In the retail industry, whether it’s online shopping or offline, customers expect a smooth and hassle-free shopping experience. With the increased use and access to the internet, e-commerce has gained more attention than ever today. Retailers are now facing the challenge of bridging the gap between online and offline experiences. Customers expect the same service on both platforms irrespective of how different they are in nature. Data analytics is a powerful tool which will help retailers in achieving this goal.
Data analytics is transforming the retail industry by bridging the gap between online and offline shopping experiences. Here’s how:
1. Data analytics can integrate the data generated from online and offline channels in minutes. By analyzing customer activities like purchase history, browsing patterns, and demographic details, retailers can divide customers into various portfolios. These insights make it easy to analyze and gain an overview of customer behavior patterns, preferences and trends. This provides a complete view of the customer and allows retailers to design personalized shopping experiences.
2. Omni channel retailing provides customers with a smooth shopping experience across various channels, which includes website, mobile app and physical store experiences. Data analytics helps retailers to deliver smooth Omni channel experiences by having the same inventory, pricing and promotions across all channels. Also, retailers can use data analytics to track inventory in real-time and make sure that products are available for purchase both online and in stores because sometimes, customers tend to compare product nature and quality in both online and offline before making the purchase. Retailers can also use data analytics to personalize promotions and offers based on a customer’s preferences and shopping history based on their past data.
3. With online and offline platforms, retailers have to plan inventory and forecast demand well in advance but there are so many factors which can affect these decisions. Predictive analytics helps retailers by analyzing past sales data, market trends, and external factors like weather patterns and adjust inventory levels accordingly. This helps in tracking the products and reducing out of stock and overstock situations. Predictive analytics can help retailers identify and compare which products are performing well online versus in-store, and accordingly plan resources more effectively.
4. Retailers can use data analytics tools to send out personalized messages, promotions and offers to customers based on their preferences and purchase history. This will help retailers in improving customer engagement. Using data analytics, customer feedback can be collected from all the platforms and analyzed by retailers to identify the scope for improvement and increase the overall shopping experience.
CRG Solutions delivers Intelligent Digital Workforce solutions to help our customers innovate, automate and standardize their business processes to ensure superior customer experience and improved process efficiencies.
Recent Posts
Need fresh ideas? Here’s how to avoid groupthink
Need fresh ideas? Here’s how to avoid groupthink By Dominic Price November 12, 2018 What they say about following the leader is true: if that’s your game, you’ll always be a step behind. With competitors multiplying like fruit flies on last...
Server vs. Data Center – What’s right for you?
Server vs. Data Center – What’s right for you? By Maggie Roney , Product Marketer November 16, 2018 Many teams choose Atlassian Server products because they want or need control over their data and infrastructure. But did you know that Atlassian offers...
HOW JIRA CORE GETS THE GROOVE IN EMAIL MARKETING PROCESSES
HOW JIRA CORE GETS THE GROOVE IN EMAIL MARKETING PROCESSES Email has stood the test of time. While new technologies pop up every day, 91% of consumers check their email at least once a day and report it as their...
Leave a Comments
You must be logged in to post a comment.