• Blending data sets takes traffic insight to a new level

    As the retail landscape adapts to ever-changing consumer behaviour, it’s no surprise that shopper traffic has become a crucial point of reference, one that retailers really can’t afford to miss. In an exclusive article for Retail Bulletin’s Future of Retail report, Amit Patil, Global Leader of Data Innovation Strategies at Tyco Retail Solutions, explains why this is the case, and how leading retailers are forging ahead with data and insight-driven strategies, thereby making strides toward future-proofing their businesses.

    Traffic gives a picture of true demand

    Knowing how many people have come into a store, how long they stayed, and whether they made purchases is the key to understanding the sales opportunities that a retail business generates day-to-day. Sales data only tells part of the story.

    In his article, ….

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  • What can retailers learn from Karneval 2018?

    German Karneval goes by several different names — including Fasching, Fastnacht, and Fassenacht. It’s known throughout the world as a giant festival of fun, based on ancient local traditions. The season starts 52 days before Easter and ends with a week-long celebration before Ash Wednesday consisting of parties, fancy dress parades, balls, banquets and general mayhem.

    The Germans call this ‘the fifth season’, which shows how important Karneval is to large parts of the country. And Karneval is big news beyond Germany too – particularly Switzerland, Austria and Luxembourg — where merry-making and street festivities add colour and excitement to city streets on key dates. So as Karneval 2018 reaches its noisy peak, let’s take a look at the power of tradition in local communities, and how physical retail can engage fully and fruitfully in these important social occasions.

    Join the parade

    German retailers are becoming ….

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  • Les soldes d’hiver and the French art of traffic generation

    The French tradition of holding mega sales throughout January and February — les soldes d’hiver — is a masterclass in traffic generation. The event jazzes up what can often be the gloomiest time of the year, and can give retailers a commercial boost when it’s needed most. Our advice for maximising sales and good sentiment during ‘les soldes’ is to know exactly when the bargain-hunting peaks are coming, and to prepare accordingly.

    In 2018, les soldes run from 10th January to 20th February across France, although dates vary slightly in different parts of the country. Big price reductions are being offered by retailers including Carrefour, Gap, Mango, Gucci, Bon Marché and Lacoste — all of which promote eye-catching campaigns, both online and in store.

    According to Le ….

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  • Why big data is powering today’s retailers

    A solution for optimised business and customer engagement

    ‘Big data’ has quickly evolved from business buzzword to an enterprise essential. Driven by fierce multichannel competition and an increasingly discerning customer base, retailers are harnessing the power of data to stay ahead. From product selection and pricing to customer engagement, inside and outside the store, retail big data is proving an effective tool for driving revenues.

    Modern technology provides ample opportunity for retailers to gather, analyse and react to how shoppers are behaving. The days of broad demographics are gone; replaced by a world in which companies can identify each customer’s needs in granular detail. Today, retail big data has the potential to drive improvements across every area of a business.

    Getting closer to the consumer

    Data analysis enables businesses to optimise their efforts and resources to ….

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  • How are global multichannel shoppers using the store?

    Consumers are becoming less predictable; retailers can no longer rely on traditional behaviour assumptions to optimise their store estate performance.

    The influence of all channels – digital and physical – is shaping how, when and why shoppers use bricks-and-mortar stores to make a purchase. To understand the role of physical retail in a multichannel world, retailers need to understand how online and offline factors impact consumer traffic.

    ShopperTrak’s new trends report offers statistical insight into shopper behaviour across Q1 2017, and our findings reveal a number of interesting patterns:

    1. Consumer confidence is growing

    Despite general global uncertainties caused by political and economic influences, the good news is that consumer confidence continues to grow across the world.

    In India, this ….

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  • How can Australian retailers attract more traffic to their stores?

    Australia’s retailers should develop new approaches to engaging their customers if they want their stores to remain busy, suggests ShopperTrak’s Adam Ioakim in an interview with The Sydney Morning Herald.

    At first glance, the outlook for Australian retail might appear bleak; due to the late onset of winter, shopper footfall in 2016 was down on the previous year, and so far this year, traffic is already down -4.4% on a Year-on-Year basis. Factor in the collapse of a slew of high-profile retailers, forced out of business by rising costs and international competition, and it’s clear that Australia’s retailers might need to rethink how they are doing business.

    Adam, ShopperTrak’s general manager for ANZ and South East Asia, says that although today’s shoppers are more cautious, and are increasingly opting to buy through multiple channels as well as in-store, there are real opportunities for Australia’s retailers. Although online sales ….

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