Retail Analytics: The Secret Weapon

Praise for Retail Analytics
"Analytics are driving the future of the retail industry. Cox′s book is the only comprehensive source on these tools. Become familiar with its contents, or suffer at the prowess of competitors who did!"
— Thomas H. Davenport, Distinguished Professor, Babson College Coauthor of Competing on Analytics and Analytics at Work
"A must–read for any business executive or technologist wanting a quick, practical, and easy–to–understand summary of the power of retail analytics.??Every retailer is interested in increasing sales and profitability and reducing costs.?? Emmett′s practical knowledge and real–life examples demonstrate how!"
— Lori J. Schafer, Coauthor of Branded! How Retailers Engage Consumers with Social Media and Mobility and Executive Advisor, Retail, SAS Institute
Turn data into dollars with Retail Analytics
How did Levi′s evolve from the "working man′s" jeans to outfitting the entire family from head to toe? Why do Luvs and Lifesavers often end up in the shopping cart together? How do media giants Kmart, Walmart, and Target (Australia) leverage their cache of retail data to move more merchandise and increase profits? Give your products and bottom line a boost and maximize your strategic advantage with the cutting–edge analytic tools found in Emmett Cox′s Retail Analytics.
Blending the perspectives of both his retail and financial services backgrounds, Cox includes numerous examples of projects and case studies that he either developed or brought to fruition to show you how to deliver maximum results in your company. Retail Analytics also balances the credit card marketing point of view throughout each section to illustrate how it is used to augment many types of analytics.
A must–read for CEOs, CFOs, and retail managers, Retail Analytics shows you how to leverage analytics to:
Pinpoint where to break ground on new s tores using GIS tools
Work with enormous amounts of data in a very logical and structured way
Anticipate the needs of the local consumer base
Bridge between retail and credit companies
Identify purchasing patterns to initiate the "next best offer" to your customers
Track purchases using advanced market basket data
Cash in on your data—up to $30 million on an annual basis
Stimulate impulse buying and follow–up purchases on online orders
Learn how to analyze, mine, and manipulate your data and watch your bottom line soar with the practical steps and guidelines found in Retail Analytics.

Spis treści:
Preface ix
Acknowledgments xi
Chapter 1 Retailing Analytics: An Introduction 1
Retailer Goodwill 2
The Inside Scoop: Retail Power Brokers 2
Retail Organization 3
Real Estate Marketing 5
Creative Advertising Marketing 6
Operations Marketing (Research) 6
Direct Marketing 7
Strategic Marketing 7
Communicating to the Retail Organization 8
Point of Sale versus Market Basket Data 9
Data Is Gold 10
Data as Revenue: The Price of Retail Data 12
Chapter 2 Retail and Data Analytics 15
Hard–Core Data Terms: Now We’re Talking about the Fun Stuff 15
Market Basket 16
Data Storage 101 17
Data without Use Is Overhead 19
Case Studies and Practical Examples of Data–Related Retail Projects 20
Trade Area Modeling 20
Real Estate Site Selection Modeling 21
Competitor Threat Analytics 22
Merchandise Mix Modeling: Combining Multiple Data Sources 23
Celebrity Marketing: Tracking Effectiveness 26
House Brand versus Name Brand 28
E–Business: Clicks and Mortar 29
Affinity Merchandising: Merchandise Cross–Sell Case Study 33
Market Basket Analysis: Examples 35
Store Departmental Cross–Selling 40
Single Category Affi nity Analysis: Paper Towels 43
Best Checkout Register Impulse Items for Christmas Season: Case Study 45
Chapter 3 The Apparel Industry  47
Many Types of Apparel Businesses 47
Retailer Building and Location, Location, Location 48
Who Is My Customer? Size Up the Opportunity and Show Me the Money! 49
Evolution of a Brand: Not Your Father’s Blue Jeans 50
Diversifi cation: Spread Risks over Multiple Businesses 51
Critical, Need–to–Know Information in Apparel Analytics 52
Seasonality: Styles Change like the Wind 52
Seasonal Counterpoint 54
Merchandise Placement and Presentation: From Racks to Riches 54
Accessories 55
Next Best Offers 55
Promotions: Lifeblood of the Apparel Business 57
Retail in General: Impulse Buying 57
Chapter 4 Importance of Geography and Demographics  59
Understanding the Tools and the Data Requirements 60
How Geographic Information Systems Work: Science behind the Tools 60
GIS Layers of Information: Building a Map, Layer by Layer 61
How Geography Fits into Retail: Location, Location, and Location! 61
Retail Geography: Data and Lots of It 61
Retail Data: Internal Data Collection 63
Retail Trade Areas: Differing Methods for Debate 63
Zip Code Data: Forecasting Application Volume by Store 66
Now That We Understand the Tool and the Data, What Do We Do? 66
Card Preference Opportunity by Zip Code: Case Study 66
Example of Sales Penetration Map 71
Market Observations: Additional Uses of the GIS Tool 72
Chapter 5 In–Store Marketing and Presentation  75
Understanding the Different Store Designs 76
Old Theories of Merchandise Placement 77
New Theories of Merchandise Placement 77
Mass Merchandisers Were Slow to Catch On: Does Convenience Translate into Sales? 78
All about Pricing 78
Everyday Low Price 79
Loyalty Discount Philosophies 82
Tiered Pricing 82
Types and Sizes: Retail Store Stra tegies 84
Store in a Store: Make Shopping Convenient 84
What’s in a Store: Convenience Stores to Hypermart Stores 85
Hypermarts: When Is Big Too Big? 86
Warehouse Clubs: Paying for the Privilege to Shop 87
Shopping by Design: Traffi c Patterns 88
Category Management: Science behind the Merchandise Mix 91
Merchandise Placement: Strategy behind the Placement 93
Specialty Departments: Coffee, Breakfast, and Pizza 95
Other Specialty Departments 95
Receiving Dock 97
Stocking the Counters 98
In–Store Media: Advertising or Just Displays? 99
Receipt Messages 103
In–Store Events 104
Holidays 104
Analytics: Tracking a Moving Target 104
Marketing Outside of the Store 105
Chapter 6 Store Operations and Retail Data  107
Setting Up the Store for Success: Strategic Uses of Data 107
Labor Forecasting 108
Importance of Accurate Labor Forecasting: The Cost of Doing Business 109
Consumer Differentiation at the Point of Sale Register 111
Heating and Cooling: Centralized Thermostats 112
Intrastore Communication 112
Replenishment and POS Sales: Cause and Effect 114
In–Store Career Path: Stockperson to Store Manager 115
Chapter 7 Loyalty Marketing  117
Loyalty Programs 117
Who Is the Sponsor for the Program? 122
Questions to Answer before You Begin 123
Total Program Incentive: Are You Loyal? 125
From the Consumer Finance Credit Card Retail Perspective 127
Loyalty Segments: Develop Them Early 128
Loyalty at POS: Different Stages and Levels of Loyalty 130
Kmart’s School Spirit Loyalty Program 133
Australian Loyalty 135
FlyBuys Rewards and Loyalty: Australia 136
Additional Loyalty Programs 137
The Retail World Is Changing 138
Social Media 139
Glossary 143
About the Author 157
Index 159

Nota biograficzna:

Emmett Cox is Senior Vice President of Consumer and Busines s Intelligence at BBVA Compass Bank, where he uses his retail experience in the development of strategic–based consumer programs. He has also worked for Walmart Financial Services, GE Money Global, and Kmart. He has lectured in many CRM and marketing conferences and seminars, including the Paris Loyalty Forum, Czech Republic Loyalty Management, ACNielsen Category Management, Spectra Marketing and Intelligent Targeting, Teradata NCR Partners, and others in the United States; Coolum, Australia; and Vienna, Austria.

Okładka tylna:

Praise for Retail Analytics
"Analytics are driving the future of the retail industry. Cox′s book is the only comprehensive source on these tools. Become familiar with its contents, or suffer at the prowess of competitors who did!"
— Thomas H. Davenport, Distinguished Professor, Babson College Coauthor of Competing on Analytics and Analytics at Work
"A must–read for any business executive or technologist wanting a quick, practical, and easy–to–understand summary of the power of retail analytics.??Every retailer is interested in increasing sales and profitability and reducing costs.?? Emmett′s practical knowledge and real–life examples demonstrate how!"
— Lori J. Schafer, Coauthor of Branded! How Retailers Engage Consumers with Social Media and Mobility and Executive Advisor, Retail, SAS Institute
Turn data into dollars with Retail Analytics
How did Levi′s evolve from the "working man′s" jeans to outfitting the entire family from head to toe? Why do Luvs and Lifesavers often end up in the shopping cart together? How do media giants Kmart, Walmart, and Target (Australia) leverage their cache of retail data to move more merchandise and increase profits? Give your products and bottom line a boost and maximize your strategic advantage with the cutting–edge analytic tools found in Emmett Cox′s Retail Analytics.
Blending the perspectives of both his retail and financial services backgrounds, Cox includes numerous examples of projects and case studies that he either developed or brought to fruition to show you how to deliver maximum results in your company. Retail Analytics also balances the credit card marketing point of view throughout each section to illustrate how it is used to augment many types of analytics.
A must–read for CEOs, CFOs, and retail managers, Retail Analytics shows you how to leverage analytics to:
Pinpoint where to break ground on new stores using GIS tools
Work with enormous amounts of data in a very logical and structured way
Anticipate the needs of the local consumer base
Bridge between retail and credit companies
Identify purchasing patterns to initiate the "next best offer" to your customers
Track purchases using advanced market basket data
Cash in on your data—up to $30 million on an annual basis
Stimulate impulse buying and follow–up purchases on online orders
Learn how to analyze, mine, and manipulate your data and watch your bottom line soar with the practical steps and guidelines found in Retail Analytics.