In the retail industry, market cannibalization happens when a new product reduces sales of an existing product from the same company, resulting in a decrease in overall profit and revenue. This frequently happens when too comparable items are introduced, or when the same customer base is targeted, leading to internal competition instead of drawing in […]
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
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%
In today’s competitive business landscape, choosing the right business location for your venture is crucial for success. Whether you are planning to open a new retail store, expand your business, or establish a manufacturing plant, a well-informed site selection process is essential. This blog aims to guide you through the process of refining your site
In the rapidly evolving landscape of the retail industry, staying ahead of the competition is no longer just about having an appealing storefront or offering attractive discounts. Today, data has become the new currency, and smart retailers are harnessing the power of data analytics to gain valuable insights into consumer behavior, optimise operations, and boost
One powerful tool that has emerged is location intelligence, which harnesses the wealth of data generated by connected devices and utilizes it to fuel predictive artificial intelligence (AI) algorithms. By bridging the gap between location data and predictive AI, businesses can unlock a plethora of opportunities to optimize operations, enhance customer experiences, and drive informed
