Who is this document for?
This thought leadership article is written for professionals in retail organizations in a variety of verticals who are involved with retail technology solutions, particularly in the area of retail planning. This may include senior executives, information technology, merchants, finance, and more.
What will I learn about?
Retailers have struggled to corner market share, drive brand loyalty, and ultimately increase revenue due to changing consumer purchasing behavior shaped by seemingly limitless choices and information. The emergence of new channels, heightened price and promotion sensitivity as a result of an in-flux economy and the rise of a more tech-savvy demographic have also weighed on profitability.
A shift is beginning to take place as retailers gain access to increasingly granular and more meaningful shopper insights made available through digital commerce and marketing initiatives, customer loyalty programs and transactional data. Customer attributes are more dynamic and qualitative in nature, revealing critical information about a shopper’s lifestyle, aspirations and interests when it comes to purchases – all of which retailers can capture, analyze, combine with more static
store and product attributes and integrate into their end-to-end planning and execution processes.