The Data-Informed Future of <b>Retail</b> | RetailTechPodcast

The Data-Informed Future of Retail

The National Retail Federation recently increased its retail sales growth forecast for 2018 to 4.5%. That's a $159 billion increase on top of 2017's $3.53 trillion in retail sales. The opportunity to seize the future of retail is upon us. Today's retail CMOs are tasked with making crucial decisions about how to pivot their organizations toward the future. In particular, retail executives must tap into deep consumer insights that unveil the why behind how people shop. The customer experiences within those stores must evolve to meet the needs of today's consumers, whose motivations for heading out to physical retail locations have drastically changed. The data traditionally housed in a retailer's CRM is insufficient to inform the tough decisions that retail executives need to make when crossing the chasm. Deep insights like these are attainable, and the key to creating the future of retail lies in a retailer's ability to obtain, understand and execute on them. Read more