Predictive Analytics

Along with increased sales and profits, the holidays also bring retailers increased strain on their networks. Fortunately, there are a number of steps retailers can take to keep their networks secure, scaled and operational throughout the busy holiday season. Jay Yanko, retail global practice leader for Verizon Enterprise Solutions Group, has advice to keep the holidays networked and bright.

When it comes to security, Yanko said the same rules that apply the rest of the year apply during the holidays.

“The majority of holiday security issues are basic,” said Yanko.

Common industry wisdom holds that by the time the holidays actually come around, merchandising and marketing plans have been in place for several months or more.

Everyone has had the disappointment of being promised something great for the holidays, and then for one reason or another not getting it. Men’s Wearhouse Inc. goes to great lengths to ensure that if a holiday promise is broken, it’s not because of any shortcomings on its end.

The Houston-based, 1,750-plus-store specialty men’s apparel retailer collaborates with supply chain management solutions provider United Parcel Services Inc.

Minneapolis – Target Corp. is doing a little shopping of its own with a new sourcing solution that gives its buyers an online shopping-like experience.

The mass merchandise giant is utilizing RangeMe, a solution that lets suppliers upload their products with supporting information such as a pitch video, pricing and photos.

Between buyer’s remorse, relaxed return policies and the substantial increase in online purchases (which come with an average return rate of 12%-15%), 3.5 billion items are returned to retailers each year. This adds up to around $260 billion of merchandise.

This summer marks the 40th anniversary of “Jaws,” the landmark movie that turned summertime into a season of blockbuster films, made Steven Spielberg a household name and still causes many people to think twice before taking a dip in the ocean.

In honor of the enduring legacy of Capt. Quint, Chief Brody, Hooper and of course Bruce the shark, here are three lessons “Jaws” offers retail analytics professionals.

On the heels of another successful quarter from off-price rival TJX, Ross Stores Inc. also reported a spike in same store sales for the second quarter.

For the second quarter ended Aug. 1, Ross Stores says net earnings rose 8% to $259 million from $240 million the same quarter the prior fiscal year. Sales rose 9% to $2.97 billion from $2.73 billion, with same-store sales up 4%

Cyber security professionals have somewhat resigned themselves to the fact that data breaches are inevitable and placed an emphasis on how to manage a highly fluid situation.

After last year’s large retail data breaches, the industry has doubled-down on efforts to protect customer records. Most retailers now have data breach response teams in place and leaders have called for increased industry collaboration on cybersecurity. However, the threats continue to evolve and effectively managing security incidents requires constant evaluation.

Stamford, Conn. — Even with the increasing influence of digital technology on retail habits, the in-store experience is important in all major purchase decisions, according to a new survey. The new Fourth Annual Major Consumer Purchase Study from Synchrony Financial shows that an overwhelming majority of shoppers buy in person.

At the same time, shoppers continue to carefully research major purchases of $500 or more, including financing options. While 80% of major purchase customers start with online research, most finish the deal inside a store.

St. Petersburg, Fla. – A surprisingly small number of consumers makes or breaks new CPG products. According to a study from personalized digital media company Catalina, less than 1% of consumers drive the vast majority of volume for most new CPG products.