Can Predictive Analytics Help Retailers Dodge a J.C. Penney-Style Debacle?
The mass exodus of shoppers from J.C. Penney, prompted by the drastic store changes made by now-ousted CEO Ron Johnson, serves as a cautionary tale of what can happen when retailers don't follow that old saying by fabled retailer Marshall Field, "give the lady what she wants." But that is, of course, easier said than done. What exactly does she want? Retailers are paying closer attention to the tricky art and science of creating a compelling in-store experience that matches shoppers wants and needs.