How to use data analysis tools to deal with emergencies in retail industry

How data can help the distribution sector better understand the needs of consumers , So it's possible to adapt to changing needs ？ The next direction for retail is clear ： The industry 90％ Of the participants believe it is important to adapt to new consumer behavior .

We often find that once the business is in a bottleneck state , Only one solution can't solve the problem . We have to continue to rely on data , For example, the impact of sales forecasts and promotions , At the same time, new factors should be taken into account ： User behavior 、 Macroeconomic data, etc .

After the outbreak started , Great changes have taken place in consumption habits . Retailers have to adapt to this situation , For example, turning to e-commerce , And e-commerce is also changing rapidly .

Data is one of the keys to enabling us to adapt to trends . Enriching conventional data with information about trends and consumer behavior helps to better predict market development , The aim is to ensure that customers maintain the best experience in all situations , At the same time, it can also maximize the conversion opportunities of potential customers . therefore , Some retailers use external data （ competition , Population density , Distribution of shops, etc ） To determine the best location to open a new store .

Know how to analyze what's going on

One of the main lessons of the epidemic is that certain events are truly unpredictable . Because you can never 100％ Accurately determine the forecast , So you have to rely on real-time analysis of available information , With “ Reactivity ” To understand what's going on .

then , The second step involves defining priorities to stabilize the activity ： Identify products with insufficient inventory that cause consumers to change their brand , And products that have alternatives , And judge whether these products have an impact on consumers' purchasing experience .

Last , It's an analysis of the situation at the end of the crisis , So that we can learn from it , And better prepare for similar events in the future .

Digital transformation of retail industry , Data analysis is crucial . therefore , Making full use of available data and data analysis tools is key , What's more important is to know how to use automated mechanisms to make quick responses .

Yixin ABI Data analysis tools

Focus on improving the ability to respond quickly through real-time data

monthly , Weekly or daily forecasts are not out of date , But today we have to know how to adapt to shorter cycles . for example , Be able to process information from social channels in real time , Can respond to consumer trends immediately .

Real time shopping, especially online , It's also a bonus to the shopping experience . Customers who order goods online can track their packaging and delivery progress in real time to understand their commodity flow progress in real time .

Review the process from a collaborative perspective

In the retail sector , Three elements have to be considered ： Product availability , Productivity and profit margins . You have to be able to strike a balance between these three aspects . So , It is necessary to make all relevant businesses interact , So that the impact of each change or event can be properly reported and considered .

Aware of this collaboration issue , Some retailers have decided to make it one of the pillars of projects aimed at making better use of data . The company used to offer , That is, all teams have to access the same data to speak the same language . Collaboration between teams has increased , So it promotes business , operating , The interaction between finance, etc . Enough to optimize skills .

Please note that , It's an asset to build a team within a company that specializes in consumer analysis . In an organization with such a team , Yes 55％ Thirty percent of organizations believe they have the ability to track and benefit from changes in consumer habits , In enterprises without such a team , Only 33％ Companies with this capability .

Find opportunities at any time

Many companies have been able to use existing tools to deal with the impact of the crisis . In some cases , Things that seemed impossible before include ： Online sales , Telecommuting , Using cloud solutions , The need to adapt to new consumer trends makes 83％ 's companies are starting to think about their distribution model .

Changes in consumption habits will continue at least until the end of the health crisis . This trend towards e-commerce and all digitization should accelerate . Now? , Yes 85％ Thirty percent of retail professionals believe that door-to-door online sales will grow . therefore , without doubt , Customer experience and omni-directional channels are the two priority areas that distributors want to invest in .