Tag: Retail Industry Trends

sentiment analysis

Sentiment Analysis Engagement Helped A Sports Brand to Optimize Marketing Campaigns and Boost Sales Revenue By 27%

The client is a leading sporting goods retailer based out of the U.S who is known for its quality products in different categories such as athletic footwear and athletic apparel.

The sporting goods manufacturing industry is one of the most dynamic sectors where retailers compete to get their significant share. Sporting goods retailers are facing a unique set of challenges due to factors such as changing models of sports equipment, increasing competition, extremely cost-sensitive consumer and the seasonality of sports. Also, there is an immense pressure due to the marked decrease in the profit margins caused by rising costs of materials, increasing labor costs and warehouse costs. To tackle such challenges, sporting goods retailers are now leveraging sentiment analysis approach to comprehend their customer sentiments and plan a long-term marketing strategy to boost revenue. Furthermore, sentiment analysis can help sporting goods retailers to understand the opinions and interests of their customers and react accordingly to the changing customer preferences.

Talk to our analytics experts to know how they can help you improve your customer experience through advanced sentiment analysis techniques.

Business Challenge

The client, a leading sporting goods retailer, wanted to gauge customer sentiments and gain in-depth insights into the potential opportunities in the market to boost revenue. Also, with the help of sentiment analysis solution, the client wanted to answer strategic questions about their products and business performance. Furthermore, by leveraging sentiment analysis solutions, the sporting goods retailer was looking to analyze the opinion and attitude of the end-users and develop a proactive customer engagement strategy to monitor customer interaction at each touchpoint. That is why they approached Quantzig to leverage its expertise in offering sentiment analysis solutions to help them identify and extract useful information from their customer datasets and optimize their marketing campaigns.

Quantzig’s sentiment analysis solution help companies to develop an understanding of KPIs, select measurement tools and enhance performance in real-time. Request a FREE proposal to gain in-depth insights into our portfolio of analytics solutions.

sentiment analysisSolution Offered and Value Delivered

The analytics experts at Quantzig adopted a holistic three-phase approach to address the client’s core business challenges and identify key metrics for customer sentiment analysis. In the first phase of the sentiment analysis engagement, the analytics experts focused on identifying data-driven metrics to help them gauge customer sentiments. The second phase of the sentiment analysis engagement revolved around leveraging social media analytics solutions to analyze unstructured customer datasets and categorize customer sentiments. The third and the final phase of the sentiment analysis engagement focused on accessing customer sentiments and reactions to the client’s offerings on different social media platforms in real-time. The solution offered helped the client to increase focus on customer feedback sources to define potential targets and identify promising opportunities. Also, the client was able to redesign their business models and modify marketing campaigns to suit customer needs. The sporting goods retailer could potentially tap into its customer’s preferences and determine their perceptions towards the brand.

We help organizations analyze the effectiveness of their communications and customer interactions on different digital marketing platforms with the help of customized analytics dashboard. Request a FREE demo below to know more.

Quantzig’s sentiment analysis engagement also helped the client to:

  • Optimize their marketing campaigns and go-to-market strategy
  • Boost sales revenue by 27%
  • Improve customer experience and interaction significantly

To learn more about sentiment analysis and its benefits for your business, request for more information now!

Weekly Round-Up: A Storyboard on the Benefits of Leveraging Analytics in Retail

LONDON: Quantzig, a leading analytics services provider, has announced the release of their new storyboard on analytics in retail. Each of these downloadable articles explains how analytics solutions can help companies to make informed decisions at tactical as well as strategic levels, optimize store-front layouts, track a new product’s performance, and improve profit margins.

Companies in the retail sector are facing critical challenges associated with the development of customer-centric solutions, decision making around pricing strategies, product promotion amidst growing competition, sales and demand forecasting, and merchandising planning. Leveraging the potential of analytics in retail can help companies to improve marketing ROI, optimize digital advertising investments, identify right media mix, and devise profitable sales strategies.

Quantzig’s analytics solutions have helped retail companies to develop cross-channel and multi-channel retail strategies, by offering insights into customer demand and preferences. Below, we have summarized some of Quantzig’s free resources and have also highlighted ways in which analytics in retail has helped businesses to excel in the competitive marketplace.

Are you finding it difficult to understand how retail analytics solutions can help your business to create assortments on customer preferences and devise the most engaging strategy for each customer?  Get in touch with us right now!

#1: Why has analytics in retail become so essential for retailers? Are you looking for ways to improve the performance of your retail store? In-store analytics may hold the solution to this. Retail in-store analytics can help retail companies in designing better store layouts and understanding the behaviors of a customer in the store by providing heat maps for foot traffic. Furthermore, utilizing analytics in retail can empower retail companies to make a comparative analysis and devise robust business strategies.

By leveraging the potential of real-time analytics in retail, companies can improve visibility and coordination throughout the supply chain and develop a seamless integration between multi-channel supply chains. Request a FREE proposal to know how our portfolio of retail analytics solutions can help your business.

#2: A definitive guide to analytics in retail: Store layout planning, inventory optimization, sales forecasting, market basket analysis, customer analysis, and price optimization are some of the major concerns of all companies in the retail sector. This detailed guide has the answer to all these concerns and can help you gauge at the changing market dynamics more effectively. Download the free resource to gain better insights.

Request a FREE demo today to gain insights into how analytics in retail can help in market basket analysis and measuring business performance.

#3: How can analytics in retail help businesses to gain front liner advantage in the complex retail scenario? Are you wondering how to analyze customer’s buying patterns and identify marketing opportunities? Merchandising analytics is the answer to this. For companies that are looking at gaining a front liner advantage in the era of Industry 4.0, a powerful and sophisticated merchandising analytics platform is the pre-requisite. Also, leveraging analytics in retail can help companies to eradicate data silos and improve surface insights to boost ROI.

Want to know more about the benefits of analytics in retail? Request more information below.

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Top 3 Retail Industry Trends to Watch For in 2018

The survival of the retailers depends on their potential to offer innovative services to customers.

Retail Industry Overview

Recent studies on the retail industry overview show that this industry is highly competitive and mature in the developed economies of North America and Europe. On the other hand, the developing economies such as the Middle East, Asia-Pacific, and Latin America have been instrumental in driving the growth of this industry.  Today, the spending of customers in this industry has grown substantially and accounts for Get More Infoaround two-thirds of the total GDP. This has been a key index for judging the retail industry’s health. Additionally, an analysis of the retail industry overview unveils the fact that the strengthening of online shopping business also acts as a major growth driver for this market. Also, the increasing penetration of mobile devices, smartphones, and internet services has helped e-commerce to emerge as a major shopping platform all around the globe.

Retail Industry Trends

Customization will prosper

Personalization will be one of the key retail industry trends that will prevail in 2018 and the years to come. It enables the shoppers to build the order and customize them to the last detail. The value of customer experiences is one of the key components for the retail industry to succeed today. The buyers of today want the tangible products to fit into their lifestyle perfectly and to be unique. This is the reason why this trend of personalization will flourishContact US even more in the days to come.

Robots will gain more popularity

In 2018 and the years to come, bots are expected to play an important role in supporting retail operations. Companies like Amazon have already started investing in robots to help them in packaging and shipping items. Therefore, this trend is expected to gain a high investment in the near future.

Social media will drive the retail industry

Today, no one can deny the impact of Instagram stories, Facebook live videos, and messenger applications on consumers’ perspectives. Such retail industry trends will change the way retailers interact with their customers online. Simply posting photos and posts on social media profile won’t guarantee engagements with the customers in the days to come. So, there is a need for the retailers to modify their social media marketing strategy and use better channels to engage with customers in real time.


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How Can Geospatial Analytics Help Uncover Surprising Insights on Omnichannel Retail?

What is geospatial analytics? 

Modern technologies such as locations sensors or GPS tracking, mobile devices, and social media facilitate companies to collect “geo-referenced” data about practically any event. Geospatial analytics uses this data to build maps, statistics, graphs, and cartograms, which make complex data relationships more understandable. Geospatial analytics help companies to anticipate and prepare for possible changes that may occur as a result of the changing spatial conditions or location-based events. Advanced geospatial analytics also allows retailers to quantify the actual economic value of each of their stores across various channels.Get More Info

Geospatial analytics in omni channel retailing

Over the past several decades, retailers have been leaving no stone unturned for mining different data sets such as market trends, demographics, and point-of-sale information. But now, with advanced technologies and the availability of new types of data, retailers can gain a better understanding of the markets and consumers. Retailers can now analyze not just the quantity of customer traffic but also the quality of this data.

Omni channel retailing is now becoming a ‘hot trend’ among retailers. Retail companies are scrutinizing the interplay between online and offline customer decision journeys. Taking an omnichannel view of store performance allows each store to be rightly credited for all the sales in which it played a role, be it for offline or online sale. In doing so, retailers are getting a more accurate picture of each store’s total economic value and will be able to make better decisions about their omnichannel retailing presence. 

Some of the key benefits of geospatial analytics in omni channel retailing include:

Know where your customers live, work, and shop

With the help of geospatial data, companies in the omni channel retailing space can garner a better understanding of where their potential customers reside and they specific shopping habits and patterns. This would help make informed decisions on the site-selection, marketing, and product assortment for specific areas.

Determining store locations

Deciding on the store locations for a business is a crucial task, which involves intense planning and brainstorming since wrong decisions in this aspect could cost a company big money. By understanding key factors such as competitive presence, potential customer demographics, and access to supply chains, companies can make better omni channel retailing decisions so as to what would work better for each locality.Demo

Making real-time decisions

Geospatial analytics provides up-to-the-minute data on customer and vehicle locations, assets, sales, and environments into maps and analysis. This gives companies the time and space to decide on the changes to be made for resource allocation on a real-time basis.

Understand key factors of purchase

Retail companies use data-driven analysis on how and where customers interact the most with their brand. This would help them further strengthen their marketing and inventory decisions. Furthermore, they can also reduce or eliminate their investments into efforts that do not give the desired results or are seen to not create a satisfactory connect with the customers.


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Back to the Future: 5 Predictions on How the Retail Industry Will Evolve

New technological developments and the latest retail trends have redefined the meaning of ‘shopping’ by creating unique customer experiences. Today, shopping is no longer a monotonous task for consumers with retailers leaving no stone unturned to enhance their shopping experience. Furthermore, the retail industry’s steady migration to online e-commerce platforms has made it vital for brick and mortar retailers to give their customers a reason to come back to the store. Consequently, several retail companies have increasingly turned to modern technologies to help them revolutionize the future of retail. The retailers who thrive in the next decade will be those that re-imagine and align their stores with the digital age. Based on the retail trends and developments in retail technology, industry experts at Quantzig have curated some of the key retail industry trends that will redefine the future of retail: Contact US

End of long-checkout queues 

Bidding adieu to long checkout queues will be one of the most prominent retail trends that will go mainstream in the next couple of years. The future of retail will look more promising than ever before by helping avoid queues and providing customers with a hassle-free shopping experience. Retailers are also looking at the feasibility of payments made via a virtual shopping cart rather than an old-fashioned checkout line. Once this is rolled out to retail stores and becomes fully operational, long queues in checkout counters will soon become history.

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Types of Retail Stores You Will Find Today

If you compare the retail scenario now to that of the early 80’s and 90’s, you will notice a considerable difference in the type of retail stores that exist. One of the main reasons for this change is the rise of the marketing era. Retailers soon began to realize that giving customers differential experiences and offerings is a great way to increase profits. This gave rise to different types of retail establishments that we see today. Depending on the consumers’ behavior and manufacturers’ abilities, there are various types of retail stores which exist in the market. Each of them differentiates themselves from the rest based on the products they offer and thRequest Solution Demoe manner in which it is offered.

7 types of retail stores 

Department stores 

This type of retail outlets is one of the most complex types of establishments that offer a wide range of products. It can be compared to a collection of smaller retail stores managed by one company. Department stores are well-known for offering products at different pricing levels and the variety of products that they offer. Some of the common examples of department stores include Macy’s, Shoppers Stop, and Kohls.

Specialty store 

Specialty stores are one of the popular types of retail establishments which focus on one or two specific categories of products. They are known for having a very narrow product line. A characteristic trait of customers of specialty stores is that they are generally less price-driven. These outlets specialize in a given type of merchandise like men’s clothing, children’s clothing, and sporting goods.

Supermarkets 

Supermarkets are one of the most common types of retail outlets. They are large, departmentalized, self-service stores that specialize in food and some non-food items. FMCG products are the main focus in such stores when compared to consumer durables. Product assortment is given great importance in supermarkets as the products need to be displayed in such a manner that the customer gets attracted to them and they sell faster.

Convenience stores 

Usually located in residential areas, convenience stores offer a limited range of products at premium prices due to the added value of convenience. They are generally small establishments that have limited depth in their product line. Such outlets are known for giving super-fast service with a focused approach.

Discount stores 

As the name clearly suggests, discount stores are one of the most popular types of retail outlets that give considerable discounts on the products that they sell. Discount stores compete on the basis of low prices, high turnover, and high volume. One of the best examples of this type of a retail format is Walmart whose tagline itself says ‘Everyday low prices”.

Hypermarkets or superstores 

Hypermarkets are one step ahead of supermarkets. These stores are huge in size and have many different categories under their belt. These stores are generally not found in malls, rather they are the size of malls themselves. Popular examples of this format of stores are Tesco, Asda, and Costco.

For a visual explanation on the types of retail, check out this video on YouTube: 


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Retail Trends You Can’t Afford to Miss Out on This Year

The world of retail is undoubtedly evolving. Modern customers expect instant gratification, new experiences, and personalization in retail. Given the ample options available to customers today, retail stores are forced to either comply with customers’ requirements or shut-shop. Savvy retailers are constantly keeping track of the current retail trends and quickly pioneering changes, prompting others to adapt or be left behind. What companies need to understand is the fact that today purchasing a product is less of a chore for consumers and more about the experience that they gain. If they are able to create a long-lasting experience in the customers’ mind, then ‘cha-ching’ that’s a sale and a loyal customer right there.  Let’s take a look at the latest retail trends of this year:Request Solution Demo

Re-designing retail stores


As mentioned earlier, one of the most important retail trends at present is to create enhanced customer experiences rather than merely engage in buying and selling of commodities.  Retailers are investing heavily in new and innovative real-estate and in-store strategies that would result in unique experiential moments for their customers. Such retail trends give customers a reason to visit stores beyond merely buying products and engage in building a connection with the brand. For instance, the popular personal care brand Sephora has unleashed Sephora studio, which is a small-format neighborhood concept that features custom makeover services, sampling opportunities, facials, and same-day pickup of online orders.

Augmented reality

Augmented reality has been an on-going part of the retail trends list for quite some time now. But with each passing year, retail stores are finding new ways to infuse this technology into their business. AR technology has gradually moved from in-store to mobile platforms. For instance, Lowes integrated this technology into their mobile app recently. This was done as a way to help customers locate products quickly in their retail stores using turn-by-turn directions.

Personalized experiences

Customers are more likely to stick to a brand who correctly identifies and caters to their needs. Innovative companies are starting to use predictive modeling, machine learning, and artificial intelligence to predict customer behavior and generate right-on-target messaging and product recommendations. For instance, YOOX NET-A-PORTER is an online luxury retailer that uses artificial intelligence and machine learning to personalize the shopping page based on the customer’s future plans such as a vacation, wedding, or a party.

Customer-controlled delivery and return

Today’s customers are quite adamant in their choices.  They want products that suit their exact specifications, within a particular time frame, and in a location of their convenience. Smart movers in the retail industry are heeding to such retail trends and putting control in the customers’ hands. For example, Target is planning to expand their new format TeargetExpress in the years to come. This format involves their buy-online-pick-up-in-store services.


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Related Posts

Top Trends: Demand Forecasting in the Retail Industry

Four Types of Retail Analytics Shaping the Retail Industry

Why Is ‘in-store’ Analytics Key to Unlocking the Retail Industry’s Potential

Marketing Attribution

Channel Optimization Helps A Leading Luxury Products Manufacturer Gain Insights into Ways to Offer Optimal Customer Service Experiences

Client: A leading luxury products manufacturer

Area of engagement: Channel optimization

The global luxury products industry typically comprises of end-user products such as fashion, drinks, fragrances, cosmetics, watches, and jewelry.  The growth of the luxury products industry is marked by the emergence of millennial luxury customer segments, changing consumer behaviors, and increasing international travel. Additionally, factors such as the advances in online markets and the increasing preference of premium products over cost-effective products will contribute to the growth of the luxury products industry. As a result, firms operating this manufacturing space are turning toward the latest retail industry trends to optimize their prices and ranges to ensure balanced growth for both local and international markets.

However, our analysis of the recent retail industry trends indicates that the luxury products manufacturers are facing challenges in terms of:

  • Reduced number of brand and retail outlets: Lately, the luxury products space is witnessing a relatively lesser competition when compared to other global industries. The rising tax affiliated with the luxury products is compelling organizations to sell their products on e-retailing platforms. Additionally, setting up physical store requires high capital investments and protocols from government authorities when compared to the online platforms.
  • Economic uncertainty: The consumer spending habits have greatly affected owing to the recent US presidential election and the Brexit issue. The recent economic fluctuation has lowered customer confidence, and consumers are spending relatively less on luxury products. To counter this situation, firms are forced to sell products at relatively marginal profits, thereby hindering sales of luxury products.

Many such challenges are compelling luxury products manufacturers to leverage the use of channel optimization solutions. QZ- Request free proposalChannel optimization solutions help firms garner information on customer behavior patterns and nurture the most profitable customers. These solutions also help firms effectively manage customer data and streamline workflow efficiencies.

The Business Challenge

The client, a leading luxury products manufacturer with business operations spread across the globe, wanted to identify the channel usage pattern and devise robust channel optimization strategies to maintain optimal performance at all customer checkpoints. This is because the client was facing predicaments designing collaborative channels and promoting multi-channel engagements. The client wanted to understand the latest retail industry trends further and anticipate the future customer behavior.

Want to learn more about how our channel optimization helped the leading luxury products manufacturer gain insights into the latest retail industry trends?

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The Solution and the Business Impact

With the help of Quantzig’s channel optimization solution, the luxury products manufacturing client gained insights into ways to offer optimal customer service experiences. The client also gained a better understanding of diverse customer segments and identified opportunities to enhance workforce interaction. This helped them reduce wait times and cater to the requirements of the customers more efficiently.

Channel Optimization Insights

The channel optimization solutions offered by Quantzig helps firms effectively keep track of the customers in terms of their channel usage, predisposition, and behavior. These solutions also help firms make use of social media platforms to reach out to the customers and offered enhanced, effective, and seamless retailing experience to the customers.


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Quantzig’s Sentiment Analysis Assists a Leading Retail Chain Business to Adjust their Marketing Campaigns & Drive Sales Revenue

The client: Leading retail chain business

Area of engagement: Sentiment analysis

A retail chain, or chain stores, are retail outlets that are centrally managed and usually follow standardized business processes. In the global retail sector, retail chain businesses have started dominating the market across several categories. Additionally, there are two different types of chain stores depending on the kind of products developed by the company. It includes business retail chains and restaurant retail chains. Business retail chains encompass several industries including clothing, music, and electronic stores; whereas, restaurant retail chains operate under different guidelines and are involved in creating different kinds of consumer products when compared with the traditional business chains.

The latest retail industry trends affecting the growth rate of retail chain business can be categorized as below:

  • The omnichannel dilemma: Consumers these days have a number of options when it comes to how they want to shop – be it via television, in-store, mail catalogs, and so on. It is essential for any retail chain to have a robust merchandising strategy that supports this initiative. Such firms should also ensure they make use of all tools to streamline their processes and offer a seamless experience for its
  • Sales and service strategies: One of the key retail industry trends is the use of new sales and service strategies. Retail chains dealing with similar products should necessarily differentiate themselves from their competitors by implementing customer service strategies. Such strategies are aimed at promoting customer loyalty, repeat sales, and offering free returns. The retail chains should ultimately weigh the potential loyalty benefits against their costs to provide better services to its customers.
  • Evolving customer profile: The changing preferences of the customers is one of the key retail industry trends affecting the market space. The consumers of today are well informed owing to the technological advancements and the availability of tools that offer unprecedented access to pricing data, product reviews, and other such information. QZ- Request free proposalThis, combined with the fact that the universe of retail options for many products is seemingly endless given online alternatives, makes it very challenging for retailers to win consumers’ spending dollars.

The Business Challenge:

The client, a leading retail chain firm was facing difficulties in understanding the sentiments of their customers in real-time. Since customers are increasingly expressing their thoughts, desires, and preferences online, the retail chain client was looking at leveraging sentiment analysis to better analyze the needs of their customers. The client was also interested in combining quantitative and the qualitative methods to measure the exact ROI of marketing campaigns. The client also wanted to revamp their marketing strategies and identify new retail industry trends to drive sales and improve business performance.

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The Solution and the Business Impact:

The sentiment analysis solutions offered by our experts helped the retail chain client in optimizing their marketing strategies by listening to what their customers felt about the brand. It also enabled them to implement a short-term marketing campaign to better address the need of the customers and stay updated with the latest retail industry trends. The sentiment analysis solution also allowed the client to leverage social listening and receive real-time updates on negative discussions to respond and address issues immediately.

Sentiment Analysis Solution Predictive Insights:

Quantzig’s sentiment analysis solutions are highly customizable, iterative, and workflow-oriented and are designed to help your organization achieve overall business success. Our solutions combine both qualitative and quantitative methods to help you measure the ROI of your marketing campaigns. Moreover, sentiment analysis serves as a one-stop solution by assisting firms in completing their market research by getting to know what their customers’ opinions are about the products and services and how they can align the quality and features with the needs of their customers.

Sentiment analysis may seem tricky because of the involvement of complex data. Also, it becomes difficult for technology-oriented systems to interpret this complex data within the right context. If you don’t have an accurate sentiment analysis service in place, you may be using the incorrect data to formulate and adjust your marketing campaigns. Thus, pointing out to the fact that human intelligence still provides the most accurate analysis of people’s sentiment.


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