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Translate Insights Into Tactical Strategic Actions
The Amazon Effect
The retail landscape is undergoing a dramatic transformation, signaling the start of the analytics arms race. The conventional weapons of the past (i.e., syndicated data, targeted loyalty mailings, etc.) are simply not going to be as effective in this new battle against Amazon and new, non-conventional brick-and-mortar formats.
On one side of the spectrum is Amazon, who is everywhere now with a combination of online and physical stores. They have led the rise of e-commerce, creating a disruptive and highly convenient shopping empire by engaging shoppers with personalized experiences like no other retailer can. AmazonFresh was launched to reshape the $800 billion food industry, and was designed to compete with grocers and mass merchants such as Walmart and Target. With their massive loyal Prime customer base, Alexa, drones, Echo and now an employee-free concept store called AmazonGo, it’s nearly impossible to tell where they will move next? With the purchase of Whole Foods, Amazon’s largest acquisition ever, they delivered their most significant threat to the food industry. Amazon will deliver marketing relevancy and personalization integrated with sophisticated pricing and personalization algorithms.
On the other front, the emergence of dollar stores and hard discounters which rely on aggressive pricing strategies has created loyalty through value. These retailers are asking brands to deliver absolute net lowest cost, which is passed to consumers alongside a no-frills retail experiences.
To compete in this new world, it’s more important than ever that retailers adopt a data-first, analytics-centric approach across the board, from supply chain, to store, to online. Until retailers offer a seamless, convenient, and compelling shopping experiences, they will be behind.
Retailbound brings this new foundation to help retailers transform their retail execution through software that powers decision automation, retail localization and vendor collaboration to create efficiencies and great customer experiences in-store and online. Our platform empowers retailers to maximize the value of their data through approved strategic partners, which process hundreds of billions of records of granular transaction, customer, and shipment data to drive revenue profitably.
Talk to us about how Retail Analytics can help your business
Sure, we can create a killer end cap. But retail success today is bigger than displays and promotions. Retailbound’s team of strategists and analysts know what your customers want, where the industry’s going and how to lead the way.
- Measurement: Measure the revenue lift, full store impact, and return on investment for displays, coupons, media and other initiatives
- Merchandising: Optimize product distribution and assortment by evaluating revenue and basket size for any item, brand or attribute
- Promotion Recommendations: Identify the strongest affinities between products by month, time of day and day of week to create most effective bundles.
- Pricing Effectiveness: Measure price elasticity to implement the most effective pricing strategy
New Item Launch
- Easily manage new item launches by tracking distribution, basket, and day-part performance
- Understand how new items affect the category and create substitution away from other items
- Understand shopper behavior to optimize digital experiences
- Set thresholds for removing poorly performing new items
- Quantify lost revenue by zero exceptions and under-performance by store, category, item, and brand
- Identify growth opportunities by location, time, category, or item
- Diagnose key problem areas faster with real-time data
- Improve direct-store-delivery (DSD) operations via seamless data sharing and alerts
- Anticipate out of stocks by accessing sell-in/sell-out data and forecasts analytics