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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.

Data-Driven Personalization Serves 1.2 Million Loyal Fabletics Customers

Many retailers talk a good game when it comes to personalizing interactions with each customer, but Fabletics really walks the walk. The brand is gathering extensive customer data from the 1.2 million members of its continuity-based subscription retailing program; Fabletics supplements this data collection with sophisticated in-store technologies that build comprehensive customer profiles in near real-time. But Fabletics also uses that data, in ways large and small. This continuous feedback loop gives the retailer a competitive edge in a number of key areas, including:

From The Store To Your Door: How Location Analytics Enable Home Delivery

The modern consumer's expectations of retailer performance and service continue to increase exponentially as more and more businesses undergo the inevitable digital transformation toward being completely connected with their customers. Almost every consumer today has access to a smartphone, a tablet device, or — at the very least — the Internet, and this affords them the ability to interface with the businesses they purchase from, on their own terms. Individuals can search for, compare and purchase merchandise without leaving home, but they can also use these capabilities to enhance their in-store experiences. People can check the location of a department store for an in-stock item simply by checking their cell phones.

Infinite Peripherals Releases InfineaIQ For Mobile Peripheral Management

Infinite Peripherals has introduced InfineaIQ, an enterprise-grade Mobile Peripheral Management (MPM) software solution designed to increase efficiency for retail and logistics businesses. The cloud-based solution was created to help enable the management of large enterprise deployments of peripheral devices, delivering end-to-end visibility into supply and delivery processes. Users can centrally track assets such as barcode readers, mobile printers and mobile payment terminals.

Diane Von Furstenberg Implements Mobile POS Globally

Luxury fashion brand Diane von Furstenberg (DVF) is rolling out mobile-first point-of-sale and a clienteling solution that will give store associates the data they need to make more accurate predictive product recommendations. The retailer, with stores in more than 55 countries, is extending its use of the Salesforce Commerce Cloud…
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How Channel Managers Can Use Analytics To Accelerate Digital

Digitally empowered consumers are causing a massive channel shift for manufacturers, leading to digital quickly becoming a strategic priority for channel managers. However, there is still a lack of data-driven decisions to make the most of this opportunity.  Data and analytics have delivered clear actionable opportunities to help enable growth. Here are three actionable insights from a digital landscape analysis across e-Commerce channels:

5 Reasons Your Personalization Strategy Isn’t Working

Modern customers expect timely and relevant experiences. Unfortunately, most organizations are still unable to deliver them. Despite investments in personalization technology and the availability of more data sources, companies are still falling short. Retailers must recognize their current personalization efforts are creating an ever-widening gap between them and their customers. To create experiences that truly delight customers and boost conversions and revenue, brands must use all the data available to them, create consistency across touch points, live “in the moment” with customers, ditch overly broad segmentation models, and most importantly start listening to their customers. Let’s take a closer look at each of these five reasons why your personalization strategy is falling short of both your and your customers’ expectations.

RIC17: CIOs Must Move Beyond ‘Us Vs. Them’ During IT Transformation

Traditionally the Chief Information Officer has been charged with understanding and deploying IT and technology strategies across the retail enterprise. But the increasingly digital world has made technology a priority — and a challenge — for the entire organization. The CIO’s new responsibilities include battling an “us vs. them” mentality that still persists between IT and the rest of the organization. Leading a panel discussion at the 2017 Retail Innovation Conference, held May 8-10 in New York City, Martha Heller, President of executive search firm Heller Search Associates, said retailers must evolve past such a mindset.

RIC17 Keynote: Winning With Pages From Amazon’s Playbook

Amazon has been the success story in the retail industry for quite a while now (and also the cause of many sleepless nights among its competitors). But according to New York Times best-selling author Bryan Eisenberg, any retailer — even a lemonade stand — can adapt Amazon’s Four Pillars to its own business model. That was Eisenberg’s message during his keynote presentation at the 2017 Retail TouchPoints Retail Innovation Conference, held May 9-10 at the Apella in New York City. The Four Pillars — customer centricity, continuous optimization, a culture of innovation and corporate agility — are not kept in a secret vault: “They are shared by Amazon recruiters,” said Eisenberg. In his presentation, he provided practical advice for how brands can make the Four Pillars work for them.

Finding True Customer Centricity

For decades, retailers have held fast and true to the marketing mantra, looking for a 360-degree view of the customer. The rise of e-Commerce and the big data that it produced created a world of promise for an all-knowing view of the customer that could be combined with relevant CRM information. Data such as: Geographics: Where she lives, works, and shops Demographics: Her age, income, and family size Psychographics: Her goals, rationale, and concerns in shopping

Amazon Plays Hardball: Outscores Sporting Goods Growth Rate By 4X In 2016

Amazon accounted for less than 5% of all U.S. outdoor and sporting goods sales in 2016 — $5.5 billion out of a total market of $120 billion. But with a growth rate that is four times the 5% achieved by the industry as a whole, Amazon is likely to rack up bigger numbers on the scoreboard before long. These stats have brought Nathan Rigby, VP of Sales and Marketing at One Click Retail, to one conclusion: brands must build a working relationship with the e-Commerce giant. In fact, he believes that modern outdoor and sporting goods brands that don’t have a data-driven Amazon strategy in place will underperform or go bankrupt within the next five years.

Journelle Centralizes Inventory Management, Customer Data

Less than six months after being acquired by Oracle, NetSuite — now officially the Oracle NetSuite Business Unit —  hosted its first SuiteWorld 17 under new management, April 24-27 in Las Vegas. But despite the acquisition, retail clients should expect to see minimal operational changes. Services, customer support and development will be maintained within the NetSuite business unit. Lyn Lewis, CEO of lingerie retailer Journelle and one of many retail executives who spoke at the event, shared her company’s experiences with the NetSuite platform. Lewis noted that physical retailing is still important for the brand as shoppers try on a new product, but she understands that with only four brick-and-mortar locations, e-Commerce will remain Journelle’s primary revenue generator.

On The Back Of Email's Lackluster Performance, 3 ‘Must-Haves’ For Great Email Campaigns

Retail TouchPoints' 2016 report on the state of email marketing indicates that the majority of retailers do not meet their desired results with email communication and marketing. The reasons: Underutilization of triggered emails, inconsistency of relevant information, and sub-par data collection. Only 5% of consumers cite nearly all retail emails as relevant, timely and compelling. One in four say they're rarely ever relevant. And 17% of retailers don't use data at all in order to personalize marketing emails. So why aren’t marketers doing more to ensure their content is appropriate and relevant to their consumers? With the potential of 258 million email users by 2020, marketers have a huge fight ahead of them to stand out from all the noise. Here are three key “must-haves” for a successful retail-driven email program.

Revuze Leverages Machine Learning To Analyze Customer Sentiment

Revuze is an AI solution designed to deliver data-driven insights into customer sentiment and enable retailers to create an agile response to market demands. By combining neural networks and machine learning, the engine trains itself to understand text on any product or service and relevant attributes to deliver immediate, in-depth, ongoing feedback to companies about how their products and services are bought and experienced.

RIC 2017 Preview: Hear From Industry Trailblazers Driving The Retail Revolution

Disruptive brands, innovative thinkers and new data discoveries are all driving rapid change in retail, and it can be tough to keep up. But the Retail TouchPoints 2017 Retail Innovation Conference, being held May 9-10 at Apella in New York City, will give attendees a crash course in what’s driving the retail revolution — along with lots of practical advice about how to take advantage of new opportunities. Some of the program highlights include: • Executives from companies including Walmart, Walgreens, J. Crew, Shinola, Jet.com, Moosejaw and Neiman Marcus; • Leading analysts from IDC Retail Insights, Deloitte Consulting, ERDM and Boston Retail Partners; • Exclusive results from the Retail TouchPoints Impact Of New Retail Roles survey; and • New York Times best-selling author Bryan Eisenberg revealing how companies can win with pages from Amazon’s Playbook. Read on for a preview and register today before all seats are sold out!
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