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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.

Registration Is Open For The 2019 Retail Innovation Conference

Early Bird registration is now open for the 2019 Retail Innovation Conference (#RIC19), May 6-8, 2019 in New York City. Retail executives can register for the Retail Innovation Conference here. In its fifth year, #RIC19 will be held in midtown Manhattan at the Convene event space on 46th Street. The conference offers a number of unique and exclusive features, including:

New InRiver CEO Offers Perspective On Why PIM Is Becoming Top Priority For Marketing Execs

One of the fastest growing areas of the software-as-a-service (SaaS) space over the past decade was marketing automation, and one of the brands that helped define that category was Eloqua. The company would go on to be acquired by Oracle in 2012 for a reported value of $870 million. During Eloqua’s formative years, 2005 through 2007, I had the opportunity to work closely with Thor Johnson in his role as head of marketing for the company, on a number of initiatives that helped define the category and position it for successful adoption.

Zaius Unveils Segment Builder 2.0

Zaius has debuted new segmentation capabilities, designed to let marketers create highly customized customer segments for advanced analytics and targeted campaign execution. Segment Builder 2.0 is designed to empower marketers to create segments based on the most comprehensive data set, ingesting data from any system in their marketing stack. Marketers can get a unified view of e-Commerce and POS data, as well as data pulled from web sites, mobile apps, ad platforms, satisfaction ratings and customer service support tickets.

Product Recommendations: Three Shortfalls to Avoid

It’s no secret that consumer expectations for personalized content have shifted drastically in the last decade, requiring brands to rapidly mature in how they engage with their customers. In fact, according to Boston Consulting Group, personalization is a game changer that will shift $800 billion of revenue to the 15% of companies that get it right over the next five years. This evolution has impacted the retail industry more than any other. Retail once thrived solely on in-person shopping experiences, like smelling 10 candles before selecting the most enticing; trying on a shirt and asking the sales associate which pants in the store would match best; or shopping for a new mattress and laying on each one to ensure the right level of firmness. Now, much of the customer journey has become digitized, and consumers seek the same individualized experiences online.

Retailers’ Best Defense Against The Amazon Effect: Prescriptive Analytics

One of the biggest catchphrases in nearly every retail trend conversation today is the “Amazon effect.” And after looking at the latest sales data, it’s clear why that is. For example, Slice Intelligence reported that the 2017 online holiday season was the strongest ever, with 12% more buyers and shoppers spending an average of 10.7% more than the previous year ($637.77 in 2017 vs. $575.74 in 2016). Amazon captured 38% of the online holiday shopping frenzy, and the next closest competitor was Best Buy, which garnered just 4% of the overall pie. There were five months last year in which Amazon commanded 40% or more of the e-Commerce market share.

Retail Remix Of 'Love Will Keep Us Together’: Takeaways From Etail East

Retail today is all about getting the customer to fall in love with products and brands. In personal relationships and in retail, love is complicated and must be nurtured. In retail that means delivering unique and compelling experiences; personalized messaging and offers; and relevant marketing and communications — consistently across all channels. When thinking about writing this article, I could not get this song out of my mind: "Love Will Keep Us Together," from 1975 by Captain and Tennille. Yes, I’m dating myself, but indulge me for a few minutes and listen to it. It pretty much lays out the strategy retailers should be thinking about as they are planning new customer strategies and technology implementations. During the 2018 eTail East event in Boston this month, many conversations and presentations were focused on how to win the hearts and minds of consumers. Clicktale, which offers Experience Analytics solutions, is working with a cognitive psychologist to better understand customer behavior in the digital world. Liraz Margalit, PhD has conducted studies covering the “Mobile Mindset” triggered by smartphone use; “Stress Shopping,” and “Emotions in the Digital World.” She explained: “Emotions are a gateway to our memory” about a brand. So how are retailers…

Weis Markets Seeks Streamlined Supply Chain Via Scan-Based Trading

  • Published in News Briefs
Scan-based trading (SBT), which allows suppliers to retain product ownership until the point of retail sale, can improve retailers’ and manufacturers’ ability to understand and act on consumer demand signals. Weis Markets, a supermarket retailer with 206 stores throughout the mid-Atlantic, is deploying a scan-based trading solution from ReposiTrak as it…
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Smart Glass Boosts Online Sales 38% By Expanding Digital Audience

Smart Glass Jewelry is an eco-friendly accessory brand that finds new uses for old materials by creating fashion jewelry from recycled bottles. The SMB retailer recently discovered that both old and new strategies are needed to optimize digital marketing in order to stimulate customer engagement and sales. Beginning in March 2018, Smart Glass deployed the Springbot Exchange Audience Expander to match its customer data and identify look-alike audiences, and then to launch an automated three-series email drip campaign. The Springbot solution automatically adds consumers who engage with a retailer’s email campaign to a permanent subscriber list.

Journey Analytics Platform Tracks Path To Conversion

Journey by CAKE is a cloud-based solution designed to provide retailers with an end-to-end view of a customer’s path to conversion across multiple channels and devices. Built on the CAKE Marketing Intelligence platform, the solution collects and analyzes granular first-party data about significant brand interactions that shoppers engage with prior to a conversion in order to measure marketing performance. Retailers can capture insights on how digital campaigns are performing across a range of online and offline channels including search, email, social, affiliate, direct, referral, TV and radio. The solution enables marketers to make decisions derived from real-time data by combining: Insights: Centralized multi-channel measurement across search, email, social affiliate, direct, mobile and more, plus a customer journey analytics dashboard; Multi-Touch Attribution: Rules-based and data-driven attribution modeling providing clarity into channel and campaign optimization efforts; Connections: Seamless integrations with digital media platforms, including Google, Bing, Facebook, Shopify, and others, to streamline the process of pulling in cost data and the tracking of first-party data across all digital channels; and  Solutions: Additional solutions for Lead Generation and Affiliate Management to facilitate closed-loop measurement of the entire online customer journey.

Four Strategic Ways Retailers Can Use Location Data Beyond Advertising

It’s widely assumed that location data is collected primarily for the purposes of targeting and advertising — like the time American Eagle Outfitters geofenced its outlet stores to deliver nearby customers timely promotions and notifications in the malls’ parking lots — to boost not only foot traffic but sales. While location data does enable a variety of successful advertising initiatives, what’s often overlooked is its broader, strategic business power. Location intelligence — generated from opt-in data that is thoroughly cleansed and, most importantly, aggregated and anonymized — can provide retailers with invaluable insights about their customers (both current and prospective), telling the stories of where they go and what they do there. Armed with these insights, retailers can better understand the markets in which they operate, the behaviors and motivations of their customers, and even benchmark against their competition.

How A 40M Decrease In Email Promos Increased Revenue At TUMI

Working to deliver a more relevant customer experience, TUMI was seeking to consolidate business functions “that have a direct relationship with the customer on a 1:1 basis,” noted Charlie Cole, Global Chief eCommerce Officer at Samsonite and Chief Digital Officer at TUMI. “We thought all these functions should live in one place,” he explained, “including online analytics, customer service, sales (retail/online/outlet/drop ship), warranty, repair, email send/open/click, social graph data…” Finding the right solution was a challenge, Cole explained: “We didn’t necessarily know where in the vendor landscape we were going to end up, so we talked to all sorts of partners, including email, personalization, more traditional CRM, etc.” After a thorough search, Cole and his team landed on the Customer Data Platform (CDP) from AgilOne. In this Q&A, Cole shares his learnings and results from the implementation.

Prime Day Mobile Spike Fades Fast For Non-Amazon Retailers

  • Published in News Briefs
Retailers riding Amazon’s coattails during Prime Day 2018 saw an impressive 156% increase in mobile app installs and purchases, but the good times didn’t last long. After a strong start prior to and during the 36-hour event on July 16, 2018, shopper fatigue quickly set in. An analysis by Liftoff…
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Marks & Spencer Leverages Predictive Analytics Platform For Buying, Pricing Decisions

  • Published in News Briefs
Marks & Spencer (M&S), the UK-based department store, has expanded its partnership with First Insight, a platform designed to help retailers make better product development and pricing decisions. M&S has been using First Insight’s predictive analytics to support design, buying and pricing decisions on categories including apparel, lingerie, footwear, accessories,…
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Exclusive Q&A: Explosive Growth Of Direct Brands Reveals Seismic Retail Shift

Earlier this year, the Interactive Advertising Bureau (IAB) released a report titled: The Rise of the 21st Century Brand Economy, which examined the sputtering growth of traditional retail and CPG brands versus the rise of direct brands over the past decade. To delve deeper into the findings of the report, Retail TouchPoints recently sat down with Randall Rothenberg, CEO of IAB, a trade association for interactive marketing representing more than 600 leading media, marketing and technology companies.
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