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
Sun Tzu famously said, “Know your enemy and know yourself and never fear the result of a hundred battles.” Competition mapping is the starting point to accurately develop a comprehensive expansion strategy for a retail business. Competitor analysis also known as competition mapping is the strategic process of analyzing and evaluating your competitors’ strengths, weaknesses,
When walking down a street you might have noticed how some locations seem to have higher than usual activity. This location might be a tourist attraction, a fast-food restaurant, or even a corporate headquarters. These are locations that can represented by their geographic coordinates and represent a location of value to myriad people. But what
