Retail & CPG (Consumer Packaged Goods)

Retailers have an opportunity to reset their ambitions and start on a path to recovery in 2023. Omnichannel tools are creating more meaningful shopping experiences. Analysing the precise data relating to the ways customers shop, identifying their wants and expectations across those channels is a good start.

Channel differentiation and focus is essential. According to the Retail Dive, 2023 Future of Retail report 91% of retailers surveyed are selling on social media and 81% of retailers are planning to expand the number of digital channels they sell through the next 12 months. The retail laggards will be left behind.

Retail analytics are building a new experience within the store, creating an environment that can unlock value and allow for sustainable growth. Using data that will create more hyper-personalised experiences for a one-to-one market will help predict spending and demand more precisely.

Deloitte predicts retailers will focus on identifying, improving, and creating efficiencies across all areas of their business and look to maximise the value of their available assets. Automated technology is enhancing the customer experience and helping retailers address staff shortages.

The Future of Retail report found that 44% of consumers want an automated tool to check product information or inventory and 73% of consumers actually prefer that local retailers use automation instead of staff in at least one area of the shopping experience.

In addition, artificial intelligence has the potential to cause major disruption in the retail industry in 2023 specifically in terms of customer personalisation, predictive analysis of spend and demand, more efficient inventory management and automation of repetitive tasks.

A further key differentiator will be how retailers adopt business practices that shift the dial on their net zero commitments, finally making their ambitious targets seem achievable. The transition to renewable energy and the return of demand for physical stores are laying new foundations for growth.

In summary, retailers will need to differentiate themselves in a crowded, competitive market by engaging directly with consumers through data analytics, encouraging the growth of communities, and actively encouraging interaction with their brands.

How we have delivered for our clients

Developed an A/B testing and optimisation strategy, delivering uplifts in key metrics.

Created a holistic measurement framework for a new geographical territory

Delivered a multi-national cookie compliance solution

Assessed new digital analytics solutions to overcome GDPR challenges

Created holistic marketing reports from multiple tools and solutions

Delivered an ETL solution to bring multiple datasets into one location for analysis

Station10 help us to orchestrate the SGBD UK data analytics implementation to deliver against strategic recommendations and lead the team with a strategic approach – this includes governance, accuracy, storage, vision, roadmaps, selection and deployment of data analytics tools.