We apologize for adulterating one of retail’s most famous principles. We simply want to highlight the role data plays in modern retailing’s quest for detail. Be it optimal pricing, store layout, supply chain, logistics or merchandise, there is no facet of retailing that is untouched by the benefits of data insights. A clear understanding of different customer profiles, their frequency of shopping & average money spent on each visit are considered as the cornerstones of retail success. The metamorphosis of retailing from brick-and-mortar to e-commerce has changed the dynamics of success in this space. Data-driven insights have been instrumental in that change.
Predicting the future is impossible. Despite that fact, business leaders still need to be able to capitalize on future trends in order to gain a leg up on the competition and achieve business success. Unless you have the proverbial crystal ball, producing accurate insights and turning them into trends can be extremely challenging – given that there are only two reliable sources for identifying trends: Market Analysis Reports and Predictive Intelligence Tools.
1st May is just a couple weeks away. And we cannot wait to see the way Myntra fares. Going mobile! What will be the result? The management and directors may have studied the ins and outs before making a decision that has the ability to set a new standard in the world of eCommerce in India;