The Next Generation Retail Summit brings together senior level decision makers from across American retail, offering an opportunity to meet with international solution providers who can help them achieve their goals.
“A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be.” (Wayne Gretzky, hockey legend) This famous quote is as applicable to hockey as it is to retail, where it is important to play where the customer is going to be. In an industry that is capital intensive, planning for today means you are already several steps behind.
What’s the real value of the customer voice? A Bazaarvoice Whitepaper
Everyone from category managers, sales persons and merchandisers to strategic decision makers will have all the facts available and easily accessible in drillable data visualizations, with no answer more than three mouse-clicks away. Information once hidden or delayed becomes immediate and actionable. Salient enables your managers to: Rationalize Promotions; Optimize SKU Mix; Eliminate Sales Gaps; Optimize Price Points; Maximize Profit per Square Foot; Pay for Performance
For Richie Morgan, President of Holiday Quality Foods, Salient became a tool that allowed him and his team to slice and dice data in a way that was highly efficient and fast – as well as easy to use and understand. Salient’s system is used in different ways throughout Holiday Quality Foods’ organization, from the president to buyers to store management.
Office supplies giant OfficeMax, like many retailers in 2009, faced significant challenges. Consumers were hardly spending – they bought only what they absolutely needed, and often held out for dramatic discounts. And when it came to stocking merchandise, OfficeMax was uncertain about what and how much to order. After reviewing a total of 13 database products, OfficeMax selected the ParAccel Analytic Database (PADB).
Consumers today have unprecedented access to information – including price comparisons, advice, expert opinions and peer reviews – about products and services they are considering for purchase. Once limited to media such as newspapers, magazines, radio, TV and phone directories, growing numbers of shoppers and diners now seek input through websites, email, blog posts, text messages, tweets and more. In response, many retailers and restaurants offer their customers the opportunity to interact and transact through the additional channels that have emerged in the digital age. An NCR Whitepaper
The holiday season marks the most lucrative time of the year for retailers. It is no wonder that marketers allocate a large chunk of their budget dollars and efforts to this critical time. At the same time, consumers are often overwhelmed by marketing messages and have a difficult time wading through their inbox and mailbox. To break through the holiday clutter and reach consumers in the right touch points at the ideal time, marketers need to focus on data and customer intelligence as well as findings from past holiday seasons to guide their upcoming campaigns.
Welcome to the new normal... a world where shoppers behave differently than expected, and retailers who want to thrive amidst a sea change of economics and shopper behavior need to rapidly adapt... or perish.
Product data is a powerful commodity. But its power is only truly unleashed when it is delivered in a way that compels consumers to respond, whether “downstream” in places such as web sites and in-store kiosks, or “upstream,” where it can be combined with information about consumer behavior for a unique form of predictive selling.
By Mark Fodor – CEO of CrossView
Source: www.ngrsummit.com
