Fundamentals of Retail Store Analytics

Is Amazon an online retailer using retail analytics as a platform for marketing, or is it a retail analytics company using online platform for retail marketing? Is UPS a logistics company using analytics to deliver parcels or is it an analytics company using logistics to deliver parcels?

...Inducing Impulse Behavior Using Neuroscience 

“There are certain events of which we have not consciously taken note; they have remained, so to speak, below the threshold of consciousness. They have happened, but they have been absorbed subliminally (below the threshold of consciousness).” – Carl Jung, Founder of Analytical Psychology

Mind Over Body

Literally speaking, humans have two minds in one body. The conscious mind that regulates our deliberate executive decisions and judgments like planning events, executing them and evaluating the feedback.

As Shoppers, We Are Rationally Irrational 

We are all shoppers, and we like to make good shopping decisions. We want to believe that our shopping choices and outcomes are rational. Unfortunately, they are not always. We want to believe that the more information and the more product choices we have, the better the decision we are able to make. But this not always the case. Too many choices and too much information have been shown

 ......How You Can Deploy Them

“After I retired, it seemed to me that there was a whole new world out there, which was a digital world driven by a marketplace, basically, which had a huge potential driven by handheld devices, which would one day become the virtual retail store of India.” -  Ratan Tata, Chairman Tata Group (rtd).

Traditional retail business has changed; this change is permanently unending. And technology is the driver of these tsunami disruptive changes. We, as retailers are experiencing these changes daily, and we can’t afford the luxury of complacency. There are many technological components propelling these changes. They include but are not