Category Archives: Retail Analytics

How Price Optimization Points The Way To Retail Success

Price optimization has fast become an essential tool for retail success and profit. In its briefest form, the magic formula for retail success is: “Price right, discount less, and manage your inventory for reality.” In longer form, retailers’ use of price optimization solutions employs science to harness big data and turn it into profitable insi...
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How Retailers Are Using Price Optimization Solutions To Increase Profits

Retailers (finally) are realizing that the driver of their profit is price optimization. In short, using science to price right and reduce the compulsion to discount. A recent Bloomberg article showed both Ralph Lauren and Michael Kors reporting headway in profits — by offering fewer markdowns, executing better management of their inventory, and...
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Back To The Future With Predictive Analytics

Here’s a guest article by ecommerce entrepreneur Patrick Foster.     Patrick writes: Big Data can be, and usually is… unstructured, unwieldy, and overwhelming. The secret to success with big data is knowing that it’s quality, not quantity, that counts. Some companies are swamped and stymied by big data, while those who zero in on the RIGHT da...
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Why Predictive Analytics Have Become Essential Technology For Retail Profit

Predictive analytics have quickly become an essential technology solution that retailers are eagerly adopting to compete and survive in today’s marketplace. Predictive analytics solutions let retailers use science to analyze Big Data… using patterns found in historical and transactional data to uncover actionable insights and opportunities, to ...
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Ten Top Retail Trends For 2017

trends-2017-on-computer-150Retailers have a pretty good idea which trends need addressing in the coming year — and beyond. They’re well aware that the retail (r)evolution includes all-encompassing categories such as consumer trends, seamless omnichannel strategies, the increasing inter-dependability of retail and technology, mobile (and mobile device) usage, big data anal...
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How Today’s Retailers Are Striving To Provide Unique Customer Experiences

If data analytics and price optimization are major drivers at the back end of today’s Retail business, the biggest challenge on the front end is to woo customers through the adroit use of socials — and then win them over with unique customer experiences in the store. Here are just a few recent headlines that show the extent to which retailers rec...
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How Retailers Are Making Profitable Pricing Decisions Using Price Optimization Software

In today’s transparent, always-on, highly competitive marketplace, savvy retailers are quickly adopting “the best technology so far” to compete strongly in the pricing arena. Price optimization software melds big data, science, and historical information to help retailers price millions of SKUs, product-by-product, in the most accurate, timely, an...
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Why Retailers Should Outsource Their Analytics

As predictive analytics and price optimization take their rightful place in the science of pricing, more and more retailers are asking: Is it better to perform my analytics in-house or use outside vendors who are experts in providing this service?

In a recent RetailWire discussion (Do retail marketers have an appetite for data science?) BrainTrust ...
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Underpricing & Overpromoting Are Some of the Retail Mistakes Revealed by 2016 RSR Benchmark Pricing Study

For the past few years, RSR (Retail Systems Research) has noted and chided retailers for being slow to adapt to modern market and pricing demands, believing they could win the race by low, lower, and lowest prices, or thinking that just participating in the race (i.e. competing on low price), would keep them in the game. This year’s RSR Benchmark ...
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Retail Technology Trends For 2016

It won’t come as a surprise that tomorrow’s retail world is already here! Catalytic forces at play include accelerated digital technology use, wider acceptance of cloud capabilities, the explosion of mobile commerce, and more.  All aimed, of course, at serving the multi-connected, multi-channel, multi-available consumer.  And, when all is s...
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How Retailers Are Pricing For Profit No Matter The Season

EPSON scanner image“Bah humbug”, said Ebenezer Scrooge — until he was shown vignettes of his Christmas past, present, and future (in Charles Dickens’ novel, A Christmas Carol). This year, it seems that retailers, with the use of predictive analytics, are finally taking a good look at their Christmas past, present, and future — with regard to when it’s appropriate ...
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How Retailers Are Using Best Practices This Holiday Season To Maximize Data Outcomes & Optimize Revenues

As Holiday Season 2015 arrives, retail challenges include stronger consumer economic confidence; customers shopping earlier; shoppers being “brand agnostic”; shoppers using mobile more extensively; and shoppers expecting seamless experiences paired with high quality service. Proper use of Big Data and Best Practices to address these challenges, maxim...
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Trend To More Sophisticated Product Management By High Fashion Retailers?

Chart 150 DiscountedProductsPostHolidayFor the past two weeks we’ve been writing about possible retail strategy trends for the 2015 Holidays based on data analysis performed by Upstream Commerce that suggests both the number of discounted products and the depth of price promotions in the holiday season diminished over the past two holiday seasons. (Analysis was based on data on seven to...
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