Sound Familiar?
- “How do we understand our customers' behaviour at every point of their buying journey?”
- “We understand the benefits brought by technology, but how do we pay for it and who will implement the improvements?”
- "It's an increasing challenge for us to stay on top of new advances in business processes but we know we'll fall behind if we don't embrace it”.
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Read our blog: How Retailers Can Get the Most Out of Data and Analytics
Analytics in Retail
Today’s consumers have very high expectations.
In an area challenged by slim profit margins, decreasing customer loyalty and high costs, retailers are continuously looking for ways to improve their businesses by measuring performance against goals.
The UK’s imminent exit from the European Union adds further complexity to the mix. The retail sector faces a perfect storm: how can retailers balance change and increasing costs whilst still embracing opportunities? It has been said that remaining customer-centric, more than ever before, is essential to stay ahead.*
It’s no secret that digital is transforming the physical retail landscape. Offline and online environments are morphing to create the best possible customer experience. Masses of customer data is available to retails. The secret is to sift through the noise and find the golden nuggets. These nuggets will drive decisions on what to sell, where to sell and how to price it.
This approach will require investment in the right technology and will ultimately transform the way your business operates.
*https://www.pwc.co.uk/industries/retail-consumer/insights/total-retail-2017.html#report
