Predictive Analytics

The National Retail Federation “Big Show” is always a good barometer of what trends will influence the retail technology landscape for the coming year, and the just-completed 2015 edition was no exception. Based on the buzz on the show floor and at keynotes and sessions, 2015 should be an eventful and possibly transformative year in retail IT.

Here are five technology trends that really stood out.

Inventory Gets Smart

Belmont, Mass. – To ensure coupon redemption, retailers may want to take a mobile approach. A recent study of retailers using CodeBroker mobile marketing solutions showed CodeBroker mobile coupons, ranging from in-app to on-demand offers, resulted in redemption rates as high as 50%.

The study also showed that multi-channel promotions are highly effective in increasing redemption rates, while on-demand offers, in which consumers request a coupon, have the highest average rate. Other key findings include:

Deerfield, Ill. - Roundy’s Inc. has selected Market6’s retailer/supplier collaboration software platform, Market6 Foundation, to deliver a new vendor collaboration portal for Roundy’s enterprise-wide merchandising team and consumer goods supplier community.  Roundy’s needed a simpler, more efficient way to exchange information and work with its suppliers on a daily basis around shared high-value business processes, such as executing promotions, managing inventory, driving new item introductions, and reducing out-of-stock items.

Retailers at NRF’s Big Show are hearing a lot about “machine learning.” But what is it and how does it help retailers grow sales?

Machine learning, in which supercomputers learn from mining masses of data on the cloud without human intervention, unlocks insights into consumer demand.

Retailers interested in fine-tuning their digital pricing strategies may want to look at a new index called the Price Perception Index.

The index, created by e-commerce startup Bommerang Commerce, measures how retailers optimize prices to attract buyers, compete with other retailers and build their business on a mix of profit margins and volume.

The first Price Perception Index looks at the complex competition between Amazon.com and Walmart.com.

The ability to create an integrated and personalized user experience across all channels is the promise of a new omnichannel grocery solution from Grid Dynamics.

With the supermarket world evolving rapidly and shoppers demanding increased integration between physical and digital, Grid Dynamics released its Omnichannel Grocery Platform as an extension of the SAP hybris ecosystem of solutions. Citing statistics from BI Intelligence, Grid Dynamics said 3.3% of current U.S. grocery spending is online and that figure is projected to increase to 20% by 2018.

GOODLETTSVILLE, Tenn. — Dollar General is still fighting to acquire Family Dollar, the retailer stated on Thursday, noting that it is in ongoing discussions with the Federal Trade Commission. "The FTC has reached no final conclusion regarding the number of divestitures that would be required by a Dollar General/Family Dollar combination," Dollar General stated. "Dollar General has also had discussions with various potential buyers who have expressed interest in acquiring stores that may be required to be divested."

New York -- In today's data-filled world, many retailers are missing some of the most basic — and important — metrics of all: store data and conversion rates. Join this Chain Store Age Webinar on Jan. 29, 2 p.m. (EST), and learn how the insights gained from this data can give companies an edge in today's hypercompetive, omnichannel retail environment.

Overshadowed by Target’s bombshell announcement to exit Canada, the retailer said U.S. sales – and profits – were much better than expected during the holidays.

The favorable combination of increased traffic and stronger than expected digital sales enabled the company to produce a 3% same store sales increase during November and December versus an earlier forecast which called for 2% growth.

New York – Even when retailers achieve compliance with the Payment Card Industry (PCI) Data Security Standard, they often fail to maintain it. According to the upcoming 2015 PCI Report from Verizon Enterprise Solutions, fewer than one-third of retailers studied were still PCI-compliant less than one year after being validated.