In the realm of grocery retail globalization, Canadian grocery stores are challenged by the growing data volumes and are forced to make tough choices that can make or break their success. Data-driven disruptions and the evolution of new & advanced business models have not only complicated the current Canadian grocery retail landscape but have made it difficult for businesses to sustain a leading edge without the use of analytics in retail industry.
In the face of these disruptions and the growing popularity of analytics in retail industry, legacy Canadian grocery stores are forced to ramp up their analytics investments and focus on driving growth in several key areas including- procurement, inventory management, consumer demand management, supply chain optimization, and sales. However, to excel in each of these areas it’s crucial to note that analytics in retail industry has a major role to play in offering rich data-driven insights and ensuring the availability of these insights across all business units.
Analytics in retail has witnessed widespread adoption owing to its ability to drive improvements across processes. Request a FREE proposal to learn more about its use cases from an expert.
Based upon the current Canadian grocery retail scenario and the combined views of our retail data analytics experts, we believe that success in the Canadian grocery retail sector in 2020 will be defined by the retailer’s ability to analyze data and master the highly dynamic marketplace in which they operate. In 2020 the Canadian grocery retail sector is expected to manifest itself in a variety of ways based on the following trends that shed light on the role of analytics in retail industry.