The retail industry has observed one of the biggest digital transformations. Being an industry where customer experience, quality of the products, keeping updated with the customer trend and latest requirement, customizing products as per demographic factors etc are the focal points for the companies in this industry, it requires continuous research and a deep understanding of these key components. At the same time, implementing technological upgrades in the changing retail environment such as online payment, online ordering delivery tracking etc. With so much happening in the retail industry and the competitors eyeing every opportunity, you need to be alert and proactive.
- retail strategies both for both offline and online markets.
- Perform Competitor analysis of both national and international players and study marketing strategies for different retails- grocery stores, clothing stores, home furnishing stores, supermarkets and hypermarkets, food and beverages store, electronics and appliances store
- Classification of retailers by retail store strategy mix, which is an integrated combination of hours, location, assortment, service, advertising, and prices, etc
- Economic factors that affect retail sales such a personal income and expenditures, interest rates, unemployment and inflation.
- Understanding the market segments with respect to demographic, psychographic, behavioral and geographical criterions
- Gather information demand estimation and efficient supply chain system
- Major technological trends and application of the same to have a competitive edge.
- Customer value analysis, customer satisfaction and loyalty, changing customer trend, culture, buying habits from customer’s order history, browsing records, social media interaction etc.