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Sophisticated retailers know precision retailing as an analytics-driven approach for improving product assortments, pricing, and promotions. Now, new tools are making possible the analysis of an even greater wealth of data - not just point of sale (POS) and stock keeping units (SKU) data, but also information on demographics, competitors, and even potential customers. The result - enriched merchandising insights - can mean a bigger boost in customer conversion and profitability in the store and across multiple channels.
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