Rtp rsp16-esri-final deck
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This document summarizes a presentation on how retailers can improve business results using location data. The presentation discusses how location data can be used for data-driven decision making, personalization, and maximizing brick and mortar investments. Specific examples discussed include using location attributes for market planning, customer analytics, and in-store analytics. Personalization examples include building relevant assortments and engaging customer experiences through smart shopping lists and personalized fulfillment. The presentation concludes that location data is critical for retailers and enables new insights beyond traditional brick and mortar.
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Rtp rsp16-esri-final deck
- 5. #RSP16 About Retail TouchPoints ü Launched in 2007 ü Over 30,000 retail subscribers ü To provide executives with relevant, insightful content across a variety of digital medium Sign up for our weekly newsletter: www.retailtouchpoints.com/subscribe
- 7. Every retail transaction happens in a specific place for a reason
- 10. Sales Inventory Customers Supply Chain Pricing Promotions Fulfillment Assortment Weather Transportation Population Data Data Modeling Traffic Routing Price Sensitivity Geography
- 12. Highly empowered consumers, with real time data, 24/7 about everything
- 13. • New transparencies in the market • New expectations about service and brand performance • New loyalty drivers • New competitive pressures Empowered Consumers Means….
- 14. Improving Business Results with Location • Data Driven Decision Making • Personalization and Segmentation- Driving engagement • Create value added experiences for customers • Maximize investments in Brick and Mortar
- 15. Data Driven Decision Making • Market Planning - Using Location attributes to build trade areas - Aggregating population data around the area - Correlating store performance with location attributes • Customer Analytics - Who are your customers? Evaluating CRM data and local demographic data - Who is not shopping in your stores? Simple mapping to see where there are holes in the customer shopping patterns • In-Store Location Analytics - What are the best locations in a store? Where do customers travel, dwell and purchase?
- 16. Personalization and Segmentation • Building Relevant Assortments - Correlation between population data, CRM and item attributes to curate product assortments by category • Building engaging and personal experiences for you customers - Smart shopping lists that route customers through the store - Product locators - Personalized fulfillment options- buy anywhere, receive anywhere
- 17. Create value added experiences for customers • Smart Shopping Lists – routing, product suggestions, proximity marketing • Location based content and searches • Personalized offers • Social media engagement • Home delivery/ Personalized fulfillment
- 18. Maximize Investments in Brick and Mortar • Store network optimization • Dark stores • Territory management • Relocations and remodels • Competitive assessments • Opening New Stores/ Contracting Locations
- 19. Takeaways from Today 1. Location is a critical component of any retail data management strategy 2. Leveraging location data enables retailers to uncover new insights and extend their capabilities beyond traditional Brick and Mortar 3. Many retailers are already using location to deliver precise product and services that drive consumer engagement and loyalty 4. Every size retailer, from five to five hundred stores needs a location strategy
- 20. QUESTIONS?