Article | February 18, 2021

Preparing For 2021: What To Do Now For Success

Source: Radial
2021

With a continuation of Covid-19 and new political policies on the horizon, we’re likely in for an interesting year. But that doesn’t mean we need to be reactive. In fact, there are many proactive strategies we can take to make 2021 a positive and profitable year. Here are just a few.  

Embrace Predictive Analytics 

Even though you can’t perfectly predict all the buying habits and consumer behaviors you’ll see this year, you can effectively plan and prepare for the most likely scenarios using predictive analytics.  

With predictive analytics, you can use purchase behaviors from the last few years (including consumer spending habits and channel popularity) to see what might occur this year. You can also break down inventory needs by location based on past holiday seasons and quarterly product demand. And you can review your customers’ preferred fulfillment methods to effectively plan and schedule carriers for package deliveries and new inventory purchases.  

VIEW THE ARTICLE!
Signing up provides unlimited access to:
Signing up provides unlimited access to:
  • Trend and Leadership Articles
  • Case Studies
  • Extensive Product Database
  • Premium Content
HELLO. PLEASE LOG IN. X

Not yet a member of Retail IT Insights? Register today.

ACCOUNT SIGN UP X
Please fill in your account details
Login Information
ACCOUNT SIGN UP

Subscriptions

Sign up for the newsletter that brings you the industry's latest news, technologies, trends and products.

You might also want to: