Predictive Analytics

Softness in larger product categories and unseasonal weather in the Northeast dampened MarineMax’s third quarter earnings.    For the third quarter ended June 30, MarineMax’s revenues declined to $329.8 million from $345.6 million for the same period last year. This missed Wall Street’s expectations of $383.01 million.  

The nation's largest retailer is working on technology to enable store associates to respond more quickly to potential customer service issues.   The chain is developing facial recognition technology to detect frustrated or unhappy shoppers, according to a report by Business Insider. The technology uses video cameras at checkout lines that monitor customers' facial expressions and movements to identify varying levels of dissatisfaction, according to a patent filing, the report said.   

Businesses are eager to better serve their clients, but most lack the skills, processes and technology needed to leverage data effectively.   In fact, 61% of U.S. companies agree that inaccurate data is undermining their ability to provide an excellent customer experience, according to “Investing in Digital Transformation: The Year’s Most Sought-After Data Roles,” a report from Experian Data Quality.  

West Elm is upping the ante on how it recommends merchandise to customers.    The company, a division of Williams-Sonoma, introduced a new online tool that utilizes artificial intelligence (AI) to detect customers’ style patterns and connect them with products they can buy at West Elm stores and online. Called the Pinterest Style Finder, the tool is powered by Clarifai’s image and video recognition AI technology.  

Pizza Hut is making big moves to improve the accuracy and reliability of its delivery experience.   The subsidiary of Yum! Brands plans to hire nearly 3,000 new drivers a month through the end of the year. The hiring effort, which will include full and part-time positions, will add approximately 14,000 new drivers across its delivery fleet, according to the company.   

  Retailers who frustrate consumers risk brand abandonment.    Almost half of North American and European consumers surveyed by the Chief Marketing Officer (CMO) Council say they will abandon a brand if they continuously encounter a poor, impersonal or frustrating customer experience across channels of engagement. The study was undertaken in partnership with SAP Hybris.   

Digitally-savvy customers will be contributing to a high volume of holiday traffic — and they have high expectations for retailers.    Seventy-six percent of U.S. consumers expect their interactions with a brand to be easy, according to “The Holiday in July 2017 Holiday Retail Outlook” report from Alliance Data  This will be a mantra this holiday season, regardless of the channel shoppers use to connect with their favorite retailers.  

The brand best known for its smiling pink whale logo is improving pricing, design and buying decisions by using an innovative data source.   By partnering with First Insight, Vineyard Vines will leverage the company’s online social engagement tools to gather real-time product pricing and sentiment data from its customers. This information will then be analyzed by First Insight’s predictive models.   

Amazon's third annual shopping event was a success in the eyes of consumers this year, according to InfoScout and Market Track’s survey of shoppers on Prime Day.