Deloitte Challenges Retailers To Look At Their Businesses Using New Retail Metrics

“Deloitte has done more than just talk about it. The firm has proposed a new retail metrics model in a report entitled “The Future of Retail Metrics: Measuring Success in a Shifting Marketplace.”

  1. Retail-profit-per-transaction
  2. Sales-per-unique-customer
  3. Enterprise value measures revenue growth, return on invested capital (ROIC) and free-case flow (FCF)”

https://www.google.com/amp/s/www.forbes.com/sites/pamdanziger/2019/09/15/deloitte-challenges-retailers-to-look-at-their-businesses-using-new-retail-metrics/amp/

What it takes to succeed over the holidays

  • “Online shoppers in the United States spent $122.0 billion online in the 2018 holiday season, according to Internet Retailer research data, a 17.4% increase from the 2017 period.
  • planned to increase their investments compared with the last holiday season, 77% said social media marketing, 62% said retargeting and behavioral remarketing, 61% said email, 61% said search engine optimization, and 58% said paid search.
  • large retailers (those that generate at least $1 billion in total annual revenue) generated a 68% sales increase compared with a typical Monday and Tuesday this year. And smaller retailers, those with annual online sales below $5 million per year, grew their online sales 28% over the two days compared with a typical Monday and Tuesday period, according to Adobe Digital Insights.”

https://www.google.com/amp/s/www.digitalcommerce360.com/2019/07/30/what-it-takes-to-succeed-over-the-holidays/amp/

SAP retail chief: Why more retailers need to harness data differently

  • “Yet with SAP’s 2018 Digital Transformation Executive Study finding just 3 per cent of retailers have completed digital transformation projects, most of which focused on efficiency and cost cutting, there’s clearly still a long way to go before brands successfully harness digital for more disruptive innovation in the retail experience.
  • Again, however, only a small percentage of data is being used by retailers in decision making. While these organisations tend to collect as much data as they can, squirrelling away for future use, they’re still not able to ascertain its significance, Schneider agreed.
  • An example is Adidas in Russia, which used existing cameras plus RFID readers and RFID tags on garments and products to improve real-time inventory accuracy in its physical store from 60 per cent to 99 per cent. Adidas is now looking to rollout the approach globally.”

https://www.cmo.com.au/article/659103/sap-retail-chief-why-more-retailers-need-harness-data-differently/

How Retailers Can Adapt To A.I. And The Future Of Shopping

  • “Artificial intelligence will again change the way we shop, according to EY’s FutureConsumer.Now research.
  • As A.I. bots develop, consumers will be able to outsource the type of shopping which doesn’t excite them.
  • Shoppers will no longer have to dedicate their time to repetitive purchases s
  • Experimenting with other new technologies will also attract higher footfall: brands from Nike to Ikea are introducing 3D printing in stores, jumping on the demand for personalization.”

https://www.google.com/amp/s/www.forbes.com/sites/annaschaverien/2019/03/18/ey-future-of-shopping-retail-ai-artificial-intelligence/amp/

Retail and Banking Lead in Global AI Spending, According to Report

    “The retail category as a whole will spend $5.9 billion this year on tools like automated customer service agents and product recommendation generators,
    while the banking sector is set to put $5.6 billion toward more security-oriented AI uses like fraud prevention and threat intelligence, according to the report.
    Total spending from businesses on AI is projected to reach nearly $35.8 billion in 2019—a 44 percent increase from last year—and $79.2 billion by 2022.
    More broadly, around 17 percent of all spending will go toward software applications of AI”

https://www.google.com/amp/s/www.adweek.com/digital/retail-and-banking-lead-in-global-ai-spending-according-to-report/amp/