Predictive Analytics

Specialty home furnishings Bed, Bath & Beyond Inc. is expanding its omnichannel credit and CRM offerings with help from marketing and loyalty solutions provider Alliance Data Systems Corp.

Bed Bath & Beyond has signed a new long-term agreement to create a co-brand credit card program. Alliance Data will develop a tailored marketing strategy for the retailer and each of its concepts, utilizing its data-driven lifecycle marketing approach.

Customers know what prompts them to make purchases, but the companies doing the selling may not be aware.

A global, cross-industry study released by technology services provider Mindtree, “Winning in the Age of Personalization,” shows that 78% of consumers indicate that personalized promotions encourage them to buy products and services they have purchased before. Almost as many (74%) say personalized promotions encourage them buy relevant products and services they have never purchased.

While online retailers generally understand that fraud can significantly cut into profits, they may not be aware of its full cost — or the different ways it can impact a business.    A new infographic from fraud and risk management technology provider Kount drives home the boomerang impact fraud has on e-commerce. Called “The 10 Deadly Costs of Fraud” for e-commerce retailers, here is a brief summary of its findings:   

Retailers are fighting to engage customers and keep them from going elsewhere. And smart retail marketers know that nurturing existing customers to increase lifetime value is the fastest, highest-ROI route to near-term revenue growth.

Several factors conspired to produce a drop in net income at Village Super Market Inc. during the third quarter of fiscal 2016, despite a slight bump in sales.

Net income was $5.88 million in the quarter, down 55% from $13.21 million in the third quarter of the previous fiscal year. The prior year period including a net gain from the recovery of insurance receivables related to Superstorm Sandy and a tax benefit a result of a settlement with the New Jersey Division of Taxation.

Retailers are not feeling confident that their pricing strategies are satisfying consumers.
 
A new report on pricing conducted by RSR Research and sponsored by retail consulting and analytics firm Precima, “Pricing 2016: Life Becomes Unmanageable,” reveals retailers are worrying that consumers do not believe they are priced competitively enough.
 

American Apparel is providing store managers with new insight into traffic and conversion so they can better perform staffing.

The specialty apparel chain is deploying StoreForce across all of its 202 stores in 19 countries. The solution allows managers to schedule store associates based on traffic patterns. It also delivers real-time performance metrics such as conversion rates. This allows managers to react to real-time opportunities to drive sales.

Online home furnishings retailer Wayfair Inc. is rolling out an in-house-developed display advertising platform that will deliver tailored messages and collect customer data.

Known as Magellan, the platform was built in-house by Wayfair’s engineering, data science, and marketing teams. Magellan leverages enhanced bidding models that allow the flexibility to continually enhance targeting capabilities over time. This targeting also lets third-party Wayfair Media Solutions users extend the reach of their advertising programs.