As we have seen predominately in the last few years, data drives everything.
One of the biggest upsides for companies that have slowly switched to digital avenues after years of purely physical selling is the wealth of data and analytics that come with digital solutions
This week is all about the effect digitalization has had on the retail industry and how data is the key to perfecting the customer experience.
THIS WEEK’S HIGHLIGHTS
- From Clicks to Bricks: Three trends driving the future of retail.
2023 Forecast: US retail sales expected to grow 2.9% this year. -
Q1 2023 Benchmark Report: Click HERE to see how your store compares to the industry average
FOOT TRAFFIC INDEX
FOOT TRAFFIC TRENDS
Industry insights so you can convert your foot traffic into more sales.
Data takes the wheel
In the most recent white paper by RIS News, Customer Experience in Retail Data: Drives Everything, they dive deep into data from retailers across the country to see the driving forces in customer experiences.
82% of retailers from the recent survey name improved customer experience as their highest business priority for the year ahead, with increased revenues coming in a distant second at 43%. With people going out less frequently than before, making every customer experience as seamless as possible has become essential.
In particular, 63% of companies added curbside pickup and other changes in how they deliver products to customers, with more than half (57%) expecting to continue the new curbside pickup and home delivery services once the pandemic has passed.
Another factor that contributes to great customer experience is the ability to harvest large volumes of data that can inform business decisions aimed at increasing profits, improving customer loyalty, and expanding market share.
Click HERE to download the full white paper on customer experience.
5G meets the sales floor
Although a wireless network doesn’t seem to have much to do with the world of retail, it has the potential to perfect the custom journey and boost your sales.
5G is expected to be a powerful catalyst to disrupt retail operations, from optimizing warehouses and supply chain management to transforming the in-store customer experience through personalization and product engagement.
Due to the speed of 5G, the adoption rate has already proved to be higher than expected. A recent Verizon Look Forwardstudy found that more than 1/5 adults say they expect to use more self-checkout and contactless payment in a year than they already use.
5G also gives the possibility of a life without internet issues at work, with many phone providers offering business plans so your team can stay online no matter where they are.
Retail Snippets
From Clicks to Bricks: Three trends driving the future of retail.
2023 Forecast: US retail sales expected to grow 2.9% this year.
Superfakes: The new breed of knockoffs that are so good, even experts can’t tell them apart.
Random Irrelevance
New Beginnings: Scientists say they’ve found a site that marks a new chapter in Earth’s history.
Michelin Guide: Atlanta becomes ninth Michelin Guide destination in North America.
Instant Supplement: GNC piloting drone delivery service in select U.S. markets.
The post Retail Traffic Trends #136: Data takes the wheel appeared first on Doorcounts Retail Sales Cloud.
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