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Big Insight #1 – Data-backed decisions define retail’s future

January 27, 2016

While retailers grapple with offering multichannel shopping experiences, the industry’s next big hurdle emerges: data deluge.
“Retail has an opportunity to completely transform itself using data. It’s all about understanding your business and making decisions that are better,” claims 2016 NRF Big Show headlining speaker, Steve Brown from Intel.
Brown’s Big Ideas:
• A New Retail Brand Experience: “We’re seeing customers interact with brands in completely new ways,” says Brown. “But a lot of brands are really concerned, saying, ‘I don’t know how to interact with millennials, I don’t know what they want.’ ” The key to unlocking this relationship lies in data.
• New Retail Relationships: In the next few years, brands must add more value to their relationships with shoppers. It’s not just about having a nice shop with nice things for sale, it’s about making sure the customer trusts you and your brand. The road map to building these relationships begins with data to truly understand what is happening in the store and who the customer is.
• Retail Technology for Data: “The store of the not-so-distant future is one that really has access to real-time information and allows you to make offers and experiences for where your customers are right now, at this very moment,” states Brown.
Brown’s 3 steps to retail data success you ask?
1. The key is to know sooner, decide smarter and act faster than your competitors.
2. Look at data and figure out how to unlock its value.
3. Determine what new data sources are needed to generate more insights.
Retail’s Big Show might have come and gone for 2016 but it’s not over just yet! The National Retail Association (NRA) and partner CloudFirst, are pleased to bring you more of the big insights from retail’s largest global conference at the next round of Innovation and Technology Committee (ITC) breakfasts across Brisbane, Sydney and Melbourne.
From big data to the latest cloud based technology and digital solutions that put your customers first we have you covered. Download all you need to know.
Places are strictly limited. Click on the links below to find out more and to register.
Brisbane – March 8 2016
Sydney – March 9 2016
Melbourne – March 10 2016
Please note that NRA members need to be logged in to purchase member tickets. Contact 1800 RETAIL (738 245) if you are unsure of your member login.
To keep up to date with the latest insights, join the Innovation and Technology Committee LinkedIn group here.

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