Category
Business
Assisted Conversion
Trend cluster
Category
Insightful
Retail
Retailers leverage big data to make informed business decisions.
3.7
Trend score
Trend
What is the Insightful Retail trend?
Insightful Retail: As the gap between the physical and digital continues to narrow, retailers are turning to big data to make decisions concerning brick-and-mortar stores. Platforms that synthesize consumers' behavior online and on their mobile devices offer unique insight that can translate into the physical realm, allowing businesses the chance to not only make informed decisions, but also predict the future needs of consumers.
Trend themes
Themes within the Insightful Retail trend
Three behaviours holding the trend together01
Big Data Analytics
Retailers leverage big data to make informed business decisions using platforms that synthesize behavior online and on mobile devices to predict the future needs of consumers.
02
Retail Analytics
Retailers use analytical tools such as iBeacon and Placemeter technology to track retail traffic and customer movement in physical retail spaces, offering measurable feedback for profit and marketing strategies.
03
Online Data Integration
Companies such as Amazon integrate online data for their physical stores, curating book selections and offering in-person gadget demonstrations, using the power of in-person retail experiences to promote a successful online brand.
Industry implications
What the Insightful Retail trend means for industry
Where the trend changes the playbookFor
Retail Analytics
The retail industry can implement analytical tools such as iBeacon and Placemeter technology to track retail traffic and customer movement in physical retail spaces, offering measurable feedback for profit and marketing strategies.
For
E-commerce
Online companies can integrate online data to curate physical stores and promote its brand, utilizing both physical and online retail experiences to increase profitability and brand awareness.
For
Business Intelligence
Companies can leverage big data analytics tools to make informed decisions and predict future trends to stay ahead of competition and promote growth.
Workshop question
In what ways can you tap into your consumer's mindset in order to create a more customized experience?
Trend signals
Trend signals for Insightful Retail
Trend score 3.7 out of 10, from popularity 59%, activity 44%, freshness 8%.
Popularity59%
Activity44%
Freshness8%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Insightful Retail trend
5 featured examples from Mar 12 to Nov 3, 2015CategoryMarketing
Online Retailer Bookstores
Amazon Books Opened Its First Physical Store Using Online Data
Retailers can use online data to customize in-store offerings, creating a seamless online-to-offline shopping experience.
CategoryTech
Retail Traffic Trackers
This Technology Helps Businesses Track Pedestrian and Vehicle Traffic
Disruptive innovation opportunity: Leverage retail traffic tracking technology to drive foot traffic and improve conversion rates.
CategoryTech
Analytical Retail Beacons
Shaftsbury Square's Use of iBeacon Tech Also Offers Feedback for Shops
The retail industry can utilize iBeacon technology to create personalized experiences for customers, optimize their store layouts and promotions, and increase sales.
CategoryBusiness
Business Insight Apps
Teradata's Aster AppCenter Makes Big Data for Business Comprehensible
Disruptive innovation opportunity: Developing apps that analyze and improve customer abandonment, attribution, and website flow.
CategoryBusiness
Retail-Reviewing Platforms
This Service Allows Brands to Gauge the Potential Success of a Pop-Up
Platforms like 'RetailGrade' offer e-commerce businesses the opportunity to experiment with temporary offline experiences and expand their customer reach.
