The threat of Amazon moving into their space is driving them to seek new and better solutions
MIAMI (PRWEB) January 24, 2018
According to RSR’s newest research on Location Analytics in Retail, retailers are excited about the potential benefits of geo-location data and analytics to offer more personalized value to consumers, but are unclear of some of the risks associated with using the data. While retailers tend to focus more on non-anonymous data as they seek to find new personalization strategies, they may be missing the bread-and-butter opportunities from analyzing new anonymous geo-location data derived principally from consumer mobile devices to improve everything from site selection to store layouts and more localized merchandise planning.
“Grocers and other sellers of fast moving consumer goods see the most opportunities for location-based analytics,” said Brian Kilcourse, Managing Partner at RSR and co-author of the report. “Typically these retailers are slow to adopt new technologies, but the threat of Amazon moving into their space is driving them to seek new and better solutions to the challenges they face.”
The research was commissioned by esri. The resulting report contains 24 charts and 27 pages of analysis.
Some key findings:
- Retailers are desperate to find new ways to reach and engage customers and believe location-based analytics can help improve their marketing efforts
- They tend to under-estimate consumer privacy concerns
- Retailers with broader and older technology portfolios are unclear how they will assimilate location-based analytics, while those who have lighter portfolios are more likely to embrace a location analytics platform
- Ease of use is critical – there is a significant shortage of data scientists, so the information must be presented to users in an easy-to-consume way.
If you don’t have time to read the full report: Check out our eBook on the topic.
The report and accompanying eBook are both part of RSR Research's ongoing efforts to provide market intelligence on retail technology trends.