Category Archives: Big Data In Retail

How The “Tech Titans” Use Mobile Technology To Be Bigger & Stronger In The Retail Competitive Market

My last post was 5 Must-Know Technology Trends That Will Drive Retail Business In 2013. Today’s piece, which was part of the original article about Technology Trends for 2013, in Retail Touchpoints, takes a look at how the “Tech Titans” – Amazon, Apple, eBay, Facebook and Google – have grown – using mobile technology – to eclipse retail competiton...
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5 Must-Know Technology Trends That Will Drive Retail Business In 2013: Comments By 14 Retail Execs

As the lines between traditional and digital channels continue to blur and the need for competitive intelligence and price monitoring software grows, Retail Touchpoints recently asked 14 key executives from leading solution-provider companies to share their insights on technology trends in 2013. Each executive was asked to answer the following que...
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12 Significant eCommerce Holiday Trends; Including Over $21B Spent Online So Far In 2012: ComScore

With one out of ten discretionary dollars now spent online, e-commerce is a critical component of the 2012 shopping season, says comScore Chairman and Co-founder Gian Fulgoni. In a news release dated December 5, 2012, comScore reported on holiday season retail e-commerce spending for the f...
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8 Ways Targeted Promotions Can Garner More Profit & Influence Buying Behavior This Holiday Season

How can retailers determine the best price-off deal to offer in the Holiday Season? How can retailers use competitor price monitoring to highlight their price advantages? How can retailers best use data-mining to target buyers? What’s more important, price or value? This holiday season retailers will spend billions and billions of dollars on promo...
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8 Unique Factors Of The 2012 Holiday Shopping Season Every Retailer Should Know About – Part 3

The previous posts in this series about 2012 Holiday Retail Shopping discussed consumer thought-processes and what consumers might buy; how important retailer attitude and confidence will be without capitulating to any media hints of doom and gloom; and to start the season with value, not discounts. I stressed the importance of price tracking and mon...
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How Retailers Are Using Smartphone Data & Social Analytics To Lure More Customers & Make More Profit

According to the infographic cited below: Online and web-based American retail sales will become over half of all sales by 2013; the Internet will influence 53% of all retail sales, both online and offline, by 2014; and this year, 167 million people will shop online spending an average of $1800 per person.  Utilizing data obtained from social medi...
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How Retailers Are Boosting Sales & Assortment Efficiency Using Predictive Analytics

With more technological ability than ever to track information and results across multiple channels, retailers have begun to crunch the reams of data available to them to “scientifically” predict and plan for the future shopping habits of customers. Call it predictive analytics… data mining… retail analytics… digital customization… new metrics… bi...
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How Using New Consumer Shopping Metrics Mean Bigger Sales & Profits For Retailers (Video)

In this Forbes Video Network, Intelligent Technology segment, “Tracking the customer’s behavior,” Dan Fishback of Demandtec (a research firm helping retailers define merchandising and marketing strategies based on scientific understanding of shopper behavior) talks about the “new metrics” of understanding how consumers shop across channels and cre...
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7 Reasons Why Trusting Your Gut Isn’t Enough When Doing Assortment Planning

In the Harvard Business Review Online Forum (The Future of Retail), Marshall Fisher, UPS Professor of Operations and Information Management at the Wharton School of the University of Pennsylvania, (researching with Ramnath Vaidyanathan of McGill University), discusses studying and analyzing hard data so retailers can improve revenues and profits. ...
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How Retailers Get You To Buy: Pricing & Product Strategies (Video)

What do retailers know from the information on your sales receipt? From the sales receipt alone, they know what was bought for what price at what time — and that’s enough for them to know what customers “need,” where to place certain  merchandise in the store, and what coupons to offer customers. (And if customers use a loyalty card, the informat...
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How Retailers Can Manage Their Internal Pricing Systems For Efficiency and Profit

Pricing done right can have a huge impact on a company’s profitability. This is, of course, a huge understatement. In the previous two parts of this series, Getting Pricing Right: The Enemy Within — 5 Ways Retailers Can Look Inside Themselves To Get Pricing And Profit Right, and 5 Ways Retailers Sabotage Their Own Pricing And Profit — we talked a...
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6 Ways To Use “Big Data” To Increase Operating Margins By 60% – Part 2

In my recent post, “Why Harnessing ‘Big Data’ Is The Next Big Thing in eCommerce (Part 1)”,  I talked about extraordinary opportunities coming with “Big Data” —  or “the drift toward data-driven discovery and decision-making,” as the New York Times calls it. In Part 1, I talked about the implications and insights of harnessing “Bi...
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Why Harnessing “Big Data” Is The Next Big Thing In eCommerce – Part 1

As programs, peripherals, apps, search engines, social media, censuses, smartphone chips, credit card purchase records, loyalty programs, competitive intelligence, business research, and you-name-it continue to capture, compile, spew, and store trillions of bytes of information about customers, suppliers, and operations, we find ourselves firmly in...
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