Data-driven insights can have a very real impact on an organization. In some cases, they can even be used to turn around a business. Sam’s Club, for example, was at a turning point. Would it go the way of Toys ‘R Us and similar giant brick & mortar retailers? Find out how data-driven insights revealed incredible opportunities for the big retailer, and if they were instrumental in the organization’s turnaround.
In a business environment where moving fast and smart are critical competitive advantages, sifting through data to find insights and trends could be the worst thing you can do with your precious time. Actionable data, however, when used correctly, is priceless. Real-time actionable insights, moreover, are precisely what smart organizations are relying on to propel themselves forward.
Data, and specifically the insights uncovered from this data, have been used in the retail sector for a while now shaping decisions around stock strategies, pricing, and customer experience. As the shopping experience moves increasingly and adaptively online, these insights are becoming even more important. Take a look at the power and centrality of insights, and how your organization can harness these insights to boost your business.
New data out of the UK has shown that fashion store closings for 2018 are higher than the previous year, and new store openings have slowed significantly. In the US, notable brands like Sears, Victoria’s Secret and Mattress Firm are also feeling the brick & mortar retail squeeze, as shoppers increasingly choose to buy online. As the competition moves online, brands are having to deal with some tough questions. How are they coping?
Two big names in the world of traditional retail and e-commerce were linked in recent news. Kroger announced a partnership with Chinese internet giant Alibaba, specifically to open an online storefront on Alibaba’s platform for international brands, Tmall Global. This first move into overseas sales is part of grocer’s online retail push. We’ll look at what this means for each company, and for the ecommerce landscape in general – and what can we learn from other organizations in this space?
The new Walmart/Microsoft deal was the most important event in retail last month, consequently stealing the show from Amazon Prime Day. While Amazon started as a tech company and then grew into a hybrid online/brick & mortar store model, Walmart had everything to catch up on when it came to technology, digital transformation, and innovation. Microsoft is the strongest partner to close these gaps and lead the way to Walmart’s ecommerce innovation projects.
There is a lot of data out there, but if it’s not used correctly, it is not really a competitive advantage. Decision making for retailers and CPGs has changed tremendously as the amount of data available and the processing power of computers has increased. We’ll look at the factors contributing to this change, as well as insights into what this means on a practical level and what the future may hold.
The online retail landscape is expanding across borders, with partnerships and acquisitions designed to strategically outmaneuver the competition. One of the areas that has been most active is deliveries, particularly grocery deliveries.
The continuing battle between ecommerce heavyweights Amazon and Walmart has focused primarily on their maneuvering in their home country, the United States. While this campaign continues to rage, this conflict is being played out globally, and the new frontier that pitches these 2 heavyweights against each other is the world’s biggest democracy: India.