Alert Tech recently hired a retail technologist to perform an informal survey of two dozen women between 19 and 33. The goal of this study was to get inside the female buyer’s mind and understand how women shop.
The results were quite telling. After learning about shopping habits and retail preferences, the findings gave retailers a lot of significant data to use in their store.
Here are some of the most compelling findings from the survey.
Technology is always changing the nature of sales and shopping throughout the market. However, even with the popularity of online shopping, it is important to remember that a lot of shoppers still come into stores looking for a better customer service experience. It is crucial to provide our customers with the best service possible whenever they are in our stores. With this in mind, it is important to find tools that help keep our stores up to date and help us create the best shopping experience for our customers.
Read More »5 Retail Apparel Management Software Tools You Need to Know
The CEO has the power to make or break their brand, and often the CEO is leading the charge to redefine what makes their company unique. The values, goals and ideals of the CEO trickle down into every store. Perhaps those most aware of these changes are the employees, who are impacted on a daily basis by the actions of their CEOs.
According to their employees, here are 7 of the best retail CEOs in the fashion industry today, along with their employee approval ratings:
Are you a retailer who is struggling to maintain a profit? Did you know spending in the retail apparel industry has increased the last 3 years? Let’s take a look at your competition and see how they are doing it!
In the history of mankind, has anyone ever been inspired by the words “good enough?” When sales are meeting expectations and staff turnover rates are relatively low, it’s easy for retail managers to get comfortable.
But as we all know, there is always room for improvement!
For example, did you know that 5% of fitting room users abandon their purchase because of a poor experience at the
moment of truth? Maybe they needed another size, and there was nobody there to help them, or perhaps the long lines to try on their apparel purchase put them off entirely.
Think about what a 5% increase in paying customers might look like during an annual performance appraisal! But how do you tap into that pool of lost sales and turn things around?
By using in-store analytics to improve the fitting room experience!
Read More »How to Fix Broken Fitting Rooms with In-Store Analytics
It’s only been two years since Apple unveiled its iBeacon Bluetooth transmitter technology at the 2013 Worldwide Developer’s Conference. However, a number of major companies and brands have already been using beacons to provide their customers with new and exciting location-based services.
So far, most customers and companies haven’t yet figured out how to embrace iBeacon on a wide scale. The technology presents a number of challenges, namely in that customers need to have Bluetooth enabled and have a brand’s app installed in order to receive promotional offers and other location-based services.
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Read More »5 Companies Using iBeacon Technology to Earn More Money
What areas of your store are your customers drawn to? How long do customers spend in each area of your store? How does your store layout, product selection, and staffing affect sales revenue?
Do you know the answers to these questions? If your response is no, do you know how to get the answers?
Two of the potential retail technology solutions you need to investigate are heat map technology and full path analysis.
A heat map will provide you with a detailed understanding of traffic throughout the store. Knowing how customers navigate the store, what products draw attention, which areas tend to be the most frequently visited, and which departments are cross-shopped, can reveal where to focus marketing efforts and design concepts.
When it comes to B2C advertising and marketing, the behavior of your customers is one of the most important factors to consider when your aim is to optimize and improve your sales. Ines Gregoria, Decibal Insight
Full path analysis helps retailers analyze the overall shopping trip by providing a detailed understanding of the customer’s entire experience. This helps determine how each store’s layout, staff interaction, product selection, and pricing affects overall sales.
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Do you offer consumer credit? Has your store recently lost customers after becoming the victim of fraud that caused a drop in consumer trust?
In today’s post you will learn 2 ways that retail analytics can minimize risks like fraud and 3 ways to use them to improve store performance. While many people focus on retail analytics as a tool to evaluate promotions, decide ideal pricing, determine product mix, and optimize store layout, it is also very useful for minimizing risk.
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Read More »5 Ways Retail Analytics Can Improve Store Performance
Working in the retail industry is something that a significant amount of the population will experience. In fact, at any given time, approximately 1 in… Read More »The 5 Retail Apparel Stores People Love to Work For
Have you taken the time recently to analyze your stores performance in a systematic way to see how well you are performing in different areas of operation? Are you failing to meet your retail revenue goals but Not sure where you need to focus your time and attention?
With the help of retail analytics, you can fully understand how multiple variables are affecting your store revenue and make effective modifications that will give your store the performance boost it needs to stay competitive and thrive long-term.
Analyzing your store’s data can provide you with valuable insight as to how well your store is performing and what you can do to boost your bottom line and improve overall performance. Ready to get a basic primer on the most common retail analytics data and why you should gather and use it? Let’s go!
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