Application of Big Data in Retail

| January 16, 2018

article image
Retail industry has its own share of data tsunami to grapple with. As in any other field, big data in retail presents both a challenge and opportunity. Applying predictive and prescriptive data analytics in real time, retailers can glean valuable insights from their multifarious data and win customers in an extremely competitive marketplace. This white paper explores five distinct areas where retailers can apply big data analytics to increase customer engagement and improve bottom line. It traces the transformative opportunities ushered in by big data in retail through a case study and proposes a pragmatic path for merchants starting out on the retail analytics journey.

Spotlight

n11.com

n11.com Doğuş Planet was established in June 2012 in partnership with Doğuş Group and SK Group, one of the largest conglomerates in South Korea, to operate in the e-commerce sector. Doğuş Planet combines SK Group's experience in technology and innovation with the know-how, regional experience and strength of the Doğuş Group. Within the framework of this powerful partnership, the lucky address of the shopping, which brings thousands of brands and stores to millions of customers, has been launched as müş n11.com mağ open market platform.

OTHER ARTICLES

EU and US apparel consumption could fall by 300 billion US dollars in 2020

Article | April 13, 2020

Most European countries and the United States have been in lockdown since mid-March due to the Covid 19 pandemic, and brick and mortar stores have been closed accordingly. Although online retail continues, it is proving difficult due to falling consumer spending, transport issues and disruptions of the supply chain. A forecast by Indian management consulting company Wazir Advisors, which focuses specifically on the apparel sector, predicts a decline in apparel consumption in 2020 of 45 percent in the EU and 40 percent in the US, which could lead to a reduction by 300 billion US dollars (around 274 billion euros or close to 240 British pounds).

Read More

How AI is changing the face of modern web design for retailers

Article | April 15, 2020

Consumers take just 50 milliseconds to decide whether your website is worth staying on. It's therefore important for websites to be of high-quality in order to make sales. For online retailers, items need to be presented in an enticing way that convinces customers to buy. Web design plays an important role in this. While a website needs to appeal aesthetically, it also needs to provide a simple user experience from landing on the page through to purchase.

Read More

How Retailers Can Deliver the Item at the Top of Shoppers’ Wish Lists: Time

Article | February 24, 2020

For consumers, shopping can either be an exciting experience or a downright stressful one. Finding enough time to shop for the perfect gift or merely everyday staples while attempting to manage the challenges of work, family and everyday life can undoubtedly add to stress levels. Considering all of the expectations and obligations that exist within a consumer’s life, it’s critical for retailers to be respectful of their time when they have so little to spare. It's no secret that consumers’ choices on how, where and when they buy are dramatically redefining the retail industry as we know it. In order to stay relevant and top of mind for consumers, retailers must work to deliver the best possible shopping experience. Perhaps the strongest demonstration of value a retailer can provide to a consumer isn’t just better pricing or a more engaging environment, but instead to give back something their consumers value even more: time.

Read More

Macy's Furloughs Workers, and Other Retail News Related to the COVID-19 Crisis

Article | March 30, 2020

Retailers are continuing to lay off and furlough workers due to the coronavirus uncertainty. Macy's announced this morning that the majority of employees for the Macy’s, Bloomingdales, and Bluemercury brands will go on furlough beginning this week. U.S. clothing rental firm Rent the Runway also said on Saturday it had laid off retail employees following temporary store closures amid the ongoing coronavirus outbreak. “Like many businesses affected by the COVID-19 pandemic, Rent the Runway has had to make some difficult decisions in the short term to thrive in the long term, which include temporary store closures and retail role eliminations,” a company spokeswoman said in an emailed statement to Reuters. Last week, Everlane laid off and furloughed more than 200 workers, including retail and those operating back-end functions, as it struggles to cope with the shutdown of its retail business over measures to reduce the spread of the coronavirus.

Read More

Spotlight

n11.com

n11.com Doğuş Planet was established in June 2012 in partnership with Doğuş Group and SK Group, one of the largest conglomerates in South Korea, to operate in the e-commerce sector. Doğuş Planet combines SK Group's experience in technology and innovation with the know-how, regional experience and strength of the Doğuş Group. Within the framework of this powerful partnership, the lucky address of the shopping, which brings thousands of brands and stores to millions of customers, has been launched as müş n11.com mağ open market platform.

Events