Consumer Analytics

Even in a digital age, consumers still enjoy shopping in stores — if the shopping experience meets their expectations. One of the biggest turnoffs: long lines.    That’s according to a new study from payments company Adyen, which revealed when a “preferred” shopping experience is implemented — whether it be changing how someone checks out or how they interact with sales associates — 63% of people claim they will shop more.  

New product introduction volume continues to increase. Lilly Pulitzer’s analytics platform helps hone in on the winners.   In an omnichannel world, customer satisfaction is key, which means merchandise must be available when shoppers want it. By extending its partnership with First Insight, Lilly Pulitzer will continue to use predictive analytics to make faster and more accurate design, buying and pricing decisions, and gain the insight needed to mitigate risks associated with new product introductions.  

Mobile ads and solid user growth across its suite of apps contributed to a strong first quarter for Facebook.   For the quarter ended March 31, revenue rose 49% to $8.03 billion, from $5.38 billion in the same period a year earlier. This surpassed analyst predictions of $7.83 billion. Based on this quarter’s earnings, Facebook has exceeded analyst expectations for eight straight quarters.   

Despite retailer efforts to deliver information, store employees still struggle to access the information needed to complete tasks. In fact, 75% of decision makers said their employees frequently ask about procedures that are documented, and 73% indicated that critical information is scattered across many disparate locations.

Fraudsters are giving retailers another issue to contend with — and many aren’t prepared.    In 2017, there was a 200% increase in credit card testing, a tactic used by fraudsters where they test stolen credit card numbers with small incremental purchases before making large-dollar purchases on the card. This was an increase compared to the same quarter in 2016, according to new data from Radial.   

Companies are adopting more solutions to gain a 360-degree view of each customer.   While 88% of companies believe their investments help their organization understand customer needs, only 61% of consumers agree — a gap that is costing retailers $62 billion a year, according to research from Talend. The provider of cloud and big data integration software surveyed 361 IT leaders and 1,094 consumers in the United States, the U.K., France, and Germany.   

More retailers are putting mobile devices into their associates’ hands.   Momentum is so strong that within three years, 89% of retailers will give their associates access to mobile solutions, according to “The Mobile World of Retail,” a report from Boston Retail Partners. BRP surveyed the top North American retailers to explore the current state of how mobile technology is shaping retail capabilities, priorities and processes.   

Poshmark is expanding its one-to-one shopping experience.   With the launch of Posh Dressing Room, the retailer is connecting buyers with a personal “Seller Stylist,” a move that fosters the experience of shopping in a physical boutique. The service makes online shopping easier and more customized for consumers, and enables its sellers to expand their online boutiques, according to Poshmark.  

Harnessing customer-specific data is paramount for RueLaLa to engage shoppers and foster long-term customer relationships.  

Williams Company Southeast has announced plans to break ground on what it claims will be the biggest to be built in Central Florida for years.   Vineland Point, a 447,500-sq.-ft. project developed by O’Connor Capital Partners on I-4 and Daryl Carter Parkway in Orlando exceeds the size of The Crosslands, another O’Connor project constructed by Williams that opened in Kissimmee in 2015.