2020 has just begun, but it’s already set to be a newsworthy year!
As the year kicks off, we’re busy gearing up for major events like NRF*, and are getting ready to make some major announcements. But before we get ahead of ourselves, we’ve rounded up our top reads of 2019 to make sure you’re all caught up before things pick up speed in 2020.
So without further ado, here is the countdown of our five most popular posts from 2019:
Agile retailers are able to anticipate demand, not react to it. But many retailers still rely on sales forecasts based solely on past sales performance. By no means does this give them the whole picture.
One such forecasting method is legacy “weekly sales and stock intake” (WSSI) reporting. Many retailers still use it to this day, though they aren’t even aware of it.
We explore the drawbacks of forecasting methods like WSSI, and explain exactly how advanced technology not only fills in the gaps, it also provides insights on demand that weren’t even possible before!
Nextail Live, our global event series, brings together top retail experts to discuss the most relevant topics in our industry. For example, the topic of discussion at our Madrid event was in-house vs. external tech development and implementation.
But while technology is fundamental, it’s only part of what makes digital transformation possible in retail organizations. Investments in the right people should also be a priority of retailers.
As part of our 5th anniversary series on customer centricity, we took a before-and-after look at just how far retail has come since 2014. And of course we had a lot to say about artificial intelligence!
AI has gone from being met with skepticism and having unclear use cases in 2014, to proven ability to transform retail on a massive scale. Part 5 of our series gives the recent timeline and explores how AI is bringing retailers closer to their customers than before.
Case in point: Nike made headlines over the summer by acquiring Boston-based AI analytics firm, Celect, demonstrating just how seriously retailers are taking AI and customer data.
What does it mean to be a “data-forward” retailer? What other brands are going to great lengths to understand what customer data is trying to tell them? You can find out in this article.
Perfect example? Major UK retailer River Island.
Our most popular news item for 2019 describes how a culture of innovation and an agile mindset has allowed River Island to ease change management and become true leaders on the path to digital transformation in retail.
And since the original publishing of this article, we’ve extended our collaboration with River Island in their digital transformation.
Happy new year! We can’t wait to see what 2020 has “in store” for fashion retailers!