Successfully attracting customers to a retail store is challenging even under the best of circumstances. But add uncertain elements like pressure from competitors, along with a lack of a target audience, and you will have a problem on your hands. However, leveraging data in your business decisions allows you to identify the strategies to increase […]
Retail analytics emerges as a vital asset for organizations of any scale. Its benefits range from determining client preferences and guaranteeing precise inventory management to improving the quality of service. Thus, the importance of investing in capable retail analytics solutions cannot be emphasized, as they act as catalysts for growth and the maintenance of a
Omnichannel analytics is a method to analyze data gathered from various channels of a retail businessstore, like offline and online, to help develop a holistic persona of the customer, and other use cases. In a world where over 66% of the world’s total population is connected to the internet, today’s consumers expect a seamless shopping
India’s retail landscape is undergoing a seismic shift, propelled by artificial intelligence (AI) integration. A recent report released by Deloitte and the Retailers Association of India states that currently, 25% of retailers today employ one form of AI in retail operations while a further 45% of leaders are considering integrating AI solutions in the next
After a challenging year in 2023 marked by low consumer confidence and the confluence of lower online or offline sales, store closures, d2c brand shutting down etc. and constrained discretionary income, retailers faced significant obstacles. As per a by Retailers Association of India (RAI) retail sales in January 2024 saw a modest increase of 5%
“Where to open my retail store?” This question haunts retailers worldwide. Retail expansion requires significant capital investments. Thus, the onus is on the retailer to achieve profitability to pay back the investments. Resulting in retailers adopting strategies to reduce the break-even time. But, this is predicated on the identification of a profitable location. Poor location
