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Influence of technological advances and change in marketing strategies using analytics in retail industry
International Journal of System Assurance Engineering and Management Pub Date : 2020-08-13 , DOI: 10.1007/s13198-020-01023-5
Jasmine Kaur , Vernika Arora , Shivani Bali

A nexus of technological advances and an increasingly competitive environment of the retail industry has taken the phrase, “Customer is the King” to a new tangent altogether. It has been observed how combination of technologies along with analytical concepts of video analytics, social media analytics, wireless analytics and smart vision systems on marketing concepts like market basket model, value-based customer segmentation, campaign planning, etc. can impact the customer satisfaction and reduce the customer churn rate. An effective amalgamative implementation of these concepts will help enhance customer satisfaction and help the retailers gain an edge in the competitive market environment. The aim of this paper is to understand the technological advancements along with the impact of data analytics in the retail sector and to capture and retain maximum customers by conceptualizing effective merchandising and marketing strategies.



中文翻译:

利用零售业的分析技术进步和营销策略变化的影响

技术进步与零售业竞争环境的联系已经把“客户为王”这一短语带入了一个新切线。已经观察到,将技术与视频分析,社交媒体分析,无线分析和智能视觉系统的分析概念相结合如何对诸如市场购物篮模型,基于价值的客户细分,活动计划等营销概念产生影响。并降低客户流失率。这些概念的有效合并实施将有助于提高客户满意度,并帮助零售商在竞争激烈的市场环境中获得优势。

更新日期:2020-08-14
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