Retail Sales Analytics

Retail sales are estimated to reach over 4.95 trillion by the end of 2016, according to eMarketer.But without an effective use of retail marketing analytics, few businesses can prove how marketing campaigns contribute to their company’s slice of sales pie.

Retail sales analytics. Attrition of new joiners has decreased substantially, and sales are up by 5 percent.” Across sectors, analytics and technology can improve store productivity by 10 to 20 percent. Specifically, people analytics is a catalyst that will help retailers transform their talent pipeline. Analyze Your Sales Data with Compass’s Retail Sales Analytics! Run the right sales promotions, learn lost sales, forecast sales, improve operational efficiencies and so much more. Drive sales with a data-driven decision-making. Request For Demo Learn more Trade promotions consume more than 20 percent of organizational revenue for the consumer-facing business. Yet, most of the […] For smaller retailers, combining these insights with predictive analytics can reveal new potential sales, display emerging trends, or even give an idea of new products prospective customers may want. By incorporating retail analytics into predictive models, you can more readily foresee customers’ needs and encourage shoppers to come back for. Denave’s retail analytics service leverages expertise in data science and advanced analytics to achieve an integrated view of all retail engines. It makes identification of growth drivers, prevention of loss of sales, footfall forecasting, efficient customer engagement model, merchandising and promotion effectiveness mapping – all a reality!

Retail sales analytics for alcohol brands. Alcohol analytics that empower frontline sales teams and managers — identify opportunities to improve distribution, sales, and profitability. Explore Platform Retail analytics is the process of providing analytical data on inventory levels, supply chain movement, consumer demand, sales, etc. that are crucial for making marketing, and procurement decisions. The analytics on demand and supply data can be used for maintaining procurement level and also for taking marketing decisions. Retail Sales for France from French National Institute of Statistics and Economic studies (insee) for the Retail Sales release. This page provides forecast and historical data, charts, statistics, news and updates for France Retail Sales. Predictive retail analytics utilizes past data to predict future possibilities, for example, making sales forecast, predicting market trends, consumer behavior changes and more. This helps retailers make data-driven futuristic decisions and always stay ahead of the competition. Below are the top use cases of retail predictive analytics. These.

This paves way for decision-makers to employ predictive analytics to derive the best value of all the data gathered and ensure better sales outcomes in the near future. Predictive analytics is a proactive approach, whereby retailers can use data from the past to predict expected sales growth, due to change in consumer behaviours and/or market. Use retail analytics to dig into historical data There are a lot of life adages and quotes about learning from your past, and the same thing can be said about retail. Looking at your previous sales and inventory data can surface valuable insights and action steps that you can implement today and in the future. What can you expect from retail analytics? When something encompasses production through sales, its possibilities seem almost endless. Right now, though, the big uses for retail analytics center on optimizing procurement, optimizing merchandising, and optimizing marketing. Optimizing procurement. One of the key places that retail analytics. WHY Kx FOR RETAIL ANALYTICS? From inventory management and forecasting to point-of-sales analytics and recommendations the volume and velocity of data that must be processed poses an immense challenge for retail companies. Kx solutions are world-renowned for our ultra-fast speed and extreme performance.

How to Use Retail Analytics to Win Sales: 3 Real-Life Examples By: Agnes Teh Stubbs on August 17, 2018 Any small retailer in the business of selling knows that attracting new customers, retaining existing ones and selling more are crucial to achieving the holy grail of business—long-term profitability. sales by 5%. cVS, which uses analytics to target coupons at the point of sale, views its analytical capability as a nine-figure profit center. Hudson’s Bay corp. in canada traced a 2-to-1 return to its database management and analytical efforts, and broke up a $26. Retail Analytics. As seen in the table above, our descriptive analytics model managed to explain approximately 86% of the variation in sales. In other words, we identified four factors that significantly impact the sales performance of each retail outlet. For big retail players all over the world, data analytics is applied more these days at all stages of the retail process – taking track of popular products that are emerging, doing forecasts of sales and future demand via predictive simulation, optimizing placements of products and offers through heat-mapping of customers and many others.

Case example: Through geospatial analytics, a global specialty retailer identified a number of markets in which there was a large gap between actual and potential sales, and in which the company had a wholesale footprint and strong online sales but no owned stores. In each of these markets, the retailer opened one or more full-price stores and. More than just a People Counter, the Kepler Retail Sales Improvement System is increasing sales in over 3,000 locations in over 10 countries +1-855-735-3307 Email Let’s take a closer look at the advantages that retail data analysis can provide for SMB retailers. 1. Actually Get to Know Your Customers. Dish the Fish is a fish stall in Singapore that uses Vend’s cloud-based POS and retail management platform to track sales and inventory.. Prior to using the platform, Jeffrey Tan, the stall’s owner, used to order a lot of ikan kuning (a type of fish. RETAIL ANALYTICS. Big Data brings big challenges for retailers,. Compiling and storing terabytes of information on products, sales, prices, promotions, consumer is a challenge. Extracting the golden insights that will enable retailers to understand the current, latent and future behaviour of consumers in real time is quite another.

Retail analytics focuses on providing insights related to sales, inventory, customers, and other important aspects crucial for merchants’ decision-making process. The discipline encompasses several granular fields to create a broad picture of a retail business’ health, and sales alongside overall areas for improvement and reinforcement.