Analytics
There's no more critical time for businesses to leverage advanced analytics than now. Even as companies cut back on non-essential spending and reassess their priorities, doubling down on analytics in shaping strategic decision making can perhaps yield the greatest return on investment.
Some retailers have said that the buying trends among their U.S. customers since the outbreak of the coronavirus and its resulting COVID-19 spread in North America match those that they saw in China when the crisis started in that country. As such, they're using China as a model to gauge how the current health and…
Shhh! Don’t make any noise. The 800-pound gorilla is distracted. Now is your chance. I’m talking about the fact that Amazon Prime delivery delays are as long as a month now. Now is your opportunity to serve your customers like never before. Now is the time to make up ground and become a digital force.…
Frictionless checkout is rapidly becoming the future of retail, especially with Amazon.com's push to expand its checkout-free “Amazon Go” stores, which leverage digital imaging to redefine the checkout experience. We can expect to see increasingly fewer cashiers, registers and lines as more retailers turn to frictionless checkout to improve efficiency, convenience and satisfaction. While retailers…
Baby boomers are the fastest-growing demographic in the United States, and households aged 55-plus control more than 70 percent of total net wealth. In 20 years, the population aged 55 and over will account for almost one-third of the U.S. population. Unlike millennials, who are often burdened by student debt and the costs of supporting…
There are few industries as well-positioned as retail to use data-driven systems to improve their bottom lines. Retail analysis is flush with sources of data, including information that can be derived from sales, inventory, traffic and marketing. Turning all this information into something useful, however, requires an understanding of where retail data systems fit into…
When it comes to driving digital return on investment from the holiday shopping season, there are things you can’t control, and things you can. One of the things you can’t control is the shorter season this year, which will deprive retailers of six days to capitalize on the gift-giving mood. Another thing that’s out of…
In episode 222 of Total Retail Talks, Executive Editor Joe Keenan interviews Mike Del Pozzo, chief customer officer and senior vice president of sales at Frito-Lay North America, a leading PepsiCo snack foods brand. Listen in as Del Pozzo discusses the history of the 80-year-old brand, its distribution channels, and how shifting consumer behaviors has impacted…
Divide and conquer is not only Caesar’s motto but also a great piece of advice for modern retailers. Once you’ve collected information on your customer base in your CRM system or loyalty program, you need to analyze it. You should reveal everything your data may know about your customers and use those insights to grow…
Powerful computing advances in recent years have enabled retailers to use artificial intelligence (AI) to help them realize their full potential. AI analytics uses machine learning to find differences and make assumptions automatically. A study by Business Insider suggests that as much as 85 percent of customer interactions will be controlled without a human by…