The retail industry has never been as competitive and fragmented as it is today. The global economic downturn, information empowered consumers and increasing competitive pressures have created an atmosphere where the Retail C-suite has never been more accountable. From discount warehouse clubs to upscale specialty stores, corner convenience chains to mega e-commerce sites, buyers are better informed, less loyal, and highly cautious about discretionary spending. Organizations are striving to balance product, price and service sensitivities, while protecting margins, to ensure inventory availability while maintaining reduced carrying costs, and to deliver favourable Omni-channel experiences, while streamlining daily operations at all levels of the enterprise.
Convergytics has a rich experience in delivering Data Management and Reporting Solutions to several leading retailers across the globe, enabling them to optimize merchandising, enhance customer loyalty, understand and improve sales across channels and geographies, streamline the supply chain, manage inventory and reduce transportation costs.
Convergytics business intelligence for Retail helps in the following areas:
- Improve same store sales by identifying and improving underperforming products and product categories, sales personnel and locations.
- Enable increased productivity by channel, location and associate by analysing and reacting to performance patterns and trends.
- Match supply and demand by recognizing current shopping patterns and anticipating future trends along with demand-supply inter-play.
- Align the right mix of products and services by channel and location to retain the most profitable customer relationships.