5 imperatives for improving profitability in retail/CPG
Today's unpredictable consumer behavior mixed with high inflation is not a sustainable recipe for profitability. How do retailers and consumer goods companies (CPGs) chart a course forward?
Take a tour of the consumer landscape to discover how to maximize value through analytics. View this infographic for a look at five imperatives for boosting profitability in retail and CPG.
How can analytics help boost sales during inflation?
Analytics can pinpoint areas of opportunity by leveraging AI and machine learning to enhance traditional forecasting models. This allows for more agile and frequent planning cycles, enabling retailers to better respond to changing consumer demand and ultimately increase revenue.
What role does customer data play in enhancing brand loyalty?
A robust customer data platform, powered by analytics, allows retailers to reclaim customer data from third parties. This enables them to understand customer preferences and provide a more transparent and personalized experience, which is essential for building brand loyalty.
How can retailers accurately predict demand?
Retailers can utilize analytics to incorporate various demand signals into large-scale forecasting. This approach helps optimize inventory distribution for each SKU, location, and channel, allowing retailers to react effectively to demand spikes and supply chain pressures.
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