Predictive Analytics

It has been a long haul, but radio frequency identification (RFID) is finally making its bones in retail.   In 2014, 34% of retailers either implemented or were in the process of adding or piloting RFID. Fast-forward to 2016, and those results have doubled to 73%, according to the “Kurt Salmon RFID in Retail Study 2016.”  

Retailers know that personalization equates to higher sales, but companies still struggle with execution.    Specifically, retailers are eager to offer personalized experiences to achieve higher sales. Failing to remove unintended barriers are only overwhelming shoppers, who then abandon shopping carts.  

Digital infrastructures are growing more complex, and taking a toll on decision-making.   Eighty percent (80%) of IT operations leaders reported that end-user experience monitoring (EUM) is very important or critical to delivering business outcomes. However, as distributed infrastructures grow in complexity, it is becoming more difficult to provide information needed to make business decisions, according to a study by analyst and consulting firm Enterprise Management Associates (EMA).  

Yet another holiday forecast brings more good cheer to retailers.   Consumers plan to spend an average of $636 on holiday-related expenses, up 3% from what they anticipated last year, according to The NPD Group’s 2016 Holiday Purchase Intentions Survey. They are also less concerned this year about the economy spoiling their holiday fun. When asked how the state of the economy will influence holiday purchases in 2016, the 12% who said it will have a “significant impact” is down from recent years (14% in 2015, 19% in 2014).

Online shoppers that prioritize convenience for security could begin feeling the fallout.  

Intelligent lighting can help improve back-of-the-house retail operations

While a lot of emphasis is placed on optimizing the front-of-the-house retail experience, improving back-of-the-house operations can also help retailers better meet customers’ evolving expectations — and intelligent lighting systems may be the key to improving those operations.

IoT promises to deliver coveted seamless shopping experience, enterprise-wide visibility

To remain relevant in an omnichannel retailing world, brands must evolve operations to satisfy the way people shop. Armed with the Internet of Things (IoT), retailers position themselves to leverage the necessary operations to engage digitally savvy customers in an ever-changing business landscape.

Move over Black Friday.   The biggest shopping day in terms of holiday sales is expected to be Friday, Dec. 23, while the biggest day in terms of store traffic is expected to be Saturday, Dec. 17, according to RetailNext Inc. (See lists at end of story.) It’s the first time in many years that Black Friday failed to top either of the lists.    

Two major retail organizations delivered some early holiday cheer to retailers.   The National Retail Federation and the International Council of Shopping Centers issued their annual holiday forecasts on Tuesday, and both predicted holiday shoppers will spend more this year than they did last year.   

The signs of fall are definitely upon us. The weather is finally dropping into the 70s on the east coast. Summer’s green leaves are slowly transitioning to rich autumn hues. You can’t escape “Pumpkin Spice.” And of course, the biggest sign of fall: Halloween pop-up stores.