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Predictive Analytics

  • RetailNext – Black Friday to be busiest shopping day of 2014

    San Jose, Calif. – Black Friday (Nov. 28) is expected to be the busiest shopping day of 2014. According to data from in-store analytics provider RetailNext, it will be followed in order by four days in December: Dec. 20, 21, 13 and 19.
    For the broader holiday period spanning November and December 2014, RetailNext predicts store traffic will be down 4% from the 2013 holiday period, while sales will be flat to 1% lower, conversions will be up 0.5% and average transaction value will rise 3.5%.

  • comScore: Holiday online spending to rise 16% to $61 billion

    RESTON, Va. — Total online retail spending for the November–December period will reach $61.0 billion, a 16% gain versus year ago, according to comScore’s 2014 holiday forecast.  Spending using desktop computers for that period is expected to reach $53.2 billion, up 14%  year-over-year, which is 4 percentage points higher than last season’s 10-percent growth rate.

    Mobile commerce is predicted to account for $7.9 billion of retail spending, representing 13% of total digital commerce and growing at an annual rate of 25% vs. last season.

  • Study – Best online Black Friday deals on Wed. night

    Milwaukee, W.I. - Most shoppers believe that the best time to shop online for Black Friday deals is on Black Friday itself. However after examining data from the past two years, the staff of Black Friday site GottaDeal.com has determined that the best time to shop online is actually late Wednesday night into early Thursday morning.

  • Word of mouth drives 13% of consumer sales

    Hollywood, Calif. - Online and offline consumer conversations and recommendations account for 13% of consumer sales, on average, which represents $6 trillion in annual consumer spending. In higher price-point categories, word of mouth's impact is almost 20% of sales, according to a new study from the Word of Mouth Marketing Association (WOMMA).

  • The Vitamin Shoppe renews Revionics price optimization

    North Bergen, N.J. – The Vitamin Shoppe has signed a multi-year renewal agreement for Revionics price optimization technology. Three years ago the Vitamin Shoppe implemented the Revionics price optimization platform in an effort to undertake a more strategic, data-driven approach to its pricing strategies and tactics.

  • Online holiday sales to total $61 billion

    Increased use of tablets and smartphone this holiday season will help online sales grow 16% to a record $61 billion, but desktop computers still dominate, according to the online measurement firm comScore.

    The company said online sales during the November and December timeframe would be primarily driven by desktop computers, but noted that mobile devices are growing at a faster rate. Spending using desktop computers is projected to grow 14% to $53.2 billion while mobile commerce is projected to grow 25% to $7.9 billion and account for 13% of total e-commerce sales.

  • Deloitte: Consumer spending dips in October

    New York -- The Deloitte Consumer Spending Index marginally dipped in October after two months of consecutive increases. The Index tracks consumer cash flow as an indicator of future consumer spending.    The Index, which comprises four components--tax burden, initial unemployment claims, real wages and real home prices--decreased to 4.1 in October from 4.4 the prior month.      Highlights of the Index include:   

  • Three Hot Workforce Management Trends from KronosWorks

    As a focus area of retail technology, workforce management may not be quite as sexy as CRM or omnichannel commerce. However, a lot of very exciting stuff is currently happening in the world of workforce management, as attendees of the recent KronosWorks 2014 conference in Las Vegas discovered. Here is a brief summary of three of the hottest current workforce management trends.  

  • Popeyes and APT partner on Test & Learn software

    New York -- Applied Predictive Technologies announced that Popeyes Louisiana Kitchen will license APT's Test & Learn software to test business initiatives such as menu strategies, pricing, and capital investments.  

  • Online retailers miss sales with irrelevant items

    London, U.K. -- Nearly three-quarters of online retailers (74%) miss out on sales by promoting irrelevant items to online shoppers. According to new research from OrderDynamics, as retailers prepare for the crucial holiday shopping season, many could be driving customers away by promoting irrelevant products, failing to build customer relationships through intelligent follow-up, and ignoring consumer preferences on end-to-end order tracking.  
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