Optimizing Your Retail for the New Year

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Optimizing Your Retail for the New Year

The holiday season builds up momentum, and it is crucial to carry it onto the new year to take advantage of it. Trends are constantly evolving, and the priority is to stay ahead of competition in order to capitalize on opportunities. E-commerce has been growing exponentially, as technology has become integrated into the fiber of our culture, but brick and mortar stores are still thriving.

Here’s how you can optimize your store for 2019

First, determine audience engagement by analyzing your brand’s reach and effectiveness. As shopping becomes more personalized, the importance of creating a positive experience for the consumers is higher than ever.

Second, it’s important to integrate social media and e-commerce by aligning the channel to the marketing strategy. Take advantage of the fact that social media is one of the places in which companies have the opportunity to engage with their customers in a constant, personal and real-time manner–leading directly to a purchase.

Lastly, optimize your sales by planning your inventory based on predictions of what your customers like, what they need, and what they are looking for.

The most efficient way to achieve marketplace optimization is using AI to follow each step

The right AI engine can empower you to get to know your customers by gathering data from all your touchpoints and placing them in one place. Each individual is saved, regardless of the routes they take to arrive at your marketplace, or the devices they use to get there. You can come to truly understand your audience, what they are Optimizing Your Retail for the New Yearlooking for, and how they want to get it.

AI can track where your customers are streaming in from. Social media is a great way to get your audience to click on your website and find your brand, and the right AI can tell you which social media engines are best to reach the specific audience you need to reach, and where you should concentrate your efforts.

AI collects the actual sales data linked to the customer data. As it is run through algorithms, it discovers information and comes up with predictions that can be turned into profit. When it comes to brick and mortar stores, patterns can help anticipate the best way to organize items in a store, which items will sell more, which colors will be most popular and which sizes may run out first.