Data Science, IT, and Big Data provide infinite possibilities for the retail and e-commerce industry. Internal data, cash systems and customer data may provide valuable insight. Together we derive strategies, based on these insights, to successfully guide your company into the future.
Subsequently, we sum up possibilities and assess further options for your optimization of business strategies and long-term customer retention.
Product Line Optimization
As an e-commerce or retail business, your success is highly influenced by your product line. Information regarding the buying behavior of your customers and the performance of singular products or product categories are a strategically valuable tool for your business success.
With our product line optimization, we help you to predict the buying behavior of your customers. Furthermore, we identify products for cross-selling or upselling. This way, you can increase your revenue with the existing product line.
Additionally, we support you in identifying possible substitute or complementary goods to optimize your product hierarchy.
Pricing Solutions and Analyses of your Competition
Together, we develop a sustainable pricing strategy. We support you with the introduction of dynamic pricing – hence, a dynamic and demand-oriented pricing strategy.
Moreover, e-commerce and retail are highly competitive fields. Therefore, we identify the strengths and weaknesses of your competition and consider these insights in the pricing strategy.
For you as a retail company customer satisfaction has a top priority. In order to thrill your customers, it is especially important to know and meet their desires. With an extensive customer analysis you identify customers with high revenue potential. This way, you always know when to advertise which product.
With targeted marketing you make target-oriented addresses to the right customers. You recognize patterns and increase your upselling potential. We optimize your marketing campaigns regarding location and target audience. Also, we help you identify customers on the verge of cancelling and apply preventive measures (Churn Prevention). Finally, we derive predictions based on our analyses, so that you are perfectly prepared for possible changes.
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With our Smart Analytics and Datawarehousing solutions, a combination of marketing and business data becomes possible. This way, you gain a 360° view of all business processes – from marketing and sales up to logistics.
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Here you will find more information on Smart Analytics and Data Warehousing.
Along with customer-oriented marketing, the choice of the right location marks a crucial issue for retailers. Picking the wrong location may have negative effects on your company’s revenue. We support you in the quest for the perfect location.
To achieve this, we create a geo-based optimization model. This model analyzes multiple location-based factors and creates prognoses regarding the effects of the location on your business processes. Potential location-based factors may be infrastructural or economical, etc. Also, external parameters are regarded as locally significant.
Are there any specific factors you consider important in the choice of your location? No Problem! In individual strategy meetings with your experts, we define the criteria for the location analyses. This way, we develop a solution that perfectly fits your needs.
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We offer extensive Big Data solutions for demand-based prognoses and automatic disposition. We optimize each step of your supply chain based on complex analyses. Self-learning algorithms predict sales for each individual store. This way you make sure you always dispose of sufficient capacities and products.
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