Leveraging Existing Business Data to Build Effective and Lucrative Omnichannel Retail Experiences

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Leveraging Existing Business Data to Build Effective and Lucrative Omnichannel Retail Experiences"

Transcription

1 Most retailers have seen the need to create omnichannel customer experiences. Leveraging Existing Business Data to Build Effective and Lucrative Omnichannel Retail Experiences TECHBLOCKS WHITEPAPER

2 Leveraging Existing Business Data to Build Effective and Lucrative Omnichannel Retail Experiences The world of retail has changed: today's customers have more channels than ever to connect with their favorite brands. As the same time, customers are given a greater number of choices and brands they can buy from. Where the inability to provide a consistent, and relevant customer experience could easily result in a dissatisfied frustrated customer and customer loyalty can diminish at the click of a mouse. Unfortunately, in today s marketplace, a single poor experience can not only cost you the loss of potential revenues, but with the power and reach of social media, could potentially cause great harm to your brand. At this point, most retailers have seen the need to create omnichannel customer experiences. However, recognizing a need and filling the gap are not always easily aligned. Many retailers today are still challenged to design and build positive omnichannel experiences. 2 TECHBLOCKS WHITEPAPER

3 The Omnichannel Challenge Retailers have been struggling with fragmented channels and platforms for years. Bricks and mortar retailers maintain separate Internet and mobile platforms that don t share a common view of customers with their physical stores. How could they? After all, online buying behavior and in-store buying behaviour patterns for the same consumer would vary greatly based on their customer experience. Further complicating this situation is the backend fulfillment process: retailers must be able to integrate their omnichannel platform with other systems to ensure they are able to meet customer requirements in a timely manner. The need to manage product availability by channel complicates the inventory management issue that retailers struggle with. Retailers want to keep inventories lean to eliminate costly markdowns, but stock outs cause lost revenue and threaten the customer relationship. How can retailers create the omnichannel customer experience they need to compete in the modern retail environment while also making sure that the initiative is profitable? Read on to learn how. Most interestingly even Amazon, the web pioneer to an online marketplace, recently opened its first store Amazon at Purdue. While it is still unknown how its venture into the physical world will impact Amazon s legendary customer intimacy, most other retail companies are struggling with entering the e-commerce and mobile presence arenas. Unfortunately these late movers are only catching up to the competition now and have lost any competitive advantage, and having an online and mobile channel is almost considered a mandatory for any successful retail company. Product pricing is also more complicated than ever, since consumers can check your competitor s price on mobile devices even while standing in your retail store. Ensuring that pricing is competitive is a complex undertaking that requires knowledge of the buyer s personal data as well as current and future market conditions. Although economists claim that the economy is strong consumers are still slow to spend, making sales and top-line growth elusive. Today, pricing is almost as personalized to the consumer as the product. 3 TECHBLOCKS WHITEPAPER

4 Eliminating Customer Silos As new retail channels such as e-commerce sites and mobile apps were introduced, it was only naturalthat these channels developed into individual silos that treated customers differently than many other channels. To create an onmichannel customer experience, retailers must be able to overcome this natural inclination by removing these individual silos and creating a single holistic retail experience that transcends individual channels. A CRM solution may be helpful in this regard, allowing a retailer to track a customer's different interactions with the brand across different channels. This will allow the company to ensure that each channel interaction is consistent, but unique enough to move the customer forward in the buying cycle. Product pricing is also more complicated than ever, since consumers can check your competitor s price on mobile devices even while standing in your retail store. 4 TECHBLOCKS WHITEPAPER

5 Build Customer Intimacy with Deep Analytics In a world where more business data is available than ever before, the importance of this data when it comes to building an omnichannel retail experience can not be emphasized enough. The truth is that your customers are sending you many different clues about how they prefer to interact with your brand. Whether these clues are subtle (such as a customer's behavior) or more straightforward (such as a post about your brand on social media), business intelligence and data visualization solutions are the key to unlocking valuable insights and using them to support your omnichannel sales efforts. Having the right BI solution in place can help you gain the insight needed to enable successful omnichannel experiences going forward. With abundant amounts of data hitting the system based on interactions across multiple channels retailers must clearly define and plan their KPI s to be successful. Increasing Share of Wallet The result of data-driven customer insights is the ability to present attractive offers and prices on in-stock items likely to be of interest to a specific customer at a specific time and at that specific location. The best way to convince consumers to open their wallets is to reach them with targeted messages and offers designed to appeal to their unique interests and delivered in their preferred format, but aggregating the data from all forms of customer interaction is a difficult feat. Using the data quickly and cost-effectively enough to increase sales is even more of a challenge. One way to approach this is the retail associate might also ask the customer how they liked the last product they purchased, or make suggestions for similar items predicted by next likely purchase algorithms. The trick is to demonstrate customer intimacy without coming cross as predatory or intrusive. 5 TECHBLOCKS WHITEPAPER

6 More Effective Inventory Management With the more complete knowledge of the customer and insight into demand trends and any outside factors that are likely to affect demand, the retailer can also use analytics to ensure that there is sufficient inventory in the right locations to satisfy demands. This enables the company to maximize pricing and to initiate promotions or sales to help balance inventory or to sell stock that they might otherwise be forced to mark down. Price Optimization Fine tuning the merchandise assortment to closely track customer demand helps ensure maximum sales while minimizing markdowns, transfers and also helps ensure pricing leadership while still maximizing profits. The retailer can draw on social media, local market reports and POS data, as well as traditional demographics to refine and even personalize the merchandise at each node in the channel. This proactive approach is in stark contrast to the recent retail climate in which sellers were focused on cost cutting as a way to shore up profitability. In addition to optimizing pricing and minimizing markdowns on excess merchandise, advanced analytics enables the retail company to build more efficient and effective supply chains with the insight provided through predictive analysis of product trends. By sharing this insight with suppliers, the entire supply chain becomes more efficient, helping to hold the line on costs and creating another driver of improved profits. Closing the Inventory Gap Fine tuning the merchandise assortment to closely track customer demand helps ensure maximum sales. Inventory gaps not only result in a loss sale but can also by providing store associates with mobile apps so they can be more efficient and address customer needs more effectively. For example, when a product is not in stock, the associate can locate it in another store or at a distribution center and have it routed to the customer s home quickly to prevent lost sales. 6 TECHBLOCKS WHITEPAPER

7 Integrating online and offline channels For many retailers, the divide between online and offline channels is the most difficult part of creating an omnichannel user experience. However, while online and offline channels are fundamentally different, there's no reason that retailers can't tie them together into an integrated whole. For many retailers, the divide between online and offline channels is the most difficult part of creatingan omnichannel user experience. One way to do this is by arming sales associates in brick-and-mortar stores with mobile apps, in effect making them a living, breathing extension of the online user experience. With their mobile device in hand, they'll be able to find information they need quickly, keeping customers informed about products that the store offers, while also tracking inventory and reporting sales activity in real time. By integrating these sales associates into the online channel like this, retailers can make them more efficient and capable of serving customers better. 7 TECHBLOCKS WHITEPAPER

8 Defining channel roles One misconception about omnichannel is that it means using all channels in the same way. In fact, the opposite is true: different channels have different advantages that make them better suited for different kinds of customer interactions. An omnichannel experience initiative is most likely to be successful when it recognizes these differences and builds off of them appropriately. For instance, many customers prefer to purchase certain products in stores because they feel more comfortable being able to hold the product in their hands before making a purchase. For these customers, just because the sale takes place in a store does not mean that online channels didn't play an important role in the sale. For instance, the customer may have used the e-commerce site to educate themselves or get ideas, before coming to the store to make a purchase. For other customers, retail stores are more useful as an opportunity to showroom: trying out products before buying them through another channel. Most likely, different customers will use different channels in different ways. Each channel must offer a distinct and unique value while still functioning as a cohesive whole in the eyes of the consumer. Retailers must be able to find the data that shows how your customers are using those channels, and make sure the channels are set up to meet their needs, whether they're looking for a showroom, a transaction center, a return center, a source of inspiration, or a source for research. Most importantly retailers must ensure all channels must work together, not only must they have consistent messaging, branding and pricing, they must also have a complete view of the customers to prevent pricing conflict or potentially different fulfillment information. Conclusion For many retailers, a sale is a sale, and the activities and actions leading to that sale is not relevant to the bottom line. However, in the world we live in today, there is no such thing as a sale that takes place in a vacuum. All sales are different, and rely on different channels to progress consumers through the buying cycle. Retailers must develop closer relationships with their customers, and these relationships must span all channels to deliver a single view of a customer. Having this relationship not only improves customer loyalty, it also provides data to increase your customer share of wallet. Applying customer buying behavior data when coupled with other data such as market trends, location and POS data helps ensure the optimum product SKU, inventory and pricing balance for maximum revenue and profitability for the retailer. An omnichannel retail experience recognizes that all channels are set up to support customers however they might choose to use them. In order to be successful, today's retailers must focus on implementing the technologies and strategies that support the customer omnichannel experience. 8 TECHBLOCKS WHITEPAPER

SOLUTION OVERVIEW SAS MERCHANDISE INTELLIGENCE. Make the right decisions through every stage of the merchandise life cycle

SOLUTION OVERVIEW SAS MERCHANDISE INTELLIGENCE. Make the right decisions through every stage of the merchandise life cycle SOLUTION OVERVIEW SAS MERCHANDISE INTELLIGENCE Make the right decisions through every stage of the merchandise life cycle Deliver profitable returns and rewarding customer experiences Challenges Critical

More information

The Power of Omnichannel Personalization

The Power of Omnichannel Personalization 1 The Power of Omnichannel Personalization Introduction The omnichannel consumer has arrived. In addition to websites, people can connect through smartphones, tablets, emails, social networks, and contact

More information

not another omnichannel customer experience whitepaper data convergence paves the way A RETAIL PRO WHITEPAPER www.retailpro.com

not another omnichannel customer experience whitepaper data convergence paves the way A RETAIL PRO WHITEPAPER www.retailpro.com not another omnichannel customer experience whitepaper data convergence paves the way A RETAIL PRO WHITEPAPER contents 03 not another customer experience whitepaper 04 omnichannel =? 05 omnichannel = customer

More information

Buy anywhere, Fulfill anywhere

Buy anywhere, Fulfill anywhere Buy anywhere, Fulfill anywhere Considerations for Omni-Channel Retail Supply Chain David Hogg, Commerce Solutions Leader Europe October 15 th, 2014 1 1 Customer demands are driving supply chain developments

More information

Location Analytics for. Marketing A Knowledge Brief

Location Analytics for. Marketing A Knowledge Brief Location Analytics for Marketing A Knowledge Brief Improving Customer Insight and Intimacy with Location Analytics This use case details how Esri helps companies enhance the performance of marketing campaigns

More information

Maximize Sales and Margins with Comprehensive Customer Analytics

Maximize Sales and Margins with Comprehensive Customer Analytics Q Customer Maximize Sales and Margins with Comprehensive Customer Analytics Struggling to connect the dots between Marketing, Merchandising and Store Ops? With the explosion of customer interaction systems,

More information

Omnichannel Inventory Optimization: Where Are My Products?

Omnichannel Inventory Optimization: Where Are My Products? Going Glocal Executive Summary 1 retail consulting and industry thought leadership Omnichannel Inventory Optimization: Where Are My Products? Where Are My Products? 2 Macy s best customers are those who

More information

Presented In Conjunction With: Feature Sponsor

Presented In Conjunction With: Feature Sponsor Presented In Conjunction With: Feature Sponsor Presented In Conjunction With: The Sale Is The Omni-Channel Retailers have come to realize the channel customers use to make purchases does not matter, because

More information

Big Data Management and Predictive Analytics as-a-service for the Retail Industry

Big Data Management and Predictive Analytics as-a-service for the Retail Industry Big Data Management and Predictive Analytics as-a-service for the Retail Industry Serendio Predictive Analytics for the Retail Industry 2 Executive Summary The biggest and most successful retailers today,

More information

FOODIE CORE. In the heart of your online grocery system. All the tools you need to run modern and cost-efficient grocery operations online

FOODIE CORE. In the heart of your online grocery system. All the tools you need to run modern and cost-efficient grocery operations online FOODIE CORE In the heart of your online grocery system All the tools you need to run modern and cost-efficient grocery operations online BRING YOUR BRAND AND BUSINESS ONLINE Interfaces to retail systems

More information

Top 10 Factors That Will Increase Conversion Rates

Top 10 Factors That Will Increase Conversion Rates Top 10 Factors That Will Increase Conversion Rates Top A 3VR 10 Factors WHITEPAPER That Will Increase Conversion Rates 1 Customer Insights We should be using technology to understand who our customers

More information

BUILDING OMNI-CHANNEL RETAIL FROM THE BACK END UP

BUILDING OMNI-CHANNEL RETAIL FROM THE BACK END UP BUILDING OMNI-CHANNEL RETAIL FROM THE BACK END UP Building Omni-Channel Retail From The Back End Up 2 An average of 50% of retailers plan to increase their commitments to order management, e-commerce,

More information

Guide. Omni-Channel Order Management

Guide. Omni-Channel Order Management Guide Omni-Channel Order Management Omni-Channel Order Management Guide 02 Omni-Channel Order Management Guide The retail industry is undergoing a phenomenal transformation. Technological advances and

More information

ANALYTICS: SHAPING THE RIGHT CUSTOMER EXPERIENCE

ANALYTICS: SHAPING THE RIGHT CUSTOMER EXPERIENCE EMV Technology: Deploying Soon in the U.S. ANALYTICS: SHAPING THE RIGHT CUSTOMER EXPERIENCE 2010 Mercator Advisory Group, Inc. Clock Tower Place, Suite 420 Maynard, MA 01754 phone: 1(781) 419-1700 e-mail:

More information

February 2014. Taking the total retail customer experience to the next level

February 2014. Taking the total retail customer experience to the next level February 2014 Taking the total retail customer experience to the next level Taking the total retail customer experience to the next level The face of retail is changing. While brick-and-mortar stores once

More information

An RIS News Whitepaper

An RIS News Whitepaper An RIS News Whitepaper The Omnichannel PRODUCED BY There is abundant evidence that the shopper preference for buying online and picking up in a store has become part of mainstream retailing. It is a logical

More information

4 Ways Retailers Can Beat the Competition. (With Data They Already Have)

4 Ways Retailers Can Beat the Competition. (With Data They Already Have) 4 Ways Retailers Can Beat the Competition (With Data They Already Have) On the surface, the retail data playing field looks fairly level. From big-box retailers like Walmart to small, independent boutiques,

More information

WHITE PAPER Analytics for digital retail

WHITE PAPER Analytics for digital retail WHITE PAPER Analytics for digital retail Introduction The advent of organized retail propelled businesses to reach out to a wider spectrum of consumers in an effort to increase market share. This gave

More information

for Retail One solution connects retail end-to-end, driving growth and fostering customer relationships.

for Retail One solution connects retail end-to-end, driving growth and fostering customer relationships. Microsoft Dynamics for Retail One solution connects retail end-to-end, driving growth and fostering customer relationships. Our vision is to empower midsized and enterprise retailers with a seamless and

More information

Leveraging Big Social Data

Leveraging Big Social Data Leveraging Big Social Data Leveraging Big Social Data New ways of processing and analyzing Big Data have led to innovations across many industries from software that can diagnose Parkinson s to earthquake

More information

CONSULTING FOR THE MIDDLE MARKET

CONSULTING FOR THE MIDDLE MARKET BUSINESS INSIGHTS Omni-Channel Retailing in Middle Market Part I: Understanding Omni-Channel & its Potential Impacts on the Retailing Industry Brock D. Eckles July 29, 2015 CONSULTING FOR THE MIDDLE MARKET

More information

Enriching In-Store Experience with Analytics

Enriching In-Store Experience with Analytics Enriching In-Store Experience with Analytics Arun Kumar, General Manager & Global Head of Retail Consulting Practice, Wipro Ltd. www.wipro.com Balakrishna Parankusam Venkata, Principal Consultant, Retail

More information

BRIDGING THE OMNICHANNEL DIVIDE

BRIDGING THE OMNICHANNEL DIVIDE BRIDGING THE OMNICHANNEL DIVIDE BRIDGING THE OMNICHANNEL DIVIDE While ecommerce is recognized as one of the most exciting opportunities in the Consumer Packaged Goods industry, poised to make up 5% of

More information

Top 5 Transformative Analytics Applications in Retail

Top 5 Transformative Analytics Applications in Retail Top 5 Transformative Analytics Applications in Retail Learn how you can boost your bottom line and acquire engaged, happy customers with actionable insight from the world s most comprehensive analytics

More information

Customer relationship management MB-104. By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology

Customer relationship management MB-104. By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology Customer relationship management MB-104 By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology University Syllabus UNIT-1 Customer Relationship Management- Introduction

More information

Retail / E-commerce. Turning Big Data (and Little) Into Actionable Intelligence and Customer Profitability. Case Study ebook. Unlocking Profitability.

Retail / E-commerce. Turning Big Data (and Little) Into Actionable Intelligence and Customer Profitability. Case Study ebook. Unlocking Profitability. shop shop shop shop Retail / E-commerce Turning Big Data (and Little) Into Actionable Intelligence and Customer Profitability Part 3 in a series of 5 ebooks on intelligent customer engagement Case Study

More information

DESIGNING AND WHOLESALING

DESIGNING AND WHOLESALING THOUGHT LEADERSHIP REPORT DESIGNING AND WHOLESALING you asked someone to define retailer in the year IF 2000, the answer likely would have included words and phrases such as seller of consumer goods, stores

More information

Magento and Microsoft Dynamics GP: Make the Most of Selling Online

Magento and Microsoft Dynamics GP: Make the Most of Selling Online Magento and Microsoft Dynamics GP: Make the Most of Selling Online Make every interaction count. Every day companies choose to sell online, but they often jump in before developing a well-formed plan.

More information

Bringing Digital into Store, now and in the future

Bringing Digital into Store, now and in the future Bringing Digital into Store, now and in the future Neil Adamson Digital Commerce Lead Accenture Interactive Agenda The now An integrated store The future Recent history: multi/omni-channel Multi-channel

More information

Four distribution strategies for extending ERP to boost business performance

Four distribution strategies for extending ERP to boost business performance Infor ERP Four distribution strategies for extending ERP to boost business performance How to evaluate your best options to fit today s market pressures Table of contents Executive summary... 3 Distribution

More information

Application of Big Data in Retail

Application of Big Data in Retail Application of Big Data in Retail 5Ways Retailers Can Use Big Data Analytics Contents Executive Summary No Dearth of Data Big Data Analytics in Retail: Five Areas to Focus 3 4 5 Personalization ecommerce

More information

Integration of Online and Offline Channels in Retail

Integration of Online and Offline Channels in Retail Integration of Online and Offline Channels in Retail Santiago Gallino, Toni Moreno Tuck School of Business, Kellogg School of Management January 2014 July 2013 LBS London, UK 21 January 2014 Retail Analytics:

More information

Optimizing Inventory in an Omni-channel World

Optimizing Inventory in an Omni-channel World RETAIL PERSPECTIVES: Best Practices for Safety Stock and Replenishment Buying Optimizing Inventory in an Omni-channel World 2 Keys to Profitably Saving the Sale The retail world is abuzz with stories of

More information

Improving The Retail Experience Through Fast Data

Improving The Retail Experience Through Fast Data A Forrester Consulting Thought Leadership Paper Commissioned By TIBCO Software February 2016 Improving The Retail Experience Through Fast Data Overview Customers expect better-individualized experiences

More information

The Operational Implications of Omnichannel Retailing

The Operational Implications of Omnichannel Retailing The Operational Implications of Omnichannel Retailing How Creating a Balanced Retail Strategy Can Increase Basket Size, Grow Conversion Rates, and Reduce Inventory Losses By Edward Westenberg, Bharat Popat,

More information

Rethinking Retail Series:

Rethinking Retail Series: IN Rethinking Retail Series: Reinventing the store shelf edge in the age of omni-channel shopping STORE E SL Product $4.99 Reinventing the store shelf edge in the age of omni-channel shopping The meteoric

More information

Information-Driven Transformation in Retail with the Enterprise Data Hub Accelerator

Information-Driven Transformation in Retail with the Enterprise Data Hub Accelerator Introduction Enterprise Data Hub Accelerator Retail Sector Use Cases Capabilities Information-Driven Transformation in Retail with the Enterprise Data Hub Accelerator Introduction Enterprise Data Hub Accelerator

More information

The Business Case for Investing in Retail Data Analytics

The Business Case for Investing in Retail Data Analytics The Business Case for Investing in Retail Data Analytics Why product manufacturers are investing in POS and inventory analytics solutions Introduction In the latest Shared Data Study from CGT and RIS News

More information

Delivering a Smarter Shopping Experience with Predictive Analytics:

Delivering a Smarter Shopping Experience with Predictive Analytics: IBM Software Business Analytics Retail Delivering a Smarter Shopping Experience with Predictive Analytics: Innovative Retail Strategies Delivering a Smarter Shopping Experience with Predictive Analytics:

More information

BIG DATA: IT MAY BE BIG BUT IS IT SMART?

BIG DATA: IT MAY BE BIG BUT IS IT SMART? BIG DATA: IT MAY BE BIG BUT IS IT SMART? Turning Big Data into winning strategies A GfK Point-of-view Цифровая революция и digital стратегии в бизнесе AMР 27.05.2015 Москва 1 Big Data is complex?#! %&

More information

Customer Relationship Management for Chemicals. Using segmentation as a catalyst to become customer smart

Customer Relationship Management for Chemicals. Using segmentation as a catalyst to become customer smart Customer Relationship Management for Chemicals Using segmentation as a catalyst to become customer smart Building leaner, more cost-effective businesses has become standard industry practice for chemical

More information

Client focused. Results driven. Ciber Retail Solutions

Client focused. Results driven. Ciber Retail Solutions Client focused. Results driven. Ciber Retail Solutions Multi-Channel Retailing Retailers are confronted by a downturn in consumer spending, ever-tighter margins, emerging shopping patterns, empowered consumers

More information

Lead the Retail Revolution.

Lead the Retail Revolution. Lead the Retail Revolution. The retail industry is at the center of a dramatic shift in the way consumers shop and interact with their retailers. After hundreds of years of customers going to the store,

More information

At a recent industry conference, global

At a recent industry conference, global Harnessing Big Data to Improve Customer Service By Marty Tibbitts The goal is to apply analytics methods that move beyond customer satisfaction to nurturing customer loyalty by more deeply understanding

More information

12% An RIS News Whitepaper. of retailers offer mature omnichannel experiences.

12% An RIS News Whitepaper. of retailers offer mature omnichannel experiences. An RIS News Whitepaper Omnichannel Roadmap: Vision Meets Reality It is widely acknowledged that omnichannel is the future of retail. s want to shop anywhere at any time and expect a seamless experience

More information

BUY BIG DATA IN RETAIL

BUY BIG DATA IN RETAIL BUY BIG DATA IN RETAIL Table of contents What is Big Data?... How Data Science creates value in Retail... Best practices for Retail. Case studies... 3 7 11 1. Social listening... 2. Cross-selling... 3.

More information

Mastering Retail Systems of Engagement. Engage your customer like never before

Mastering Retail Systems of Engagement. Engage your customer like never before Mastering Retail Systems of Engagement Engage your customer like never before The Retail Transformation The Equipped Customer Consumers demand to access information anytime, anywhere is posing challenges

More information

OAKLIN INSIGHTS. Successful Omni-Channel Retail

OAKLIN INSIGHTS. Successful Omni-Channel Retail OAKLIN INSIGHTS Successful Omni-Channel Retail SUCCESSFUL OMNI-CHANNEL RETAIL 1 Copyright Oaklin Ltd 2016. All rights reserved. Anyone following trends in the retail industry will be aware that retailers

More information

RETAIL INDUSTRY INSIGHTS. Maximising Inventory Efficiency

RETAIL INDUSTRY INSIGHTS. Maximising Inventory Efficiency RETAIL INDUSTRY INSIGHTS Maximising Inventory Efficiency Retail Operational Excellence There is nothing like a recession to focus the mind on releasing cash by reducing inventory. Kurt Salmon analysis

More information

Bringing Website-like Experience Inside the Stores

Bringing Website-like Experience Inside the Stores www.wipro.com Bringing Website-like Experience Inside the Stores Gaurav Mittal Head, CES (RCTG) - BAS Table of Contents Abstract...3 Current State of Retailers... 4 Intelligent Store Associates Increasing

More information

actionable big data. maximum roi. HOW TO DRIVE OFFLINE RETAIL SALES USING ONLINE MARKETING Building a bridge to overcome the online to offline gap

actionable big data. maximum roi. HOW TO DRIVE OFFLINE RETAIL SALES USING ONLINE MARKETING Building a bridge to overcome the online to offline gap actionable big data. maximum roi. HOW TO DRIVE OFFLINE RETAIL SALES USING ONLINE MARKETING Building a bridge to overcome the online to offline gap Why read this paper? We are inundated with online marketing

More information

Understanding Amazon Price Disruption. 3 Steps. Manufacturers Can Take Today to Restore Marketplace Balance. Courtesy Of:

Understanding Amazon Price Disruption. 3 Steps. Manufacturers Can Take Today to Restore Marketplace Balance. Courtesy Of: Understanding Amazon Price Disruption 3 Steps Manufacturers Can Take Today to Restore Marketplace Balance Courtesy Of: If you are a manufacturer or retailer, the disruption being caused by Amazon.com is

More information

Successful Analytics for Retail Marketers

Successful Analytics for Retail Marketers Successful Analytics for Retail Marketers Best practices for integrating analytics into your marketing strategy In the highly competitive retail marketplace, there is always a need to try and stay one

More information

Ensighten Activate USE CASES. Ensighten Pulse. Ensighten One

Ensighten Activate USE CASES. Ensighten Pulse. Ensighten One USE CASES Ensighten Activate Ensighten One Ensighten Pulse Use Case: On-Site Targeting based on Off-Site Display Ad Deliver relevant content to customers after they viewed or clicked through an Off-Site

More information

The Future of Omni-Channel in the New World of Retail

The Future of Omni-Channel in the New World of Retail The Future of Omni-Channel in the New World of Retail Peter Sheldon, Principal Analyst Forrester Research @peter_sheldon 63% of consumers visit a manufacturers site to find product information 2 ...and

More information

New Software Strategies for Omnichannel Order Fulfillment

New Software Strategies for Omnichannel Order Fulfillment New Software Strategies for Omnichannel Order Fulfillment Presented by: Sponsored by: Greg Cronin & Nyle Morris 2014 MHI Copyright claimed as to audiovisual works of seminar sessions and sound recordings

More information

Capitalizing on the power of big data for retail

Capitalizing on the power of big data for retail IBM Software Big Data Retail Capitalizing on the power of big data for retail Adopt new approaches to keep customers engaged, maintain a competitive edge and maximize profitability 2 Capitalizing on the

More information

2014 Big Data in Retail Study

2014 Big Data in Retail Study 2014 Big Data in Retail Study MARCH 2014 Table of Contents Goals of the Study 3 Summary of Results 3 Study Participants 3 Retailers Biggest Obstacles to Success with Analytics 4 Retail Functions with the

More information

The Economic Benefits of Multi-echelon Inventory Optimization

The Economic Benefits of Multi-echelon Inventory Optimization SOLUTION PERSPECTIVES: Leveraging Multi-echelon Replenishment to Maximize Return on Inventory Investment The Economic Benefits of Multi-echelon Inventory Optimization Lower working capital requirements,

More information

Multi-channel Retailing Goes Mainstream

Multi-channel Retailing Goes Mainstream Multi-channel Retailing Goes Mainstream Ashish Jandial, Patrick Ogawa and Preetha Sekharan Abstract Increasingly, retailers are turning towards multi-channel retailing to grow their market share and present

More information

Delivering the omni-channel experience for global commerce

Delivering the omni-channel experience for global commerce White paper Delivering the omni-channel experience for global commerce Building brands and customer loyalty in the new age of retail Page 2 Introduction Today s consumers are extraordinarily empowered

More information

IBM Commerce by CrossView, Order Management Order management in the cloud. IBM Commerce by CrossView, Order Management 1

IBM Commerce by CrossView, Order Management Order management in the cloud. IBM Commerce by CrossView, Order Management 1 IBM Commerce by CrossView, Order Management Order management in the cloud IBM Commerce by CrossView, Order Management 1 IBM Commerce by CrossView, Order Management is a solution that delivers strategy,

More information

Foreword. info@sonata-software.com. www.sonata-software.com

Foreword. info@sonata-software.com. www.sonata-software.com Foreword Retail industry is currently going through a once-in-a-generation transformation, primarily driven by more evolved shoppers and technological innovations. This has resulted in a structural shift

More information

Retail analytics solutions for the senior retail executive. Welcome to the future of retail.

Retail analytics solutions for the senior retail executive. Welcome to the future of retail. Viewsy Solutions for Executive Management Retail analytics solutions for the senior retail executive. Welcome to the future of retail. Viewsy provides a set of solutions to inform and enable senior retail

More information

The Need is Now: Incorrect or insufficient data about any product means it s instantly out of the running.

The Need is Now: Incorrect or insufficient data about any product means it s instantly out of the running. A CG T W h i t e p a p e r The Need is Now: Meeting Retail Demand for Digital Content Today s retail marketplace is all about the empowered consumer, and much of that power comes from access to information.

More information

STRATEGIES FOR THE FUTURE OF RETAIL IN AN OMNICHANNEL WORLD

STRATEGIES FOR THE FUTURE OF RETAIL IN AN OMNICHANNEL WORLD STRATEGIES FOR THE FUTURE OF RETAIL IN AN OMNICHANNEL WORLD. Digital is changing the way we shop and in return it is changing the way retailers respond to our demands. Like many industries, retailers are

More information

Martec International. Understanding Retail E-Learning Course

Martec International. Understanding Retail E-Learning Course Martec International RST66 Martec International is a leading consulting and training firm specializing in the retail industry. Its client base includes retailers from around the globe, technology suppliers

More information

Retail. Elevate your brand. Elevate your customer experience. Elevate your business.

Retail. Elevate your brand. Elevate your customer experience. Elevate your business. Retail Elevate your brand. Elevate your customer experience. Elevate your business. Your Challenges are Complex. Honeywell Can Help. Today s retailers recognize the need for an effective omni-channel strategy.

More information

The Executive Guide to Agile BPM for Retail. A readiness assessment

The Executive Guide to Agile BPM for Retail. A readiness assessment The Executive Guide to Agile BPM for Retail A readiness assessment Retailers have traditionally organized their operations by sales channels (store, Web and catalog), with supporting business processes

More information

Reduce your markdowns. 7 ways to maintain your margins by aligning supply and demand

Reduce your markdowns. 7 ways to maintain your margins by aligning supply and demand Reduce your markdowns 7 ways to maintain your margins by aligning supply and demand On average, On average, Step off the high-volume, low-price treadmill Browse through any online store or shopping mall

More information

Analytics in an Omni Channel World. Arun Kumar, General Manager & Global Head of Retail Consulting Practice, Wipro Ltd.

Analytics in an Omni Channel World. Arun Kumar, General Manager & Global Head of Retail Consulting Practice, Wipro Ltd. Analytics in an Omni Channel World www.wipro.com Arun Kumar, General Manager & Global Head of Retail Consulting Practice, Wipro Ltd. Table of Contents 03...Extending the Single View of Consumer 04...Extending

More information

STRATEGIES FOR THE FUTURE OF RETAIL IN AN OMNICHANNEL WORLD

STRATEGIES FOR THE FUTURE OF RETAIL IN AN OMNICHANNEL WORLD STRATEGIES FOR THE FUTURE OF RETAIL IN AN OMNICHANNEL WORLD This white paper was first published on Which-50.com on November 16, 2013 Author: Max Ryerson Digital is changing the way we shop and in return

More information

WHITE PAPER: DATA DRIVEN MARKETING DECISIONS IN THE RETAIL INDUSTRY

WHITE PAPER: DATA DRIVEN MARKETING DECISIONS IN THE RETAIL INDUSTRY WHITE PAPER: DATA DRIVEN MARKETING DECISIONS IN THE RETAIL INDUSTRY By: Dan Theirl Rubikloud Technologies Inc. www.rubikloud.com Prepared by: Laura Leslie Neil Laing Tiffany Hsiao SUMMARY: Data-driven

More information

A Strategic Approach to Customer Engagement Optimization. A Verint Systems White Paper

A Strategic Approach to Customer Engagement Optimization. A Verint Systems White Paper A Strategic Approach to Customer Engagement Optimization A Verint Systems White Paper Table of Contents Introduction... 1 What is customer engagement?... 2 Why is customer engagement critical for business

More information

PLANNING FORECASTING & PROCESS OPTIMISATION. Caleb Nicolson General Manager Group Supply Chain

PLANNING FORECASTING & PROCESS OPTIMISATION. Caleb Nicolson General Manager Group Supply Chain PLANNING FORECASTING & PROCESS OPTIMISATION Planning for Future Growth: Scaling the Growth Mountain at Kathmandu Caleb Nicolson General Manager Group Supply Chain Agenda Kathmandu introduction The challenge

More information

[ know me ] A Strategic Approach to Customer Engagement Optimization

[ know me ] A Strategic Approach to Customer Engagement Optimization [ know me ] A Strategic Approach to Customer Engagement Optimization A Verint and KANA White Paper Table of contents Introduction... 1 What is customer engagement?... 2 Why is customer engagement critical

More information

actionable big data. maximum roi. Making Analytics Make Actionable Sense: PART 2

actionable big data. maximum roi. Making Analytics Make Actionable Sense: PART 2 actionable big data. maximum roi. Making Analytics Make Actionable Sense: PART 2 Why read this paper? The Big Data explosion has had a major fallout component: how do I track and measure all this data

More information

Canadian Brands Take the Next Step into Omni-Channel Retail

Canadian Brands Take the Next Step into Omni-Channel Retail Canadian Brands Take the Next Step into Omni-Channel Retail A WBR Digital Whitepaper Presented in Conjunction with OSF Global Services, Magento, and Canada Post Summer 2015 Introduction This paper explores

More information

Monitoring the Online Marketplace

Monitoring the Online Marketplace Market Track s Actionable Insights Monitoring the Online Marketplace Developing a plan to stay on top of fluctuations in products and pricing online Key Questions Do you know how your products are priced

More information

Leverage Insights. Ignite Brand Engagement.

Leverage Insights. Ignite Brand Engagement. Leverage Insights. Ignite Brand Engagement. Connect with Your Customers through Individualized Insights from the Teradata Integrated Marketing Cloud. We power marketing. 86% of Customers Say Relevant Offers

More information

GENERATE REVENUES WITH AN EFFECTIVE PARTS WHOLESALE STRATEGY.

GENERATE REVENUES WITH AN EFFECTIVE PARTS WHOLESALE STRATEGY. GENERATE REVENUES WITH AN EFFECTIVE PARTS WHOLESALE STRATEGY. fueled by challenge. powering success. sm 1,500 dealer programs in 27 markets Parts wholesale has the potential to significantly contribute

More information

Herb Kleinberger Contact: New York University phone: (201)

Herb Kleinberger Contact:   New York University phone: (201) Retail Strategy Marketing GB 2375.30 Spring 2015 Tuesdays, Feb. 10 th May 5 th, 6:00 9:00pm Herb Kleinberger Contact: email: hkleinbe@stern.nyu.edu New York University phone: (201) 304-1004 Stern School

More information

Aptos: Engaging Customers Differently

Aptos: Engaging Customers Differently Aptos Analytics 2 Aptos Analytics Aptos: Engaging Customers Differently To succeed in today s The Aptos retail Yet the Aptos advantage demanding retail suite includes: is about far more than just environments,

More information

ENABLING THE OMNI-CHANNEL CUSTOMER EXPERIENCE: BUY, FULFILL & SERVICE FROM ANYWHERE

ENABLING THE OMNI-CHANNEL CUSTOMER EXPERIENCE: BUY, FULFILL & SERVICE FROM ANYWHERE ENABLING THE OMNI-CHANNEL CUSTOMER EXPERIENCE: BUY, FULFILL & SERVICE FROM ANYWHERE Creating the Optimal Omni-Channel Experience Companies with the strongest omni-channel customer engagement strategies

More information

Harnessing Big Data to Gain Competitive Advantage. A How to for Brick and Mortar Retailers

Harnessing Big Data to Gain Competitive Advantage. A How to for Brick and Mortar Retailers Harnessing Big Data to Gain Competitive Advantage A How to for Brick and Mortar Retailers 1 in 4 shoppers use a mobile device to compare prices while in a store. Retail s Challenge Today s consumers have

More information

Drive Business Further Faster With RetailNext

Drive Business Further Faster With RetailNext Drive Business Further Faster With RetailNext Built especially for retailers, RetailNext is a scalable in-store analytics platform that makes it easy for you to collect, analyze, and visualize data about

More information

Episerver Digital Experience Cloud Omni-Channel Digital Commerce for Dynamics AX

Episerver Digital Experience Cloud Omni-Channel Digital Commerce for Dynamics AX Episerver Digital Experience Cloud Omni-Channel Digital Commerce for Dynamics AX Power closed-loop digital commerce helping retailers sell online faster and more easily Online marketing and digital commerce

More information

The Connected-Consumer

The Connected-Consumer The Connected-Consumer Centric Supply Chain How Business Discovery Unlocks Consumer Insights that Drive Growth A QlikView White Paper August 2012 qlikview.com Table of Contents Executive Summary 3 The

More information

Deliver a Better Digital Customer Experience Through Sonata s Digital Engagement Solutions

Deliver a Better Digital Customer Experience Through Sonata s Digital Engagement Solutions Deliver a Better Digital Customer Experience Through Sonata s Digital Engagement Solutions The World is Going Digital The incredible growth of the internet, the proliferation of mobile devices and the

More information

Improve customer experience with your call center

Improve customer experience with your call center Improve customer experience with your call center 1 Table of Contents Welcome to the Age of the Unloyal Customer Superior Service Is More Difficult Than It Looks Segmented customer touchpoints Who is responsible

More information

The Brains Behind Omnichannel Retailing

The Brains Behind Omnichannel Retailing The Brains Behind Omnichannel Retailing Uncovering the real omnichannel challenges and keys to success. July 18, 2013 2:00 EST / 11:00 PST 1 Today s About Kalio Speakers Today s Speakers Bernardine Wu

More information

Business Process Services. White Paper. Personalizing E-Commerce: Improving Interactivity to Increase Revenues

Business Process Services. White Paper. Personalizing E-Commerce: Improving Interactivity to Increase Revenues Business Process Services White Paper Personalizing E-Commerce: Improving Interactivity to Increase Revenues About the Author Subramaniam MV Subramaniam is a Delivery Manager at Tata Consultancy Services

More information

Click Labs Report: How Retail Leverages Mobile

Click Labs Report: How Retail Leverages Mobile Click Labs Report: How Retail Leverages Mobile Table of Contents: Transforming Retail via Mobile...4 Mobile Apps vs. Mobile-Optimized Websites for Retail...6 How to Leverage Mobile Retail Apps to Increase

More information

Real-Time, Always-on RFID that Delivers a Competitive Advantage for Retailers

Real-Time, Always-on RFID that Delivers a Competitive Advantage for Retailers Real-Time, Always-on RFID that Delivers a Competitive Advantage for Retailers Inventory management with fixed infrastructure RFID readers provides highly-accurate, real-time inventory count and location

More information

White Paper. Cross-channel Marketing: Go Mobile. Go Social.

White Paper. Cross-channel Marketing: Go Mobile. Go Social. Cross-channel Marketing: Go Mobile. Go Social. Cross-channel Marketing: Go Mobile. Go Social. Introduction: Mobile and Social Media and Buying Cross-channel marketing is evolving from the vast number of

More information

Magento and Microsoft Dynamics GP: Make the Most of Selling Online

Magento and Microsoft Dynamics GP: Make the Most of Selling Online Magento and Microsoft Dynamics GP: Make the Most of Selling Online White Paper Brian Lynch Vice President of Enterprise Market Development blynch@nchannel.com Disclaimer 2013 nchannel Incorporated. All

More information

Differentiate Now for Retail Leadership The Omni Channel Customer Experience

Differentiate Now for Retail Leadership The Omni Channel Customer Experience Differentiate Now for Retail Leadership The Omni Channel Customer Experience Singapore October 11 th, 2011 Ivano Ortis Head International, IDC Retail Insights Agenda Industry Trends What is Changed? Omni-channel

More information

Holiday Gift Card Trends 2014: Lessons Learned and How to Drive Sales in 2015 and Beyond

Holiday Gift Card Trends 2014: Lessons Learned and How to Drive Sales in 2015 and Beyond Holiday Gift Card Trends 2014: Lessons Learned and How to Drive Sales in 2015 and Beyond First Data s 2014 U.S. Gift Card Holiday Mystery Shopping Study sent mystery shoppers into approximately 658 stores

More information

Magento and Microsoft Dynamics GP: Make the Most of Selling Online. Co-Fou nder and V P, Sales

Magento and Microsoft Dynamics GP: Make the Most of Selling Online. Co-Fou nder and V P, Sales Magento and Microsoft Dynamics GP: Make the Most of Selling Online W ritten by Jeff Grundey Co-Fou nder and V P, Sales jgrundey@ nch annel.co m Every day companies choose to sell online but, too often,

More information

Multichannel Marketing:

Multichannel Marketing: White Paper Multichannel Marketing: Connecting with Customers Across Channels This document contains Confidential, Proprietary and Trade Secret Information ( Confidential Information ) of Informatica Corporation

More information