Retail is going through unprecedented revolution – how will you transform your business at the scale, depth and pace that success now demands?
How will retail survive the shopping revolution?
Retailers are under pressure to remain competitive. One answer is to be found in their data. Analyzing customers’ buying behavior to predict next purchase can help retailers stay relevant and drive loyalty.
Retailers have access to data, but the challenge lies in transforming it into value. Only 11% of retailers are confident they can drive actionable insights from their data. Retail DnA aims to reduce these challenges and help close the customer insights gap.
Making capital decisions in an omnichannel world
Shopping has never been easier for consumers. For executives behind the scenes, however, digital advances have created complexity. It takes an omnichannel approach to meet consumer demands, requiring companies to retool their strategies and operating models in areas such as marketing, merchandising, store operations and IT. But what are the implications for the CFO? With multiple new capital requirements, the CFO is faced with a unique set of challenges to manage the internal competition for CapEx amid the migration from historically recognized investments.
Buy loyalty? Build loyalty
It’s never been a better time to be a consumer, but with the balance of power tipping, it’s a challenge for retailers. With choice in abundance, customers are fickle and demanding, and loyalty is scarce.Retailers are having to rethink how they keep their customers coming back for more. Transactional based promotions and discounts are no longer enough, building a more two-way relationship is becoming critical.
Retail has been revolutionised by a globalised consumer, quantum leaps in supply chain and technology, growing threats from global digital players and aggressive, low-cost entrants. But the relentless pace of change without guarantee of return has left many Australian retailers paralysed by indecision. Big and small alike face the same questions: What will the ‘store’ of the future look like? And, how can I build it to meet ever-changing customer expectations while not breaking the bank?
Now that India shops online, how do you turn growth into profit?
In India, the e-commerce revolution has become a reality. With billions in daily sales and staggering discounts, online shopping is making headlines and attracting both consumers and retailers. Traditional offline retailers are also going digital.
Americas retail report: Redefining loyalty for retail
American consumers have more shopping choices than ever before. They have access to more diverse retailers (physical and virtual), more brands (national and store brands) and more information to validate every decision. The result is that loyalty to a retailer or brand is being eroded. It is rarely a monogamous relationship anymore.