Why Out-of-stocks, Data Mismatch, and Hidden Demand Still Catch Out Beauty Brands When beauty brands review retail performance, the picture often looks reassuring. Availability appears high. Sales reports feel complete. Forecasts are built on what was sold. But our conversations with brands working directly with Ulta and Sephora reveal a more complicated reality. One where... Read more »
While there’s a number of different data points that can help your business grow, few are as important as the insights you get back from your POS. If you’re a retail business, analyzing sales data, inventory performances and employee sales is vital to the growth of your company. Before we dive in, what are POS… Read more »
Business Analytics (BA) refers to the practice of exploring a company’s data with a core focus on statistical analysis. Business analytics is used by companies that are committed to data-driven decision-making, which is vital for fueling the growth of your business and gaining a competitive advantage over your market. It requires quantitative methods and evidence-based… Read more »
Retail can be a volatile space – at times, it’s a feast-or-famine situation. Many times, a sharp decrease in sales are due to factors outside of human control such as bad weather, product recall, new competition, changing consumer preferences, etc., but there are plenty of ways to combat the bottom-line-eating “slump” in sales. Your business… Read more »
Buy Now If it seems like Generation Y consumers are always shopping with their phones, well, they are. New research from GfK shows that 73 percent of those ages 29-38 report using a smartphone for shopping over the last six months. That’s compared with just 33 percent of baby boomers (ages 54-72) and 59 percent… Read more »
While the definition of sales cycle can differ depending on whom you’re talking too, essentially it refers to the process that a company uses to obtain a new customer. It includes all activities associated with closing a sale. These steps and processes in a sales cycle can differ from one company to the next, depending… Read more »
Supply Chain Management (SCM) refers to the complete range of activities needed to plan, control and execute a product’s complete journey, from the purchase of raw materials and production through distribution to the customer receiving their order, in the most efficient and cost-effective manner possible. If a company wants to compete in international and global… Read more »
Retailers are constantly talking about the future, but what technologies are going to take them there? When we think about innovations like chatbots, personalized product recommendations, dynamic pricing and programmatic display, there’s one common denominator. All of these are great examples of how artificial intelligence can be a game-changer for a multichannel retailer. Over the… Read more »
Featuring more than 1,500 exhibitors, the 75th annual International Builders’ Show, held February 19-21, 2019 in Las Vegas, proved to be the biggest in a decade, proving to us that the home building industry continues to flourish. The show was part of Design & Construction Week®, which saw more than 100,000 attendees. The IBS exhibit… Read more »
POS Data: More than Numbers Companies can draw insights about consumer behavior using POS data, which defines an intricate correlation between purchases, inventory, seasons and other contributing factors. These sets of data hold a lot of value, but in raw form, the information can be difficult to work with; after being cleaned up and formatted… Read more »
