The expansion of retail channels and the prevalence of social media have created a breed of intelligent consumers, armed with a plethora of information. Consumers easily research products, comparison shop, and check reviews right from their smartphone – even while they are inside your store. Consumers wield a lot of power, and with just a few taps of their fingers can spread your marketing message, or damage your brand.
To stay ahead of the savvy consumer, smart retailers need to collect and analyze massive amounts of data and leverage it to their advantage. The insight offered from the data allows businesses to tailor marketing efforts, merchandising, and other decisions to anticipate the wants and needs of consumers.
With better knowledge of customers and trends, retailers need to move fast to keep up with changing demands. In fact, they must automate a wide variety of once near impossible tasks. Merchandising automation gives retailers the power to deliver personalized shopping experiences by recommending the right merchandise for each shopper across a growing product catalog and website.
By drawing on customer insights from website engagement, search terms, and purchasing patterns, retailers can deliver targeted, location-based product and content recommendations in real time with automated merchandising. The additional revenue and process efficiencies that result will have a positive impact on revenue and profit.