ANALYZE CONSUMER PATTERNS AND OPTIMIZE RETAIL STRATEGIES
The retail market has been a central focus of the world’s economy for decades and in an increasingly globalized world, retail is still a backbone of the economy. However, it is no longer the same, invariable process of supplying to meet demand. The economics of retail are becoming more complex by the day; changing consumer demands, unstable and perpetually fluctuating markets and constrictive profit margins are quickly imposing new restrictions and constraints on the market. However, by analyzing large-scale patterns and taking advantage of advanced retail business intelligence software like datapine, these constantly changing patterns can be better understood and utilized to improve business models and ensure stable profits.
"datapine gives us all the insights we need in a compact space. Thanks to datapine we are able to review all relevant customer data and react on trends and opportunities much faster."
INCREASE PROFITS WITH RETAIL ANALYTICS
Relying on intuition is no longer enough for success in the retail industry. Increase profits by utilizing mobile technology and large-scale retail data analytics on the fly.
Become a data wizard within less than 1 hour!
Using retail analytics is a way to increase merchandising intelligence by better assessing your stocks and assortments, tracking consumer behaviors or identifying some missed opportunities. This will optimize your sales by location planning, which can lead to strategic sales initiatives development. The evaluation of the impact of sales promotion enables you to effectively forecast what could occur in the market. Consequently, you have a better control over the merchandise stocks.
Retail analytics gives you the ability to connect with customers in real-time and will decrease unnecessary expenditures. At the same time, it can increase profit margin spreads and provide a better consumer experience from start to finish. Managing retail, consumer, merchandising and demographic data in real-time guarantees higher levels of productivity thanks to a more equitably shared workload, but also less missed sales opportunities.