Retail’s New Landscape
How to lead with data in the retail space
Retail is going through big changes that are shaking the very foundations of the industry. Changes such as digital commerce has become an important sales and marketing channel, connecting the physical, online, and mobile consumer. Supply chains must now be agile enough to accommodate multiple shopping channels. Lastly, stores are becoming key contributors in the distribution network.
Retailers thriving in this complex new world are responding with agility to 3 major shifts in the retail landscape.
Shift 1: The Empowered Consumer
- Connected, informed and, more empowered than ever, today’s ‘hidden consumers’ use mobile and social media to compare and buy anywhere, anytime.
Shift 2: The Agile Supply Chain
- Omni-channel demands an efficient forward and reverse supply chain, letting retailers ship products within hours of purchase and offer flexible returns.
Shift 3: The Changing Role of the Store
- Even the role of the store is changing. Still the primary sales channel, stores are transforming into customer engagement centers and critical supply chain hubs.
In short, omni-channel retail is now the industry norm.
While omni-channel has side lined some retailers, others have thrived using proactive strategies to get ahead of the next wave of change. Retailers need to use visual analytics to analyse data from multiple sources like POS, CRM and WMS*. They can benefit from complete visibility across channels and locations and give their employees mobile access to critical insight at the point of decision.
Read this e-book to learn how visual analytics help retailers respond to each of the 3 shifts and how to become more connected, data-driven, and empowered.
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