Data & Analytics

As the retail industry settles into 2017, CIOs industry-wide are dusting off their To-Do lists, and creating a game-plan on how to implement this year’s top priorities.   While these projects will run the gamut, retail is facing an inflection point — one that is influenced by new, “smarter” solutions that will not only change the trajectory of how businesses operate, but how chains will communicate with employees and customers.   

As the new year gets underway, it’s time to look forward to the changes and trends 2017 will bring. For retailers, that includes some new consumer behaviors in addition to the always-expected technological advances.   While change might seem overwhelming, it can also provide fresh opportunities for sales. And with a little planning, retailers can stay ahead of competition to meet the demands of their customers.    To help guide you into the new year, here are a few of our 2017 retail predictions.

Despite disappointing results from some retailers, overall holiday sales are shaping up to be in line with industry projections.  

Ollie's Bargain Outlet Holdings raised its full-year outlook after shoppers flocked to its stores in search of its signature “good stuff cheap” during the holiday season.   For the nine-week period ended December 31, 2016, Ollie’s total sales increased 16.3%, with a same-store sales increase of 1.9%. The discounter said it now expects full-year net sales to total about $888 million, ahead of the FactSet consensus of $874 million. It expects same-store sales growth of about 3% and per-share earnings of about 93 cents.

A go-to brand for shoppers on-the-go, WH Smith Travel is improving the in-store experience.    The chain will add the Aptos Store point-of-sale solution at WH Smith’s Travel locations. The platform, which features modernized, flexible POS technology, is designed to maximize associate productivity and improve the customer experience across the chain’s more than 900 locations in Europe.   

Albertsons is helping expand online grocery purchases to low-income individuals nationwide.   The United States Department of Agriculture (USDA) has selected Albertsons Companies to participate in the online purchasing pilot for Supplemental Nutrition Assistance Program (SNAP) — a service targeting low-income households.   

Neiman Marcus Group is not going public anytime soon.    In a filing on Friday, the luxury department store retailer said it would withdraw its initial public offering, having determined "that it is not in its best interests" to proceed with the initial public offering at the current time.     

Online spending, and the amount of purchases made after the standard shipping deadline, were on the rise this holiday season.  

Going undercover isn’t easy. But it can definitely be worth the effort. Just ask Sharon Price John, president and CEO of Build-A-Bear Workshop.   

Millennials grab most of the attention from brand marketers, but baby boomers still have greater disposable income and far more purchasing clout.