Better Utilizing Real-Time Data

As we have noted before (see, for example, 1, 2, 3), many retailers are becoming more involved with retail analytics and big data. But, are they doing enough?
Consider these observations by Ray Hartjen, reporting for RetailNext:
“The best in retail has never been about retail, but rather about shoppers, and a critical first step in retail’s reinvention is an alignment around shoppers, not channels. Have you ever asked a bunch of shoppers what ‘omnichannel’ means? I have, and believe me, no one outside of the retail industry talks in terms of channels. Rather, to shoppers, it’s called ‘shopping,’ and it’s the singular experience on which consumers decide the select few brands that rise to the status of ‘retailer of choice.’”
“RetailNext recently commissioned a study from Forrester Consulting, and the findings revealed a stubborn and persistent gap in perceptions and expectations between shoppers and retailers. The infographic below highlights some of the findings of the study, and the insights suggest retailers would be better off aligning around shoppers and their new shopping journeys, and not around the myriad of traditional channels.”



This entry was posted in Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Technology in Retailing and tagged , , , , , , , , , , , . Bookmark the permalink.

2 Responses to Better Utilizing Real-Time Data

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