The customer is always right – know your customer
Retail is - like hardly any other industry - in a time of digital disruption. Products are omnipresent, substitutable, available at all times and price pressure on retailers and producers is greater than ever. For the new digital customer, merchants are virtual, almost impossible to differentiate and are easily replaced if the selection, speed of service or price/performance ratio do not meet expectations. In order to stand out from the mass of offers and dealers in the future, retailers must synchronize analog and digital channels in order to be able to offer each consumer an individual and coherent shopping experience across all channels. However, providing this type of shopping experience requires a high degree of flexibility throughout the supply chain. Mail-order or online inventory is often managed in a different warehouse system than store-based inventory, so products may not be available where the customer wants to buy them. However, to ensure a seamless Omnichannel experience for customers, it is essential to align demand, planning and inventory across channels. This is where data analysis comes in and helps retailers improve the Omnichannel experience through the targeted use of data.