Predictive Analytics

Online pricing intelligence provider 360pi compared Amazon.com and Walmart.com prices earlier this year in a dynamic pricing study and discovered Walmart changed its prices more often than Amazon.

The company looked at Amazon.com and Walmart.com prices comparing a basket of grocery pantry/household items spanning a number of CPG brands with a non-grocery basket (such as toys, electronics and tools) shopped on Amazon.com and Walmart.com between April 9 and June 9, 2015.

Three key finding from the report were:

In the ongoing battle for market share, brands pour over metrics and tweak strategies to increase customer loyalty. The stakes are high, customer acquisition costs are expensive and most businesses can’t afford to lose sales to competitors. With prices commoditized in many industries, today’s battleground is centered squarely on customer experiences.

North York, Canada - Leon’s Furniture has launched a newly upgraded e-commerce site featuring a fully responsive design, using technology and development services from Blueport Commerce. The new Leon’s website features design and functionality improvements including JavaScript technology to improve homepage, product detail page and shopping cart speed.

Naples, Fla. – Retailers often may not have the tools they need to effectively fight omnichannel fraud. More than half (54%) of retailers in the U.S. and Europe still have to consolidate their fraud management solutions across all channels, according to new research conducted by Forrester Consulting for ACI Worldwide.
 

New York - Lack of a single customer view, an inability to deal with large amounts of data and lack of time for optimization are among the challenges that cause the biggest headaches for modern marketers. According to new research published by Econsultancy in partnership with SmartFocus, among the pain points marketers face are the challenges of making customer data actionable, bottlenecks caused by IT and web development teams and lack of time for campaign testing and optimization.

The report identifies the following key challenges:

The recent admission by Mickey Drexler to making “mistakes” while explaining the results of two J.Crew sweaters – one successful, one not – shined a bright light on the importance of each new product decision and the consequences of getting it wrong. In the grand scheme of things, one or two bad decisions do not always make or break a company. But when you string multiple bad decisions together, the stakes are much higher.

San Jose, Calif. – Digital technology stands ready to significantly disrupt retail and many other industries, yet many companies are not showing concern.  

Minneapolis – Furniture retailer Room & Board has aligned its online and in-store customer experience with Salesforce Marketing Cloud’s predictive digital marketing capabilities. Room & Board has improved the customer experience and delivered more relevant information, which in turn has increased the average order value by 16% and delivered a 2,900% ROI payback during a two-month period.

This has resulted in a significant increase in online sales and improved loyalty.