Analytics

3 Common Data Strategy Mistakes Retailers Are Making
April 13, 2023 at 7:50 am

Change and disruption is rife in retail. Gaining and sustaining a competitive advantage means delivering timely and relevant customer experiences at every touchpoint. In fact, 70 percent of consumers spend more with companies that offer fluid, personalized and seamless customer experiences. Yet despite most retailers being data rich, data strategy mistakes are making them insight…

US Retail Sales Fall Slightly in February
March 15, 2023 at 12:56 pm

After a very strong January, U.S. retail sales fell slightly in February, the Department of Commerce reported Wednesday. U.S. retail sales declined .4 percent in February to $698 billion, slightly higher than economists' predictions of a .3 percent drop, according to estimates from the financial solutions firm Refinitiv. However, sales are still 5.4 percent higher…

How Retailers Can Use Video Analytics to Draw Valuable Insights
March 14, 2023 at 2:16 pm

The retail sector has seen dramatic changes in recent years with the rise of online shopping and an isolating pandemic driving an exodus of customers from long-established shared spaces such as malls and movie theaters. Despite less-than-ideal circumstances, many of these trends have challenged traditional brick-and-mortar retailers to rethink how they do business, and some…

5 Ways Data Analytics Can Help Retail CFOs Navigate Headwinds
February 8, 2023 at 12:40 pm

Faced with the highest inflation rates in more than 40 years and macroeconomic uncertainty, retailers urgently need a comprehensive and always up-to-date view of their business. To achieve this, they need in-depth, real-time insights to effectively guide and predict financial performance — and to remain competitive. For chief financial officers, one of the most powerful…

3 Benefits of Machine Learning for Retail
February 7, 2023 at 11:12 am

You already know that data is a gateway for retailers to improve customer experiences and increase sales. Through traditional analysis, we’ve been able to combine a customer’s purchase history with their browser behavior and email open rates to help pinpoint their current preferences and meet their precise future needs. Yet the new wave of buzzwords…

Top 6 Contact Center Analytics to Improve the Customer Experience
January 5, 2023 at 2:05 pm

Contact center analytics are vital to improving the retail customer experience. As data flows in, customer experience leaders are flooded with information that can be hard to understand. For businesses to move forward, there are six essential contact center analytics they must efficiently collect, understand, and use to improve operations and the customer experience. 1.…

Fashion’s Investment in First-Party Data
November 16, 2022 at 4:33 pm

Data analytics has become an essential facet of retailer success. Proper data collection and alignment can offer retailers a number of benefits, such as making their inventory management more efficient, identifying opportunities to cut costs, and even helping them better target and engage with their customers. As tech giants such as Apple and Google announced…

All About Google Analytics 4 — Why Retailers Should Make the Move Sooner Rather Than Later
October 12, 2022 at 1:00 pm

Retail brands have endured a shift — across multiple popular platforms — in the past few years. First, it was Shopify 2.0, an upgrade to the existing Shopify platform. Then, the wave of going headless to maintain flexibility and scalability. Now, Google Analytics will end its current Google Analytics offering and require businesses to migrate…

How Retailers Can Monetize Data
October 4, 2022 at 11:48 am

Few words have been used and overused more than “data.” What emerged from a series of zeros and ones has evolved into a critical pillar of every business. Data drives all aspects of a company, from research, buying behaviors, stock/inventory levels, assortment plan, replenishment, website design, store merchandising, staffing and finance to product lifecycle and…

To Capitalize on Customer Engagement, Retailers Need to Dive Deeper Into Customer Insights
September 6, 2022 at 5:11 pm

The digital landscape is evolving at lightning speed. Retailers are overwhelmed due to the multifaceted nature of their work that requires them to manage multiple digital channels, work with different tools, analyze data, and make faster decisions. The increasing number of Martech solutions makes it even more complex — 9,932 in 2022 compared with 7,040…