Analytics

Key performance indicators (KPIs) are important to any print catalog or digital marketing business. Knowing how often and which KPI to track can make a huge difference to your profit and loss (P&L) statement. You need to separate the “nice to know” from the “need to know” information. Tracking nonessential KPIs might make you feel…

How prescriptive analytics optimizes retail operations now and in the future

As vaccine distribution moves us closer to a post-pandemic life, businesses are still navigating the economic uncertainty. Retail leaders understand that consumer buying patterns have changed in ways that are likely to persist once the virus is under control. Retailers know they’ll need to adapt to stay a step ahead of competitors and increase profits…

COVID-19 has wrought many changes in society. For retailers, perhaps the most important is the massive shift to online purchases of just about everything. On the one hand, online retailers of all kinds are facing more competition from newcomers which previously concentrated on in-store sales. With more e-commerce sites to compete against — especially, of…

In a rapidly changing retail environment, there's one seemingly obvious constant. A positive experience, whether with a brand, product, service or an employee, forms the foundation of meaningful customer engagement and drives sales. The imperative, therefore, is for companies in all industries to figure out how to create experiences that reflect exactly what their customers…

A crisis forces a change like no other. If retail enterprise debates centered around IT budget in pre-pandemic times, now it’s unequivocally for swift digitalization from customer point of sales (POS) to supply chain. The retail sector has learned some hard lessons from today’s uncertain business climate. However, some enterprises are ahead in their game…

Consumption and shopping behaviors have changed dramatically, leaving retailers with a challenging and dynamic planning process ahead — months after the start of the pandemic. Further complicating things, historical data is losing relevance, and it’s unclear which new behaviors will stick. Retailers must now juggle hundreds of constantly changing variables and answer questions like: With…

Many organizations believe they have an adequate understanding of how they're perceived in the competitive landscape because they have anecdotal evidence from talking to their customers or loosely collected data in-market. Others deprioritize brand awareness efforts because they don’t fully grasp the potential benefits. In reality, operating without understanding how the market truly perceives you across major customer touchpoints is like trying to cross an ocean without navigation tools.

Consumer behavior trends that were once predictable are now in flux as we begin 2021, leaving retailers in need of tools and resources to help navigate these unexpected shifts in habits — e.g., who is buying, when and what they buy, and how much they will spend. With this in mind, retailers are looking to…

The COVID-19 pandemic, and resulting store closures, drastically changed how retailers operate and interact with shoppers. Now, social distancing and phased re-openings around the globe are having continual impacts on consumer behavior. To navigate the ongoing upheaval, retailers need to supplement historical data with fresh insights, allowing them to better strategize with near real-time decision…