers have little consumer trust when it comes to data security. Only 55% of survey respondents said they think the stores they frequent deploy security systems to prevent data breaches. And nearly one third of respondents (29%) said they don’t trust retailers to protect their personal and financial data from criminals.


27% Of Holiday Shoppers Will Visit Retail Stores On Thanksgiving Day

Brick-and-mortar stores such as Walmart, Kmart, Target, Best Buy and Sears are opening their doors to the public on Thanksgiving Day, and consumers appear to be taking advantage of this recent trend. More than one fourth (27%) of people shopping during Thanksgiving weekend say they will shop at stores open on Thanksgiving Day, according to the SAS Holiday Shopping Styles Report.

The survey of more than 2,000 holiday consumers revealed that 40% of respondents will shop at retail locations on Black Friday, with an additional 14% still on the fence. The number increases for online purchases, with almost half (49%) of consumers saying they will shop online on Black Friday and 53% planning to shop online on Cyber Monday. In total, 57% say their primary shopping will take place in the store, while 42% will make the majority of their purchases online.


Only 16% Of Organizations Say They Have Highly Effective Loyalty Programs

Customer loyaltyOnly 16% of businesses believe they have a highly effective loyalty program, according to a recent survey conducted by the International Institute for Analytics (IIA) and commissioned by SAS.

More than half (56%) of respondents said they use a customer retention rate metric to measure loyalty program success, while 27% calculate customer lifetime value. Only 54% of organizations said they could calculate the revenue impact of their customer loyalty programs.


DSW Uses Size Optimization To Help Merchandise New Store Mixture

DSW8With 400 stores and growing, DSW is constantly challenged with providing the right selection of shoes for every shopper. Adding a series of smaller format stores to the mix has heightened the challenge.

“These [smaller format] stores are 8,000 to 12,000 square feet so the precision of the assortment has to be right,” said Linda Canada, SVP of Planning and Allocation of the shoe retailer. A typical DSW store is approximately 20,000 square feet, she explained.


3 Building Blocks Of Optimized Price & Promotion Strategies

Shadow_SAS_Ebook_PricingAs many as 76% of retailers are continuing to increase the number of pricing changes sent to stores. To deliver effective pricing and promotion strategies, retailers need to access the abilities of Visual Analytics.

This E-book, titled: 3 Building Blocks Of Optimized Price & Promotion Strategies, will help retailers more effectively collect and analyze customer data in order to execute better pricing and promotional programs.


The Art Of Knowing The Customer

SAS_E-Book_drop_shadow_250pxBrooks Brothers reduced inventory by 27% and Macy’s has saved $500,000 in labor costs. Those are just two examples of retailers using high performance customer intelligence and analytics in order to drive superior business performance.

This E-book offers 8 ways retailers can get to know their customers better, while creating business efficiencies. Customer case studies illustrate best strategies from 1800FLOWERS, Family Dollar, Sobey’s and more.


Leveraging Retail Analytics To Make Better Marketing Decisions

This is Part 1 of the Retail TouchPoints Retail Analytics feature, spotlighting how retailers can make better marketing decisions by using retail analytics. The two-part report also highlights current trends and challenges retailers are facing while collecting and analyzing customer data across digital and physical channels. Part 2 of the Retail Analytics feature will appear in the October 23 newsletter.

analytics_image_dark_v2Today’s consumers are more hyper-connected and educated than ever before, causing retailers to scramble to deliver optimal marketing messages and offers based on the unique wants and needs of every shopper.

Merchants are struggling to implement cross-channel marketing campaigns that match customer demographics and psychographics ― largely because they are in the early stages of conquering Big Data. The sheer amount of customer information retailers must collect continues to rise as the amount of unstructured data collected via social networks and mobile increases exponentially.


All Retailers Can Succeed In The Tech Titan Era

GoogleFacebookFight_2Just a few years ago, Amazon only sold books, Apple sold computers, eBay connected buyers and sellers of used goods, Facebook didn’t exist, and Google was a search engine. Today these five Tech Titans ― with a combined market cap of more than one trillion dollars as of mid-August 2012 (see chart below) ― are competing head-to-head for the same customers and, in the process, are fueling thousands of new companies. As they continue to reshape the retail landscape, it’s no longer business as usual even for the industry’s most influential merchants.

Cognizant of this major inflection point, solution providers are developing powerful technology suites that can help all types of merchants compete more effectively in this new era of the tech titans.

A webinar conducted during August 2012, titled:  Retailing in the Tech Titans Era: What's Next from Amazon, Apple, eBay, Facebook, and Google,explored the influence of today’s tech titans on the retail arena. The session ― conducted by Lori Schafer, Executive Adviser for SAS Institute’s Retail Practice, and hosted by SkuLoop, a retail systems supplier ― looked at the growth strategies within the five companies, and how retailers can and are competing.


Improving Business Performance With Customer Insights

High Performance Retail:  The Art of Understanding the Customer

10-4_v2_calendar_templateWith more than 45% of all customers accessing product information via web sites, mobile devices and social channels before ever entering a store, the role of the merchant must continue to evolve.

More than ever before, merchants must strive to reach shoppers on a personal level and customize the shopping experience within all shopping channels. Today’s high performance retailing solutions provide critical answers that will guide retailers towards profitable encounters with each shopper.

Subscribe to this RSS feed