Predictive Analytics

How good is your data?

Seventy-five percent of retailers believe inaccurate data is undermining their ability to provide an excellent customer experience, according to a study by Experian Data Quality.

Consumer interest in wearables is booming for reasons that retailers should find encouraging.
 
New research from Mintel reveals that the U.S. wearable technology market is experiencing unprecedented growth, with estimated sales increasing 186% from 2014-2015, reaching $7 billion in 2015.
 
And despite just one in 10 consumers owning a fitness tracker (12%) or smartwatch (7%), 16% of consumers said they planned to purchase a fitness tracker or smartwatch in the final three months of 2015.
 

Consumer interest in wearables is booming for reasons that retailers should find encouraging.

New research from Mintel reveals that the U.S. wearable technology market is experiencing unprecedented growth, with estimated sales increasing 186% from 2014-2015, reaching $7 billion in 2015.

And despite just one in 10 consumers owning a fitness tracker (12%) or smartwatch (7%), 16% of consumers said they planned to purchase a fitness tracker or smartwatch in the final three months of 2015.

Retailers understand that loyal customers are the most profitable shoppers. While these consumers make buying decisions that are increasingly influenced by online channels, the vast majority of retail business in the United States is conducted in the physical store, and this isn’t changing with the Millennial generation.

E-commerce retailers might think new customers acquired during the holiday season are a gift, but they many not keep on giving.

Abandoned carts get plenty of attention. Retailers run reports on lost revenue from abandons. Email campaigns start hitting customers as soon as an hour after they abandon. A day later, another email comes.

Targeting cart abandoners is definitely effective. Statistics show that as much as 25% of lost revenue can be regained via abandoned cart emails. But what if you didn't lose that revenue in the first place?

We'll never live in a zero abandonment world. But we can definitely limit the chances of abandonment.

Abandoned carts get plenty of attention. Retailers run reports on lost revenue from abandons. Email campaigns start hitting customers as soon as an hour after they abandon. A day later, another email comes.

Targeting cart abandoners is definitely effective. Statistics show that as much as 25% of lost revenue can be regained via abandoned cart emails. But what if you didn't lose that revenue in the first place?

We'll never live in a zero abandonment world. But we can definitely limit the chances of abandonment.

Modell’s Sporting Goods is playing to win when it comes to network security.

Operating more than 150 stores throughout the East Coast, New York-based Modell’s is protecting customer data and personal information residing within its infrastructure. Modell’s us using a software-based network security solution from Cyphort to actively monitor and detect suspicious activity.

The National Retail Federation confirmed what many retailers already knew and made a downward revision to a holiday forecast that initially called for 3.7% growth.
 
Citing what it called “unforeseen events,” the National Retail Federation (NRF) said sales during November and December increased 3% to $626 billion, down from an earlier forecast which envisioned growth of 3.7%.