Category Archives: Retail Analytics

4 Simple Data Strategies To Capture The Profitable Multi-Channel Shopper

One of the major trends overtaking retail is multi-channel marketing, which involves the need for retailers to consolidate the customer shopping experience across all channels with seamlessness and consistency. Because of the ever-increasing ways for customers to share information with both their peers and retailers, the consumer knows what they wa...
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Retailers Who Raise Prices Will Lose Volume: True or False?

Some interesting retail pricing myths: Price is the most important factor for your customers, Right? If retailers lower prices, they will make it up in volume, Right? The market sets the price, retailers sell to the market, Right? “Everyone has perspectives about pricing” writes Scott Francis of Strategic Pricing Solutions. Scott bases his reaction...
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10 Retail Profit Principles Found Between The (Checkout) Lines

Since the most important bottom line for any retailer is to figure out where to make or save the most money, I like to look between the lines of articles to find profit principles lying under the surface. For example, in this recent blog-post by retail technology specialist, Tim Dickey, on the pros and cons of self-checkout, I found many general pr...
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Why Retailers & Customers Should Worry About Personalization: Part 1

I couldn’t wait to show you this week’s Marketoon by Tom Fishburne. Not only because it’s funny, but also because it’s scary. As you know, the groundswell is for personalization, another competitive retail activity for targeting customers, but for a long time I’ve pondered the downsides of personalization, i.e. the potential for careless or indisc...
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10 Major Benefits Of Using Retail Analytics For Personalized Marketing Content

Using retail analytics, personalized marketing is based on retailers getting the right information to the right people at the right time — whether that information is email content, a new offer, or an interesting blog post.  According to a recent Hubspot article by Corey Eridon, more than 60% of sho...
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5 Ways Retailers Can Use Analytics For Home Run Products & Competitive Pricing

It’s every retailer’s dream to know what is going to sell best, the best, most competitive prices to charge, and how to stock the most productive inventory. Certainly, to know what the consumer wants, forecast future sales and trends, and more. With the intelligent use of technology (including Competitive Pricing and Assortment Solutions), retaile...
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Global BI Software Revenue To Reach $13.8B In 2013 (Gartner): What’s This Mean For Retail PI & Analytics?

Worldwide Business Intelligence software revenue is expected to reach $13.8 billion in 2013, a 7 percent increase from 2012, with a market forecast to reach $17.1 billion by 2016, according to Gartner analysts.  Business Intelligence is important because it helps develop knowledge on which to make better decisions; helps retailers move from colle...
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Where’s Big Data Headed Re Competitive Retail Intelligence? (Infographic)

Is big data questionable? I don’t mean should we question (the existence of) big data, but where do retailers want to go with it, and where is it taking us — especially as a competitive pricing and assortment intelligence tool? In May 2011, McKinsey Global Institute studied Big Data and wrote the article: “Big Data: The next frontier for innovation...
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Decisionmakers Cite 9 Key Reasons Business Intelligence & Analytics Critical To Operations

Every day, there are more and more-sophisticated business intelligence and analytics tools available to optimize pricing for thousands of products, help spot possibilities to reduce prices and increase sales, analyze data, determine ideal product mix, and increase overall profitability. And the competition grows more keen with every moment. In Nov...
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