PREDICTIVE ANALYTICS IN RETAIL:

Size: px
Start display at page:

Download "PREDICTIVE ANALYTICS IN RETAIL:"

Transcription

1 TOTAL BUSINESS VISIBILITY PREDICTIVE ANALYTICS IN RETAIL: The next stage of the retail analytics journey The next step in this journey is predictive analytics. INTRODUCTION Analytics is already a common feature of ecommerce, allowing online retailers the ability to target customers with special offers and advertised products, tailored directly towards them. The simple act of looking at a customer s past purchases and then presenting offers based on these insights creates a shopping experience that immediately feels more personal. For a long time, personalized interaction between retailer and customer seemed extremely difficult to achieve and inefficient for anyone beyond luxury retailers who could afford to dedicate the time, effort and resources required. Today, implementing a similar strategy on the high-street for personalizing the shopping experience for customers is an increasing opportunity for high-street retailers. The advances in technology mean that customers provide digital footprints and create valuable data which retailers can utilize to improve the shopping experience. The next step in this journey is predictive analytics: taking proactive action based on real-time data and predictions about future trends. This whitepaper presents current uses of predictive analytics in the retail industry, the potential benefits of utilizing predictive analytics, and the expected impact on the future of retail. TODAY S PREDICTIVE ANALYTICS LANDSCAPE Many retailers are already collecting and analysing data, but this information is often only used in a reactionary capacity, such as correcting previous mistakes or taking action based on historical information which could be months or even years old. The next step is to take this analysis and use it in a predictive manner: one that can be used to optimize and streamline every step of the retail supply chain. This involves not just reacting to previous problems, but tackling potential issues before they occur. W H I T E P A P E R Written by David Ricketts and Carrie Morgan 2016 C24 Ltd For example, predictive data analysis can inform retailers of the exact supply and demand for certain products, which can then be used to inform stock purchases and even internal store marketing in real-time. This can be tailored based on behaviour within individual outlets, stores, and customer demographics. For example, if a clothing retailer can see that certain types, sizes, and styles of clothing are popular in certain store locations, they can ensure that there is enough of that particular stock in those stores to meet demand, while reducing the amount of other products ordered (1). This enables the retailer to operate a more lean operation ordering only what they need and reducing what they don t need.

2 Predictive analytics can also be used to reduce waste and optimize the supply chain. INCREASING EFFICIENCY IN STORE The American retailer, Stage, instead placed store managers directly against analytics software in order to determine the effectiveness of one party over the other in determining price markdowns. The results were surprisingly conclusive. Rather than relying on instinct, predictive analytics were able to utilize past customer purchase patterns in order to accurately predict when the optimal time would be to introduce a sale or price markdown in order to best engage with customers. Steve Hunter, the CIO of Stage who oversaw the test, commented that 90% of the time, analytics won (1). Hunter points out that most store managers often place sales at the end of a season, in order to get rid of excess stock. However, the analytics approach suggested introducing a sale earlier, just when the purchases of products were starting to lull, which proved far more effective (1). Predictive analytics can also be used to optimize the current usage of loyalty schemes in retail. Having been an accepted part of UK retail for over three decades (7), loyalty schemes are an effective way to acquire data on regular customers, and offer promotions. However, rather than simply offering blanket promotions based on mass analytics, as most companies currently do, predictive analytics can be used to make offers based on an individual loyalty scheme member s personal shopping history, with rewards and promotions based on more accurate forecasts of their purchasing demands (8). These kinds of tailored, personal offers are more likely to endear a customer to a brand, as it appears they are offering specifically what they want, making them more likely to become long term customers. Retailers, however, now have to balance this with a growing awareness within their consumer bases about how their data is tracked and utilised. Not all consumers are happy with their data being collected and the saturation of loyalty schemes within the market may actually initiate a change in how customer data is collected in the future. ENHANCING THE CUSTOMER EXPERIENCE At its most basic level, all of these improvements build to one greater whole: improving the customer experience. If a customer finds that stock to their tastes is available in a store, and receives recommendations that are made specific to their sense of style, then it all adds up to providing a heightened in-store experience. Improving in-store experiences has been identified as an essential way to ensure the future of high-street retail against the growing online trend in shopping. In a world where customers can order anything from electronics to groceries with just a few mouse clicks and have their products delivered the same day, highstreet retailers are under pressure to identify how they can continue to attract shoppers. As a means to this end, there have been active steps towards integrating digital and predictive analytics into the store experience by many top retailers. Several retailers are using data collected from in-store digital experiences to provide seemingly personal experiences to each customer, with a focus on building a long term relationship between brand and user (9). Building this form of relationship should be the ultimate goal of a retail brand and predictive analytics is increasingly becoming a useful tool for achieving this, as online and offline activities are becoming increasingly integrated. Suggestions and recommendations have been cited as key factors in enhancing shopping experiences (1), something that online retailers such as Amazon have utilized to great effect for many years. Simple things, such as remembering where a customer s last order was delivered to, or making suggested additions to a basket based on current purchases, are all intended to make the customer s shopping experience as simple and as straight-forward as possible. In short, it provides what customers want, when they need it - which is a service philosophy that can be applied to high-street retail through predictive analytics.

3 IMPROVING THE SUPPLY CHAIN The benefits of predicative analytics to customers are just the beginning, as there are many ways these tools can be applied to improve the end to end operations of a retail organisation. The shop floor is just one part of the retail system. Retail success is reliant upon an efficient supply chain and the more efficient distribution of stock and materials is made possible through predictive analytics, such as EAT s 14% reduction in waste food through better stock analysis (2), and Stage s demographic study ensuring that the right amount of clothing styles and sizes go to the correct stores (1). While this allows for consumer supply and demand to be met, it also provides an obvious improvement to profit margins: less time and resources are devoted towards dealing with waste, therefore cutting losses and increasing the potential for profit. Predictive analytics can have an impact at every stage of the retail supply chain. By making analyticsempowered predictions based on supply and demand, manufacturers can order the correct amount of raw materials to meet demand (5). During production, accurate visualisations of the factory floor and processes can be used to streamline production, increase efficiency, and enhance final product quality (5). The potential for real time tracking and monitoring of products, particularly perishables, can be used to cut losses on spoiled or damaged goods by identifying particular trouble spots when goods are in transit (4). Predictive analytics software can even be used to identify stages where the supply chain slows down or is impacted, making predictive suggestions that could target these trouble spots, leading to increased efficiency (5). This increased efficiency is only made possible by the rate at which new technology is brought to market. Steve Hunter from Stage has stated that the degree of data analysis needed for their retail requirements would previously require large amounts of staff and manpower, but can now be handled by just one fast system in a relatively short amount of time (1). The business intelligence tool, Qlik, has shown that it can calculate a day s costs for a supply chain to 99% accuracy in one day, whereas previously it could take between seven and ten days (10), allowing companies to be far more efficient in their responses to the data. The whole system of predictive analytics is based around increasing efficiency, and it is likely to become increasingly so: as predictive analytics and its associated systems become more efficient, supply chains will become more efficient, which will cut costs, and enhance the retail experience. This leads to an increase in sales, resulting in improved profit margins, which will increase demand for efficiency focused analytics activities in a mid to make more savings. The entire process is cyclical and likely to continue to develop at a rapid rate. This rapid pace requires organizations to be flexible enough to adapt, make changes, and take action once they have collected and collated the data, in order avoid being rich in insight and poor in action. Ensuring that online and offline services are integrated as a means of data collection will be an important step for high-street stores as retailers look for ways to link the entire shopping experience (8). For example, a customer could browse clothing on a mobile device, purchase it online, and then go into the store where their chosen product could be waiting for them at the register to pick up. On the infrastructure side, analytics software could be applied at every step of the process to deliver the greatest benefit, so as to ensure that each phase of a supply chain is running at optimal efficiency (10). Ensuring that online and offline services are integrated as a means of data collection will be an important step for highstreet stores as retailers.

4 Many retailers are also developing omnichannel strategies, which integrate offline, online, and mobile shopping experiences. IOT AND THE FUTURE OF RETAIL Future tech developments are likely to increase the opportunity for retail analytics within the retail sector. A major development is the increase in Internet of Things (IOT) devices across retail outlets. The Internet of Things refers to a network of devices communicating with a wireless connection. For instance, trackers and monitors could be harnessed for the transportation of produce along the production line; just one step in integrating IOT devices into the retail supply chain (3; 4). track in-store traffic patterns or to monitor which displays are looked at, allowing for highly targeted positioning of advertising, produce, and valuable insights needed for changing store layouts, to ultimately maximise sales (12; 13). While some of this technology appears to be from the realm of science-fiction, the market is already offering sophisticated IOT solutions. Sensor devices such as the Aurora sensor (14), allow for smarter and faster analysis of instore traffic, with the ability to exclude staff movement from its analysis. Digital billboards are already being offered by companies such as Offer Moments (15), whose digital signage displays personalized, location and demographic based advertising to customers who approach it. As the success of these tactics and devices becomes more widely known, demand for them will increase, which will in turn push development into even smarter and more efficient devices. On the shop floor, digital signage can be used to push content into the store based on location, trends and current events (3). Many retailers are also developing omni-channel strategies, which integrate offline, online, and mobile shopping experiences (11). This can involve the development of mobile phone apps to enhance the in-store experience with features like floor plans or integrated shopping lists. These apps could also interact with in-store beacons, which can inform staff about frequent visitors upon their arrival (3). Equipping staff with information such as purchasing habits and clothing tastes allows them to provide more effective recommendations and deliver a highly personalised retail experience. Based on the excellence of service, customers are then encouraged to return in the future, producing long term relationships which are essential for the success of retail brands (9). IOT sensors can even be used to

5 CONCLUSION The potential opportunities for predictive analysis in retail are huge. It can allow retailers to go beyond just reacting to historic internal data and instead utilize an extremely broad range of variables to develop responsive marketing and retail strategies. These variables can range from internal, customer-based and external data points, which predictive analytics software can amalgamate in order to tailor each store experience directly towards individual customers. Almost every step of the retail supply chain, from manufacturing to the shop floor, can be optimized and made more efficient by the integration of predictive analytics, leading to obvious improvements in a retailer s profit margins. Along with this, analytics can potentially have even greater long term effects; ones that are essential to ensuring the retailer s longevity in the market and brand loyalty amongst customers. Return customers are essential to high-street retail s future, which requires establishing a relationship between brand and customer. Retailers that are embracing analytics are gaining in-depth insights into their customers and the retail environment as a whole, data which would have previously been impossible to gain without current technology. These insights are being used to create a new form of retail: one that is efficient, smart, and conducive towards encouraging brand loyalty and better customer experience. REFERENCES AND FURTHER READING (1) Forbes - Big Data In Retail: How To Win With Predictive Analytics (2) Computer Weekly - EAT builds appetite for predictive analytics (3) Accenture - The Internet of Things: Revolutionizing the Retail Industry (4) CIO - 6 ways data is taking over retail (5) Data Science Central - Predictive Analytics in the Supply Chain (6) Business Solutions Big Data Analytics - Real World Benefits for Retailers (7) Guardian - How loyal to your reward cards are you? (8) Vend Retail Trends and Predictions 2016 (9) WARC - Design the retail experience (10) Logistics Viewpoints - Competing on Analytics: A Supply Chain Case Study (11) Computer Weekly - Are retailers using data analysis to their advantage? (12) WWD - POS Data: Retail s Biggest, Untapped Opportunity (13) BizShifts-Trends - War for Retail Shelf Space (14) Retail Next Aurora (15) Offer Moments ABOUT C24 C24 Ltd is one of the UK s leading privately owned specialist managed service and hosting providers, based in the Midlands, UK. Working with businesses all over the globe, the company manages, secures and delivers critical business applications to over 100 countries, with a particular focus on the legal sector. As a strategic partner to Practice Management ISVs, we deliver enterprise hosting platforms legal firms who are looking for more flexible solutions for their core practice management platforms. To discuss how C24 could help you to create actionable intelligence for your organisation, then please get in touch to arrange a demo session of your live data. TOTAL BUSINESS VISIBILITY T: E: marketing@c24.co.uk Find us on:

Predictive analytics in retail:

Predictive analytics in retail: Predictive analytics in retail: The next stage of the retail analytics journey Summary: Advances in technology mean that customers provide digital footprints and create valuable data which retailers can

More information

Transform retail by building a connected business

Transform retail by building a connected business Transform retail by building a connected business The era of digital and omni-channel retailing is here The retail industry has been under a transformation in recent years, fueled by empowered consumers.

More information

THE FOUR SHOPPER PROFILES YOU SHOULD BE TARGETING

THE FOUR SHOPPER PROFILES YOU SHOULD BE TARGETING THE FOUR SHOPPER PROFILES YOU SHOULD BE TARGETING Discount Dependent Luxury Loyalists Impulse Led TABLE OF CONTENTS Looking Beyond Demographics: Four Modern Shopper Profiles... 5 Their Behaviour Discount

More information

2017 SHOPPER PROFILES

2017 SHOPPER PROFILES 2017 SHOPPER PROFILES Discount Dependent Luxury Loyalists Impulse Led Couch Converters LOOKING BEYOND DEMOGRAPHICS: FOUR MODERN SHOPPER PROFILES The modern shopper is becoming increasingly complex and

More information

2017 SHOPPER PROFILES

2017 SHOPPER PROFILES 2017 SHOPPER PROFILES Discount Dependent Luxury Loyalists Impulse Led Couch Converters LOOKING BEYOND DEMOGRAPHICS: FOUR MODERN SHOPPER PROFILES The modern shopper is becoming increasingly complex and

More information

RETAIL MARKETING CHALLENGES BIG DATA ANALYSIS

RETAIL MARKETING CHALLENGES BIG DATA ANALYSIS Volume 118 No. 24 2018 ISSN: 1314-3395 (on-line version) url: http://www.acadpubl.eu/hub/ http://www.acadpubl.eu/hub/ RETAIL MARKETING CHALLENGES BIG DATA ANALYSIS Mr A Jai Kumar Assistant Professor Ms

More information

Bridging Digital and Traditional Shopping Experiences. jibestream.com

Bridging Digital and Traditional Shopping Experiences. jibestream.com Bridging Digital and Traditional Shopping Experiences jibestream.com 1 TABLE OF CONTENTS The Retailer Landscape 3 Shopping Mall App Success Factors 4 The Path to Success 9 Looking Forward 13 2 The rapid

More information

Browsing & Buying Behaviour 2016.

Browsing & Buying Behaviour 2016. Browsing & Buying Behaviour 2016. Study: online consumer shopping behaviour revealed 1 United Kingdom: Q3 2016 Preface With UK ecommerce sales growing at an annual rate of 15%, according to the Centre

More information

Extend your brand reach with M2M

Extend your brand reach with M2M Extend your brand reach with M2M Vodafone M2M solutions for the consumer goods industry m2m.vodafone.com Vodafone Power to you M2M solutions for consumer goods The new shopping landscape The consumer goods

More information

Creating a seamless retail customer experience

Creating a seamless retail customer experience An Executive Summary by The Economist Intelligence Unit Creating a seamless retail customer experience People have changed the way they shop. Rather than going to the nearest store to research and make

More information

Big Data: A BIG problem and a HUGE opportunity. Version MAY 2013 xcommedia

Big Data: A BIG problem and a HUGE opportunity. Version MAY 2013 xcommedia Big Data: A BIG problem and a HUGE opportunity. Version 1.0 22 MAY 2013 xcommedia 2013 www.xcommedia.com.au Page 1 Introduction The volume and amount of data in the world has been increasing exponentially

More information

Critical Review. By Larry Eeles

Critical Review. By Larry Eeles Critical Review By Larry Eeles Market Placement Online & High St Competitors: Online Only: As a midmarket, affordable brand, selling luxurious and aspirational products, The White Company stands alongside

More information

BRANCHING OUT. Transforming retail banking branches with an omni-channel customer experience RETAIL BANKING

BRANCHING OUT. Transforming retail banking branches with an omni-channel customer experience RETAIL BANKING BRANCHING OUT Transforming retail banking branches with an omni-channel customer experience RETAIL BANKING MEETING CUSTOMER EXPECTATIONS IN A DIGITAL AGE In the branch or on a phone. Face-to-face or digital.

More information

Revionics Space Suite enables retailers to right-size their store space and unlock each store s unique revenue and profit potential with:

Revionics Space Suite enables retailers to right-size their store space and unlock each store s unique revenue and profit potential with: Space Suite Right-size your store space, identify assortment opportunities and unlock each channel s and each store s unique revenue and profit potential. Maximize Space and Assortment with Every Input

More information

THE CONSUMER TRENDS REPORT 2017 EDITION. Multiple Channels. One Experience.

THE CONSUMER TRENDS REPORT 2017 EDITION. Multiple Channels. One Experience. THE CONSUMER TRENDS REPORT 2017 EDITION Multiple Channels. One Experience. INTRODUCTION Retailers and manufacturers know having an omnichannel strategy is table stakes for delivering seamless, connected

More information

Cross-channel marketing. What can the best of the best tell us?

Cross-channel marketing. What can the best of the best tell us? Cross-channel marketing What can the best of the best tell us? Contents Introduction 3 Today s cross-channel marketing challenge 4 Best of the Best 2015 Key Facts 1. So many devices, so little attention

More information

Digitising the Consumer Experience

Digitising the Consumer Experience Bricks and Mortar No More? Digitising the Consumer Experience Technology has had a profound impact on all realms of our daily lives, and the retail industry is no exception to this. Multiple touchpoints,

More information

To win over grocery shoppers, rethink your technology and embrace a unified commerce approach

To win over grocery shoppers, rethink your technology and embrace a unified commerce approach A white paper by PCMS, a proven global provider of grocery commerce solutions Winter 2017 To win over grocery shoppers, rethink your technology and embrace a unified commerce approach Winter 2017 Introduction

More information

Zero clothing returns. Digital future or fairytale?

Zero clothing returns. Digital future or fairytale? Zero clothing returns. Digital future or fairytale? 1 Executive Summary Retail is disrupted and out of balance; in the race to win with customer experience, operating costs have spiralled. Digital technologies

More information

DXC Eclipse White Paper. CRM delights the armchair shopper

DXC Eclipse White Paper. CRM delights the armchair shopper CRM delights the armchair shopper 1 Table of contents CRM: The framework for personalised retail 2 Clienteling 2 Self-service 3 The power of mobile CRM 3 Integrated data delivering the new retail experience

More information

Top 10 Retailer Wi-Fi Benefits

Top 10 Retailer Wi-Fi Benefits Top 10 Retailer Wi-Fi Benefits Retailers who haven t yet embraced Wi-Fi as part of their overall branding and customer service strategy run the risk of losing out to their competitors who have. Here are

More information

1 01. Customer Acquisition vs. Customer retention: the big challenge The role of Retention Marketing in e-commerce

1 01. Customer Acquisition vs. Customer retention: the big challenge The role of Retention Marketing in e-commerce 1 01. Customer Acquisition vs. Customer retention: the big challenge 3 02. The role of Retention Marketing in e-commerce 6 03. Refine Customer Experience and drive customer retention with these 7 tips

More information

OPTIMISING STORE PERFORMANCE FOR DIGITAL RETAIL JAVELIN GROUP WHITE PAPER

OPTIMISING STORE PERFORMANCE FOR DIGITAL RETAIL JAVELIN GROUP WHITE PAPER OPTIMISING STORE PERFORMANCE FOR DIGITAL RETAIL JAVELIN GROUP WHITE PAPER JAVELIN GROUP JANUARY 2016 DIGITAL STORE OPERATIONS 02 CONTENTS Contents 1 Introduction 03 2 Optimising store operations 04 1 Customer

More information

Intelligent Retail Consumer Analytics. Understanding your customers to drive better retail performance

Intelligent Retail Consumer Analytics. Understanding your customers to drive better retail performance Intelligent Retail Consumer Analytics Understanding your customers to drive better retail performance 2 3 Gaining insight from customer behaviour Retail is transforming and fast. Widespread connectivity,

More information

How to drive customer retention in e-commerce. 7 tips to transform your online business and thrive

How to drive customer retention in e-commerce. 7 tips to transform your online business and thrive How to drive customer retention in e-commerce 7 tips to transform your online business and thrive Table of Contents 1 01. Customer Acquisition vs. Customer retention: the big challenge 3 02. The role of

More information

INTELLIGENT RETAIL SPACES

INTELLIGENT RETAIL SPACES INTELLIGENT RETAIL SPACES THE DIGITAL TRANSFORMATION OF RETAIL 03 04 05 06 07 08 09 10 11 What Does the Future Hold in Store for Retail? Steps to Intelligent Retail Spaces PROMOTE: Shopper Personalisation

More information

Wireless Connectivity That Offers Insights Into Customer Behaviours.

Wireless Connectivity That Offers Insights Into Customer Behaviours. Singtel Business Product Factsheet Brochure Managed WiFi-as-a-Service Defense Analytics Services Wireless Connectivity That Offers Insights Into Customer Behaviours. Whether you are operating in the retail,

More information

Think of the customer journey Mobile is a must-have POS must get personal Upselling and cross-selling

Think of the customer journey Mobile is a must-have POS must get personal Upselling and cross-selling Digital technology has transformed the world and people s expectations when it comes to many industries, including retail. Many retailers are, however, behind the curve, using technology that cannot deliver

More information

Digitalisation Omni-Channel Customer Experience. Exact Inventories, Article Availability and Real-Time Analytics: The Foundation for Your Strategy

Digitalisation Omni-Channel Customer Experience. Exact Inventories, Article Availability and Real-Time Analytics: The Foundation for Your Strategy EN Digitalisation Omni-Channel Customer Experience Exact Inventories, Article Availability and Real-Time Analytics: The Foundation for Your Strategy The Detego Suite increases your supply chain efficiency

More information

OAKLIN INSIGHTS. Successful Omni-Channel Retail

OAKLIN INSIGHTS. Successful Omni-Channel Retail OAKLIN INSIGHTS Successful Omni-Channel Retail SUCCESSFUL OMNI-CHANNEL RETAIL 1 Copyright Oaklin Ltd 2016. All rights reserved. Anyone following trends in the retail industry will be aware that retailers

More information

Our brand is alive! Understand. Build. Measure. Deploy

Our brand is alive! Understand. Build. Measure. Deploy 1 Our brand is alive! Understand Measure Build Deploy 2 Stronger Branding Understand our brand environment Put the customer first Understand Customers expectations Define strong promise Define the Brand

More information

How to build digital, connected and adaptive Customer Experiences

How to build digital, connected and adaptive Customer Experiences V How to build digital, connected and adaptive Customer Experiences The secret to making your customers loyal 2 Keeping customers happy has never been tougher. They ve more of everything: devices, channels,

More information

KEYS TO YOUR RETAIL FUTURE. Six Strategies to Succeed in a Changing Marketplace

KEYS TO YOUR RETAIL FUTURE. Six Strategies to Succeed in a Changing Marketplace KEYS TO YOUR RETAIL FUTURE Six Strategies to Succeed in a Changing Marketplace Six Strategies to Succeed in a Changing Marketplace In today s ultra-competitive retail environment, you need sound business

More information

RETAIL A QMATIC WHITEPAPER HOW TO IMPROVE CUSTOMER EXPERIENCE AND ADDRESSING MULTI-CHANNEL CHALLENGES USING CUSTOMER FLOW MANAGEMENT METHODOLOGIES

RETAIL A QMATIC WHITEPAPER HOW TO IMPROVE CUSTOMER EXPERIENCE AND ADDRESSING MULTI-CHANNEL CHALLENGES USING CUSTOMER FLOW MANAGEMENT METHODOLOGIES RETAIL HOW TO IMPROVE CUSTOMER EXPERIENCE AND ADDRESSING MULTI-CHANNEL CHALLENGES USING CUSTOMER FLOW MANAGEMENT METHODOLOGIES A QMATIC WHITEPAPER 2013 Q-MATIC AB. All rights reserved. Ver 1.0 Abstract

More information

INTELLIGENT RETAIL SPACES

INTELLIGENT RETAIL SPACES INTELLIGENT RETAIL SPACES THE DIGITAL TRANSFORMATION OF RETAIL 02 What Does the Future Hold in Store for Retail? 04 Steps to Intelligent Retail Spaces 05 PROMOTE: Shopper Personalization 06 FIND: In-Store

More information

CRM Delights the. Armchair Shopper

CRM Delights the. Armchair Shopper CRM Delights the Armchair Shopper Contents Contents Introduction...3 CRM - New Concepts in Retail...4 The Power of Mobile CRM...5 Integrated Data Delivering the New Retail Experience...6 Conclusion...7

More information

Making Omnichannel Commerce Work with the Latest Technology Innovations

Making Omnichannel Commerce Work with the Latest Technology Innovations Making Omnichannel Commerce Work with the Latest Technology Innovations Adam Silverman, Principal Analyst @AdamKSilverman July 1 st, 2015 The pace of change is accelerating faster than anticipated a year

More information

Leading the Customer Experience in the Consumer Products and Retail Sector. Findings from 600 consumer products and retail marketing leaders worldwide

Leading the Customer Experience in the Consumer Products and Retail Sector. Findings from 600 consumer products and retail marketing leaders worldwide Leading the Customer Experience in the Consumer Products and Retail Sector Findings from 600 consumer products and retail marketing leaders worldwide A Note from Salesforce Industries Empowered by technology,

More information

OPEN. Social Special. for. Tips for RETAILERS. It s not multichannel, it s not omnichannel, it s just retail.

OPEN. Social Special. for. Tips for RETAILERS. It s not multichannel, it s not omnichannel, it s just retail. OPEN Social Special 2 1 for Tips for RETAILERS It s not multichannel, it s not omnichannel, it s just retail Making it work for the customer Technology has enabled the smart retailer to ensure that the

More information

Machine Learning Technologies for The Hospitality Industry

Machine Learning Technologies for The Hospitality Industry Machine Learning Technologies for The Hospitality Industry The emergence of new computing technologies has unlocked the gate for hospitality businesses to enter the Machine Learning and Big Data arena.

More information

How parking can deliver data and customer insights

How parking can deliver data and customer insights How parking can deliver data and customer insights that drive value-adding decisions Get to know your customers better Big Data is something that many want to harvest and understand in order to create

More information

PUSHING THE BUTTON ON MACHINE-LED COMMERCE IN FMCG

PUSHING THE BUTTON ON MACHINE-LED COMMERCE IN FMCG PUSHING THE BUTTON ON MACHINE-LED COMMERCE IN FMCG By Tim Reay, Head of Grocery www.salmon.com 1 Image credit: Samsung Introduction For many years, we ve been speculating about the future of commerce.

More information

TRANSFORMING RETAIL. RINGING UP GREATER PROFITS Exceed consumer expectations. Keep your brand promise.

TRANSFORMING RETAIL. RINGING UP GREATER PROFITS Exceed consumer expectations. Keep your brand promise. TRANSFORMING RETAIL RINGING UP GREATER PROFITS Exceed consumer expectations. Keep your brand promise. TRANSFORMING RETAIL As one of the fastest-changing industries on the planet, is no stranger to Digital

More information

A BUYER S GUIDE TO CHOOSING A MOBILE MARKETING PLATFORM

A BUYER S GUIDE TO CHOOSING A MOBILE MARKETING PLATFORM A BUYER S GUIDE TO CHOOSING A MOBILE MARKETING PLATFORM A Buyer s Guide to Choosing a Mobile Marketing Platform Today, mobile users are demanding more from their app experiences, and the priority is clear:

More information

ELISEO BELMONTE. Accenture / Managing Director. The Future of Retail

ELISEO BELMONTE. Accenture / Managing Director. The Future of Retail ELISEO BELMONTE Accenture / Managing Director The Future of Retail Retail is facing its largest transformation wave since 1970 From Processes 80s Content Procurement Slide Option 1 Finance To Data 90s

More information

AN ARTICLE FROM. The blessing and curse of proximity marketing

AN ARTICLE FROM. The blessing and curse of proximity marketing AN ARTICLE FROM The blessing and curse of proximity marketing Editor s Note: The following is a guest post from Paavana L. Kumar, associate, at the advertising, marketing and promotions practice group

More information

A MARKETER S GUIDE TO CUSTOMER DATA SOLUTIONS FOR CONSUMER PACKAGED GOODS

A MARKETER S GUIDE TO CUSTOMER DATA SOLUTIONS FOR CONSUMER PACKAGED GOODS A MARKETER S GUIDE TO CUSTOMER DATA SOLUTIONS FOR CONSUMER PACKAGED GOODS Copyright 2017 SessionM 1 WHITEPAPER INTRODUCTION CPG has long been thought of as a proving ground for Marketers because the supermarket

More information

Global Brand Research 2017

Global Brand Research 2017 Astound Commerce Global Brand Research 2017 By Lauren Freedman SVP Digital Strategy Astound Commerce Global Q1 2017 Brand Page Research 1 2017 Page 1 Agenda I. The Methodology and Topline II. Brand Manufacturer

More information

CONNECTED CUSTOMER: OMNI-CHANNEL MANAGEMENT IN A CONNECTED WORLD. November 2016

CONNECTED CUSTOMER: OMNI-CHANNEL MANAGEMENT IN A CONNECTED WORLD. November 2016 CONNECTED CUSTOMER: OMNI-CHANNEL MANAGEMENT IN A CONNECTED WORLD Contents 03 Meeting challenges. Maximising opportunities. Customer service strategies for a connected world. 04 Charting this new, largely

More information

FIGHTING E-COMMERCE FOMO: How to make the most of the tech you have, and be smart about what you invest in next.

FIGHTING E-COMMERCE FOMO: How to make the most of the tech you have, and be smart about what you invest in next. FIGHTING E-COMMERCE FOMO: How to make the most of the tech you have, and be smart about what you invest in next. The (tech) struggle is real. E-commerce marketers have long relied on the Fear Of Missing

More information

2017 Retail Tech Spending Trends: Where are Retailers Spending Their IT Dollars this Year?

2017 Retail Tech Spending Trends: Where are Retailers Spending Their IT Dollars this Year? 2017 Retail Tech Spending Trends: Where are Retailers Spending Their IT Dollars this Year? As 2017 gets underway, retailers are contemplating the best investments to improve their businesses in the coming

More information

BEACONS. The path to improved in-store digital experiences

BEACONS. The path to improved in-store digital experiences BEACONS The path to improved in-store digital experiences Introduction E-commerce players have an unfair data advantage. They have first time and repeat visitors data, login frequency and purchase abandonment

More information

Guide. Omni-Channel Order Management

Guide. Omni-Channel Order Management Guide Omni-Channel Order Management Omni-Channel Order Management Guide 02 Omni-Channel Order Management Guide The retail industry is undergoing a phenomenal transformation. Technological advances and

More information

A complete guide to delivering a great omni-channel customer experience

A complete guide to delivering a great omni-channel customer experience White Paper A complete guide to delivering a great omni-channel customer experience Intele.com About this White Paper Omni-channel is a term commonly used by online and traditional retailers today to describe:...

More information

The Rising Value of APIs. MuleSoft s digital transformation predictions

The Rising Value of APIs. MuleSoft s digital transformation predictions WHITEPAPER The Rising Value of APIs MuleSoft s digital transformation predictions By Ross Mason, Founder and VP Product Strategy, MuleSoft Joe McKendrick, Forbes staff writer The Rising Value of APIs Data

More information

How to Use a Mobile App to Develop Your Business?

How to Use a Mobile App to Develop Your Business? How to Use a Mobile App to Develop Your Business? Table of Contents What Information Can You Find in Our E-Book? 02 Table of Contents 03 Introduction 05 Mobile Market General Trends 11 What Can a Mobile

More information

Retail, RFID and the Internet of Things (IoT)

Retail, RFID and the Internet of Things (IoT) Retail, RFID and the Internet of Things (IoT) The Foundation Much has been written about the importance of Omni-channel fulfillment in retail. Retailers realize that in order to stay competitive they must

More information

Putting your customers and colleagues at the heart of an easy retailing experience.

Putting your customers and colleagues at the heart of an easy retailing experience. Putting your customers and colleagues at the heart of an easy retailing experience. Alexander Black is a large department store which has an established partnership with BT. This enables the store to embrace

More information

Boosting the Store Experience with Digital Signage and Retail Analytics

Boosting the Store Experience with Digital Signage and Retail Analytics Boosting the Store Experience with Digital Signage and Retail Analytics The following article is based on Retail Analytics training given by Jaume Portell CEO of Beabloo at ISE 2017 in Amsterdam. Digital

More information

A NEW REALITY FOR RETAIL

A NEW REALITY FOR RETAIL VYNAMIC RETAIL SOFTWARE SUITE A NEW REALITY FOR RETAIL Open, Flexible Software Solutions to Drive Connected Commerce PAGE 2 VYNAMIC RETAIL SOFTWARE SUITE THE FUTURE OF RETAIL IS CONNECTED COMMERCE The

More information

ecommerce Loyalty? YES indeed, Mr. Customer!

ecommerce Loyalty? YES indeed, Mr. Customer! ecommerce Loyalty? YES indeed, Mr. Customer! MAKIS THEMELIS Chief Digital & Commercial Officer QIVOS S.A. About Me BA in European Studies / MA in International Business Relations 20+ years of professional

More information

The Store Still at the Center of Retail

The Store Still at the Center of Retail MANHATTAN ACTIVE STORE The Store Still at the Center of Retail WHAT KIND OF EXPERIENCE DO YOUR CUSTOMERS WANT? Take a look around at what competitors are doing. How can you exceed it? Consider pure digital

More information

The Top Emerging Technologies For B2C Marketers

The Top Emerging Technologies For B2C Marketers The Top Emerging Technologies For B2C Marketers New technologies are always emerging in response to customers demands and marketers needs. To help you focus your long-term tech investment strategies, we

More information

THE FUTURE OF SHOPPER MARKETING. janeperry

THE FUTURE OF SHOPPER MARKETING. janeperry THE FUTURE OF SHOPPER MARKETING janeperry Intro Macro factors affecting shoppers Changing shopper behaviours and implications What does it all mean for brands and retailers? FORCES SHAPING SHOPPER 85%

More information

2016 UPS How to Click with High-Tech Online Shoppers

2016 UPS How to Click with High-Tech Online Shoppers 2016 UPS How to Click with High-Tech Online Shoppers INTRODUCTION High-tech online purchasers are plugged in across all stages of the shopping experience from research and purchase to delivery and returns.

More information

Translating subscriber data into actionable intelligence. A marketing goldmine just out of reach. Media & Publishing

Translating subscriber data into actionable intelligence. A marketing goldmine just out of reach. Media & Publishing Media & Publishing Translating subscriber data into actionable intelligence 4 imperatives for media and publishing companies A marketing goldmine just out of reach In the era of the connected customer,

More information

THE RETAIL TECHNOLOGY MARKET INDICATOR REPORT MIND THE GAP

THE RETAIL TECHNOLOGY MARKET INDICATOR REPORT MIND THE GAP THE RETAIL TECHNOLOGY MARKET INDICATOR REPORT MIND THE GAP The modern retail environment is facing challenging times and we can see that much needs to be done to ensure the profitability of physical stores.

More information

Enhancing mcommerce Capabilities and Customer Experience: Key Considerations

Enhancing mcommerce Capabilities and Customer Experience: Key Considerations retail consulting and industry thought leadership Enhancing mcommerce Capabilities and Customer Experience: Key Considerations Enhancing mcommerce Capabilities and Customer Experience 2 mcommerce or mobile-based

More information

Session Title. Consumer Behavior & Expectations: Insights From the 2014 IBM Business Value Global Consumer Study

Session Title. Consumer Behavior & Expectations: Insights From the 2014 IBM Business Value Global Consumer Study Retail Recommended s The following sessions have content that is especially relevant for those in the retail industry. They are not intended to be full agendas you will no doubt find other sessionss worthwhile,

More information

GETTING TO THE FRONT OF THE QUEUE

GETTING TO THE FRONT OF THE QUEUE GETTING TO THE FRONT OF THE QUEUE THERE IS STILL WORK TO DO TO DEFINE THE OBJECTIVE AND PROCESS OF SHOPPER MARKETING If you were to ask 100 industry experts for a definition of shopper marketing you would

More information

Webrooming vs Showrooming. a report by PushON ecommerce. Delivered.

Webrooming vs Showrooming. a report by PushON ecommerce. Delivered. Webrooming vs Showrooming a report by PushON ecommerce. Delivered. Introduction Retail has undergone immense change in recent years, driven largely by online and mobile technology. The growth of online

More information

Introduction to digital marketing

Introduction to digital marketing Introduction to digital marketing with emphasis on social media DAVID FERNANDO TERRA FERMA MEDIA LTD www.terrafermamedia.com Marketing communications agency: website design & build social media marketing

More information

IMAGINE IOT PROTOTYPE CHALLENGE SMART SHOPPING CART PROTOTYPE

IMAGINE IOT PROTOTYPE CHALLENGE SMART SHOPPING CART PROTOTYPE IMAGINE IOT PROTOTYPE CHALLENGE SMART SHOPPING CART PROTOTYPE Smart Shopping Cart using IoT I am planning to build an app that will be used as part of a touch screen device that will be integrated to a

More information

Master Growth Marketing with Modern Analytics

Master Growth Marketing with Modern Analytics Master Growth Marketing with Modern Analytics Marketing Analytics in Periscope Data 201807 Content 5 7 8 10 11 12 13 14 Smarter Tools for Smarter Marketing Crunchbase Success Story Building a More Data-Driven

More information

How mobile and wearable technology is transforming UK consumer behaviour and retailer opportunities

How mobile and wearable technology is transforming UK consumer behaviour and retailer opportunities How mobile and wearable technology is transforming UK consumer behaviour and retailer opportunities UK PowerReviews. All Rights Reserved 2015 Retail Revolution 1 Contents 3 Retail Nirvana is just a heartbeat

More information

Excel Customer Digital Experience

Excel Customer Digital Experience PROVICE Informatika, 2017 Excel Customer Digital Experience Real-time, personalised and omni-channel Master the Digital Transformation Excel Customer Digital Experience Accelerate Innovation Modernize

More information

now you click with can really your customers Meet the future. Today.

now you click with can really your customers Meet the future. Today. now you can really click with your customers From handshake to high-five, Enterprise WiFi Solutions is the connection you need to build the consumer relationship you want. Get one step closer to creating

More information

PUSH POSSIBLE FOR ACTIVE RETAIL

PUSH POSSIBLE FOR ACTIVE RETAIL MANHATTAN ACTIVE OMNI PUSH POSSIBLE FOR ACTIVE RETAIL SIX STRATEGIES TO INCREASE CUSTOMER ENGAGEMENT AND RETAILER PROFITABILITY A CHANGING RETAIL LANDSCAPE More than 7,000 stores have recently closed their

More information

3 WAYS TO ENGAGE CUSTOMERS IN-STORE WITH DIGITAL EXPERIENCES

3 WAYS TO ENGAGE CUSTOMERS IN-STORE WITH DIGITAL EXPERIENCES PART 2 IN-STORE EXPERIENCE CUSTOMER-CENTRIC RETAIL 3 WAYS TO ENGAGE CUSTOMERS IN-STORE WITH DIGITAL EXPERIENCES Offer customers the conveniences and autonomy they enjoy when shopping online. In a world

More information

REIMAGINING ACTIVE RETAIL

REIMAGINING ACTIVE RETAIL REIMAGINING ACTIVE RETAIL Six Strategies That Drive Omnichannel Customer Engagement While Increasing Retailer Profitability Manhattan Active OMNI A CHANGING RETAIL LANDSCAPE ò23% physical Online retailers

More information

BRITISH BUSINESS IN THE DIGITAL AGE

BRITISH BUSINESS IN THE DIGITAL AGE BRITISH BUSINESS IN THE DIGITAL AGE 1 BRITISH BUSINESS IN THE DIGITAL AGE A report into the current and future state of digital commerce in Britain Neil Stewart CEO Salmon The aim of this study is to explore

More information

Digital Insight CGI IT UK Ltd. Digital Customer Experience. Digital Employee Experience

Digital Insight CGI IT UK Ltd. Digital Customer Experience. Digital Employee Experience Digital Insight Digital Customer Experience Digital Employee Experience Digital Insight Internet of Things Payments IP Solutions Cyber Security Cloud 2015 CGI IT UK Ltd. Contents Introduction Business

More information

FLAWLESS FULFILMENT IN THE RETAIL SUPPLY CHAIN

FLAWLESS FULFILMENT IN THE RETAIL SUPPLY CHAIN FLAWLESS FULFILMENT IN THE RETAIL SUPPLY CHAIN How European retailers are evolving their routes to customers to gain competitive advantage and raise satisfaction levels Survey conducted by IDG Zebra Technologies

More information

Smarter Marketing Assessment

Smarter Marketing Assessment Smarter Marketing Assessment Assess how your organisation is performing in the five areas of smarter marketing and determine how you can improve. SMS How smart is your marketing strategy? The relationship

More information

Mobile Marketing. This means you need to change your strategy for marketing to those people, or risk losing them to your competition.

Mobile Marketing. This means you need to change your strategy for marketing to those people, or risk losing them to your competition. Mobile Marketing Introduction Mobile marketing is one of the fastest growing segments of online marketing. Over the last two to three years, the number of people who access the internet on mobile devices

More information

2016 CPG & Pharma packaging trends

2016 CPG & Pharma packaging trends 2016 CPG & Pharma packaging trends Packaging, the key communication element of your integrated marketing strategy, is changing. Learn the most important 2016 trends regarding big data, marketing efficiency,

More information

Beyond Mobile: State of digital commerce 2017

Beyond Mobile: State of digital commerce 2017 Beyond Mobile: 2017 Page 1 Since 2012, we at Episerver have been monitoring the state of mobile commerce in an annual report, creating an industry benchmark of how mobile devices are impacting the retail

More information

IoT Redefines Brand Experience and Customer Engagement

IoT Redefines Brand Experience and Customer Engagement IoT Redefines Brand Experience and Customer Engagement Abstract Gartner, Inc. forecasts that the number of connected things in use will reach 25 billion 2 by 2020. The Internet of Things (IoT), with its

More information

INCREASE SHOPPER LOYALTY AND IMPROVE SALES: RETAILERS AND MANUFACTURERS COLLABORATE FOR SUCCESS AT RETAIL WITH INMAR INSTORE

INCREASE SHOPPER LOYALTY AND IMPROVE SALES: RETAILERS AND MANUFACTURERS COLLABORATE FOR SUCCESS AT RETAIL WITH INMAR INSTORE INCREASE SHOPPER LOYALTY AND IMPROVE SALES: RETAILERS AND MANUFACTURERS COLLABORATE FOR SUCCESS AT RETAIL WITH INMAR INSTORE Rob Small Senior Director, Supply Chain Why a shopper experience monitoring

More information

THE STATE OF OMNICHANNEL COMMERCE: A Mystery Shopping Study

THE STATE OF OMNICHANNEL COMMERCE: A Mystery Shopping Study THE STATE OF OMNICHANNEL COMMERCE: A Mystery Shopping Study INTRODUCTION It s been years since retailers first grabbed hold of the idea of omnichannel retailing and fulfillment. Moving from multichannel

More information

INTRODUCTION HIGH OPERATIONAL COSTS INEFFICIENT MANAGEMENT UNDERSTANDING THE CUSTOMER STORE AMBIENCE INEFFECTIVE MARKETING TOOLS INVENTORY LOSS

INTRODUCTION HIGH OPERATIONAL COSTS INEFFICIENT MANAGEMENT UNDERSTANDING THE CUSTOMER STORE AMBIENCE INEFFECTIVE MARKETING TOOLS INVENTORY LOSS SMARTSPHERES RETAIL SMARTSPHERES RETAIL INTRODUCTION Approaching a retail establishment as an ecosystem is vital for achieving the balance between low operational cost and high customer satisfaction. Iamus

More information

Retail Direction. The State Of Retail Adoption Of Connectivity, Cloud, And Mobile To Meet Consumers New Requirements. October 2013

Retail Direction. The State Of Retail Adoption Of Connectivity, Cloud, And Mobile To Meet Consumers New Requirements. October 2013 A Forrester Consulting Thought Leadership Paper Commissioned By AT&T The State Of Retail Adoption Of Connectivity, Cloud, And Mobile To Meet Consumers New Requirements October 2013 Table Of Contents An

More information

Changing trends in multichannel shopping and browsing preferences. October 2013

Changing trends in multichannel shopping and browsing preferences. October 2013 Changing trends in multichannel shopping and browsing preferences October 2013 Page 1 Overview Since June 2010, edigitalresearch and Portaltech Reply have been tracking the changes in multichannel shopping

More information

The State of Retail Business Intelligence

The State of Retail Business Intelligence Still Struggling After All these Years: The State of Retail Business Intelligence The results companion piece to the Gatepoint Research Survey, Leveraging BI for Inventory Management, commissioned by Aptos,

More information

CRITICAL COMPONENTS TO ACHIEVING THE PERFECT ORDER

CRITICAL COMPONENTS TO ACHIEVING THE PERFECT ORDER CRITICAL COMPONENTS TO ACHIEVING THE PERFECT ORDER Critical Components to Achieving the Perfect Order Read Time: 10 minutes CRITICAL COMPONENTS TO ACHIEVING THE PERFECT ORDER Businesses must constantly

More information

White Paper CPG manufacturing in the digital age

White Paper CPG manufacturing in the digital age CPG manufacturing in the digital age Consumer Packaged Goods March 2018 How CPG manufacturers are evolving to meet new expectations Need laundry detergent? Order online for next-day or even same-day delivery.

More information

Omni-Channel Retailing And its impact on your retail value chain

Omni-Channel Retailing And its impact on your retail value chain White Paper Omni-Channel Retailing And its impact on your retail value chain Omni-Channel Retailing And its impact on your retail value chain Introduction The retail environment has seen a multitude of

More information

Guide Superfast Broadband technology and the manufacturing sector

Guide Superfast Broadband technology and the manufacturing sector Guide Superfast Broadband technology and the manufacturing sector 0345 600 3936 www.sfbcornwall.co.uk Contents Introduction... 3 UK manufacturing remains a huge sector... 3 Superfast Broadband is a game-changer...

More information

Emerging Trends Program China Summary

Emerging Trends Program China Summary Emerging Trends Program China Summary June 5 th 2013 Christian Requena, Accenture, Shanghai Christian.Requena@accenture.com 1 Agenda Topic Emerging trends program introduction Key survey finding Implications

More information

MOBILE FIRST MENTALITY TURNING BROWSERS INTO BUYERS

MOBILE FIRST MENTALITY TURNING BROWSERS INTO BUYERS THE BEST EVENT TO MEET WITH THE RIGHT PEERS WITHIN MY INDUSTRY. MOBILE SHOPPING DELIVERS SOLUTIONS, INNOVATION AND IDEAS THAT SIMPLY CAN T BE MISSED PHILIP WARD, HEAD OF EXPERIENCE AND DEVELOPMENT, CARPHONE

More information