Target your best customer when they are in your store. Maximize your earnings!
General Merchandise retailers have rarely been leaders in adopting advanced technologies, whether it involves behind-the-scenes, supply-side implementations or customer-facing tools that augment the consumers shopping experience.
Increasingly, however, the bank of data available to retailers are creating opportunities for grocers to take advantage of the information present on their fingertips.
Business KPIs of CEO Dashboard
Business KPIs show the overall operational effectiveness of your Grocery Store. These KPIs help to spot the issues in particular areas of operation.
For example, decreasing pattern in repeat customers gives the insights that after acquiring, customers are not coming back to purchase from your store or decreasing pattern of margin ratio shows that your store's costs are increasing at a higher pace than the sale. You can find hundreds of such insights with Big Data and Analytics.
Once the problem areas are identified, drill down further to the specific and detailed insights based on locations, SKUs, customer segments etc.
General Merchandiser is a hyper customer-centric business and as a retailer, its must, that you are able to map customers right from the time they walk-in your store.
Big Data and Analytics leverages the vast pool of customer data including demographics, transactions, visiting patterns, CLVs and more to enable you to customize your SKUs and marketing initiatives to highly profitable customer segments.
Grocery Store's growth largely depends on how your capture your customer's preferences at multi-location level. As a business owner, you need to keep track of main KPIs by each location.
Location Analytics not only gives you a clear view on particular location's effectiveness but also on its ratio in overall profitability.
With Unlock Insights's Multi-Level Store Analytic Solutions, your stores are grouped in clusters based on different criterions like Revenue, Cost, customer segments or margin value. Each location, in turn, is measured in details with customer analytics, inventory metrics, and staff analytics.
By appending your store and customer data at the multi-location level you can analyze all variables—from competitors to products to customers in easy-to-visualize dashboards.
With Unlock Insights's product analytic solutions for General Merchandiser, you can analyze and make informed decisions based on factors like price, revenue, margins etc for each product and over all array of product offerings
General Merchandise stores find inventory optimization to be their one the most complex problem. Either being over-stocked or being out-of-stock has a lot of costs both in terms of money and brand reputation. Inventory Analytics can also be used for creating optimal inventory replenishment plans. Increase profits and ensure optimal stock availability for every store
Inventory Analytics can also be used for creating optimal inventory replenishment plans. Increase profits and ensure optimal stock availability for every store
Staff and Survey Analytics
Staff Performance and Customer Experience is of paramount importance in a General Merchandise store for creating a long term loyal customer base and that is precisely what staff analytics helps you improve.
Survey Analytics is about getting insights on the responses gathered through some surveys and research. In General, these metrics are related to marketing and customer satisfaction.
Usually, these metrics depend on the quality of surveys, some assumptions, and other possible biases. These measures should be interpreted carefully.