Real-Time Data Drives The Future Of Retail

It’s clear now that shopper behavior has changed dramatically and that today’s shoppers expect a seamless and consistent experience with their retailers of choice.

The retail store has been largely unchanged for the past few decades, relying on legacy systems and antiquated analytics to operate its omnichannel shopping experience.

Most retail store leaders realize that they must play catch-up with online-only retailers that have leveraged a data-driven approach to operating their online stores.

However, these same retail leaders acknowledge that they don’t have the right data and insight to operate the store of the future. In-store analytics must be leveraged to allow retail stores to operate in a similar way as their online counterparts, leveraging real-time product and shopper behavioral data to drive an improved in-store customer experience as well as improved operational excellence.

In November 2015, RetailNext commissioned Forrester Consulting to evaluate the in-store customer experience and digital retail capabilities.

In conducting in-depth surveys with 500 consumers and 150 retail decision-makers in the US and the UK, Forrester found that consumer and retail perceptions and expectations are not aligned and that many retail stores lack the technology to measure and harness shopper data across channels.

Our study found that the store of the future will be powered by real-time analytics technologies that understand shopper behavior across their entire shopping journey and equip store teams to deliver a consistent in-store experience that is most relevant for the store format and target market.