Simply put, if a retailer does not use data in the process of placing
products and promotional materials in the store, odds are four to one
that they are a Retail Loser.
Retail Winners use the vast amount of data that is available to them
to their advantage when making placement decisions. For instance,
understanding that they sell more of Product A when it is closer to
Product B, and not near Product C, can have great significance when
planning new product launches. What’s more, they also use SKU density
metrics to determine accurate assortment counts for each store in space
planning, ensuring that stores are sent exactly what they need.
Retail Winners also use big data when analyzing campaign effectiveness.
They track store conversion rates, and merchandising directive “lift,”
after new merchandising directives have been executed. Odds are
three to one that those who don’t track merchandising lift are Retail Losers.
Credits of One Door