5 Factors Sabotaging Your Demand Forecasts (and How to Outsmart Them)
In an era where all the customers’ whims and nuances get delivered within minutes to the doorsteps, staying ahead of the customer sentiment while keeping the unit economics intact with optimal inventory in offline retail, is a Herculean task. Recent studies reveal the total cost for inventory distortion to be a staggering $1.77 trillion worldwide, […]
Are you killing conversions with obsolete search – a 12 point checklist
Are you aligned with how shoppers search? Your visitors search in different stages of the customer journey – when they know what they are looking for, when they are not sure and need guidance, or they want to solve a problem, but don’t know how. 1. Exact search terms, e.g. model # in electronics, or […]
Do people really brush their teeth with an Electric Whisk?
A STRANGE TITLE YOU MIGHT THINK FOR AN ARTICLE, BUT IT’LL BECOME CLEAR LATER… Many households during the last few months have seen an increase in the amount of home baking going on and ours has been no different. The shouts of “Can I do some baking?” have been coming regularly from my kids, and […]
Winning the retail battle with intelligent supplier collaboration
Across the world, we are seeing the issues in a fragile supply chain being exposed, specifically in Grocery & Pharmacy segments as they fall into the essential category and seek faster replenishments. Today’s crisis scenario has resulted in 40% of retailer members of the National Retail Federation to say that they are experiencing supply chain […]
Remaining true to its mission of “Serving the Underserved” during supply chain disruptions at Prince Retail
While the COVID pandemic has amplified the many challenges that plague the Supply chain across industries, it has also brought to light the resilience and innovation to help alleviate some of these. Retailers across segment were most hit, but they also had to bounce back the fastest and continue to serve the community. One such […]
These Days, Every Day is a Black Friday
Doubling of online grocery sales. 33% increase in ecommerce. As much as quadrupling of online sales in home entertainment, from streaming services to wine, beer and liquor. Over the past 8 weeks, RichRelevance(now Algonomy) has witnessed a spike in traffic that mirrors the holiday shopping week around Thanksgiving. Said another way, it seems that now […]
COVID-19: and the elevated challenges in supply chain
In March 2020, the Institute for Supply Management (ISM) conducted a survey that focused on the impact of coronavirus disease (COVID-19) on supply chains. Nearly 75% percent of companies reported supply chain disruptions. The unprecedented outbreak has caused many businesses to experience multiple challenges including shifting customer demand, transport restrictions, shortages, and more. According to […]
2020: The Year Online Shopping Became a Viral Hit
Given the limitations that Covid-19 is imposing on nearly everyone’s lives, who’d have imagined not being able to do our grocery, consumer goods, electronics, entertainment (including restaurant food) shopping from a retail location? What’s more, there is evidence to suggest that buying habits, once changed, are likely to become permanent. It’s estimated 25% of that […]
Hyper-Personalization: The Next Frontier – With Raj Badarinath & Mike Ni
Personalized experiences are always blissful. Be it a personalized workout routine at the gym or a spa treatment, it always feels like a luxury. Personalization today is not just in terms of including a prospect’s first name in an email directed to them. It is the next step in the era of Hyper-personalization. In the […]