Data Saves the Day for Retailers
Amazon has become one of the most successful retailers, mostly because they invested in data-driven technology that has given customers what they want before they even know they want it. To compete with such a large force, small retailers are focusing on their data. Consumers of all generations expect an entirely new shopping experience, one of limitless choices, fingertip access to information, convenient and seamless transactions, and transparent pricing. And if these new norms are not delivered, they will find another retailer. The more consumers search, shop, and socialize online, the more data’s role in retail decision-making will mature. To stay competitive, small retailers need to invest in strategic enablers.
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