Data & Analytics

Wading through retail technological innovations and deciding what options and applications should be top priority can be daunting at best. But the opportunities clearly outweigh the challenges, said Epicor Solutions’ Douglas Taylor in an interview with Chain Store Age.

What are the biggest operational challenges facing retailers today?

The term “cloud computing” generally means anything that involves delivering hosted computing services over the Internet. Here, the word “cloud” is used to refer to the Internet, most frequently depicted in diagrams as a cloud.

Retailers are always looking for new ways to reach customers, and the race to get onto Facebook walls and news feeds to increase brand exposure has never been greater.

But instead of shelling out dollars to pay for traditional Facebook ads and online banners, many companies are allowing shoppers to do the grunt work for them in an organic way. One of the latest trends is combining social sharing with gift giving, so consumers can send presents — from gift cards to apparel — to others via Facebook.

Macys.com has made a name for itself by analyzing consumer data to gain insight into its loyal shopper base. The retailer, which features more than 60,000 products online and leverages multiple digital channels to share product information cross-channel, has armed itself with a set of internal cloud-based, high-performance analytics tools designed to improve customer segmentation, market-basket analysis and real-time personalization cross-channel, based on a broader scope of product attributes.

Economic uncertainty throughout Europe and the United States and political instability in the Middle East are putting an increased spotlight on developing markets, which are forging full-speed ahead and show no signs of slowing down, according to the 11th annual Global Retail Development Index by consulting firm A.T. Kearney.

As it celebrates its 50th anniversary this year, Wal-Mart Stores is being recognized for many achievements, not the least of which is its leadership in sustainability. On the green front, the chain has become a leader in best practices, with innovations that deliver positive results for consumers, communities and the company’s bottom line.

Editor’s note: No one could have predicted that a colossus was in the making when the very first Wal-Mart opened its doors on July 2, 1962, in Rogers, Ark. Billed as the area’s first “quality discount center,” the store promised name brands and 22 departments, from jewelry and hobbies to ladies’ wear and shoes.

By Andrew Wren, Wren Solutions

It’s no secret in the loss prevention industry that sweethearting, the practice of giving customers unauthorized discounts or free merchandise or services, is a major source of loss in retail. In fact, it has long been recognized as the most common type of employee theft and the largest contributor to loss in the industry. It is also a unique challenge to loss prevention efforts. Unlike other forms of employee theft, both the customer and the employee are aware of sweethearting.

Union, N.J. -- Bed Bath & Beyond Inc. reported Thursday that net income rose 14.5% to $206.8 million, compared with $180.6 million in the year-ago period.

Revenue increased 5.1% to $2.22 billion from the year-earlier quarter, missing Wall Street’s projected $2.25 billion in revenue. Same-store sales rose 3%.

Menomonee Falls, Wis. -- Kohl’s Department Stores is strengthening its commitment to renewable energy, by increasing its solar program by nearly 25% in 2012, installing solar panels at approximately 30 additional Kohl’s locations.