Magazine Article | December 16, 2015

Innovation In 2016: Driving The Customer Experience

Source: Innovative Retail Technologies

By Erin Harris, Editor-In-Chief, Cell & Gene
Follow Me On Twitter @ErinHarris_1

January 2016 Innovative Retail Technologies

As 2016 gets underway, retailers must be well past the point of retail-as-usual. We’re in an industry in transition, and, as such, I’d like to share some transformative trends that innovators will leverage to shape customer engagement in 2016.

Predictive Analytics And Machine Learning
Predictive analytics aren’t new — remember a few years back when Target used predictive analytics to promote pregnancy products to a young teenage woman whose parents didn’t know she was pregnant? Predictive data — and the means retailers use to analyze it — has matured, and retailers can rely on the analytics to avoid markdowns and out-of-stocks as well as optimize prices and purchase quantities.