Announcing the Dinner


Thought Leadership Dinner On Customer-Centric Merchandising and Category Management


In the wake of latest industry events including Amazon’s acquisition of Whole Foods and its impact on retail, the Research division of Ensemble IQ is hosting an exclusive thought leadership dinner for a select group of executives

Read More

Served from Blog


Is Digital Transformation working in the Path-To-Purchase Journey? – Part 1


It is a well known fact that the emergence of online shopping has drastically changed the way we shop and besides brick and mortal stores, online shopping plays a very important role for every brand…..

Read More

Point of View


Lamps Plus : A Case Study-Led Approach to PLM Success


This report entails some key insights from the conversation between EKN’s principal analyst & CFO of a leading lighting retailer operating in US……

Read More

Served from blog


2016 Wrap-Up & 2017 Retail Industry Outlook


While 2016 was a pretty good year for US retail, for most retailers a repeat of 2016 growth will be not be easy replicate in 2017. After all, it is a transition year and as new economic and fiscal policies get activated….

Read More

Point of View


The changing role of the store: Is your workforce ready?


Due to rapidly changing role of store on account of advent of disruptive digital technologies, retailers are contemplating or implementing store transformations and finding themselves in a tough spot….

Read More

LATEST RESEARCH

Foundation for Digital Transformation

Consumer expectations for applications, digital solutions and networking systems initiatives within retail are constantly evolving and present a unique set of challenges and opportunities for cutting-edge retailers. Download this e-Book presented by EIQ Research and Infovista and discover how investing in backend firepower allows retailers to meet changing shopper demands and power their digital transformation. Download Full...

Changing the In-Store Experience Forever

Strategic Product Marketing Executive of Infovista Network Performance Solutions, Ricardo Belmar, discusses digital transformation in retail and how it is changing the in-store customer experience highlighted with some industry examples. Download Full...

Competing in the Age of Amazon – Profitable Category Diversification & Expansion Leveraging Customer Insight

A closer look at the category management process of Amazon reveals the customer-centric approach they have adopted while efficiently planning the category development process. This ebook discusses how retailers and suppliers have the opportunity to tap into this category development and optimization opportunity window and emerge as the leaders in their respective categories and markets. Download Full...

Strategies for agile, profitable and secure omnichannel execution

The surge in omnichannel commerce has redefined the way retailers interact with customers. In the pursuit to remain competitive and increase the customer base, retailers have mostly focused on front-end strategies to grab customer attention.However, of late, they have also realized the importance of an integrated order fulfillment and secure back-end process for seamless omnichannel execution.This report entails the various strategies that aid them to do so. Download Full...

Trends in e-commerce & digital fraud: Mitigating the risks

E-commerce, online, web-connected device (i.e. Internet of Things) related fraud is witnessing an upward trend, with merchants experiencing revenue loss as a result of fraudulent transactions. This ebook entails how fraud affects e-commerce business and the various methods and trends in this scenario. It also discusses how retailers are tackling online or e-commerce fraud issues along with providing recommendations for them to prevent fraud. Download Full...

FROM OUR BLOG

AI’s role in changing the outlook of the retail industry

Artificial Intelligence is defined as the study of “intelligent agents” and takes place when a device perceives its environment and takes actions that maximize its chance of success at some goal. Colloquially, the term “artificial intelligence” is applied when a machine mimics “cognitive” functions that humans associate with other human minds, such as “learning” and “problem solving.” While traditional data mining extracts data for humans to analyze, AI draws conclusions on its own. AI churns complex data to re-engineer simpler and more streamlined experiences for both retailers and customers at every touch point. AI uses predictive models and machine-learning to advance company strategy and relieve end-user efforts. Research shows that over 45% US retailers plan to use AI in next 3 years. In retail, AI arms retailers with sharper forecasting tools to make smarter business decisions. The use of algorithms increase visibility into ROI implications, translating to results like lower costs and higher sales. AI has brought positive disruption to the retail sector by improving efficiency and it is predicted that by 2020, 85% of customer interactions will be managed by AI. Based on a recent survey, 70% of US millennials and 62% of millennials in the UK say they would appreciate a brand or retailer using AI technology to show interesting products. Below are some of the ways in which AI is helping retail: Inventory effectiveness – Inaccurate inventory management is a high risk for retailers since having too much of inventory is a costly affair, while merchandise being out-of-stock leads to lost sales and customer frustration. The use of AI systems in inventory management reduces the uncertainty...

The Impact of Customer Analytics on Assortment

One of the most vital factors for every retailer to be successful is that they must possess the right inventory and assortment mix. Irrespective of the fact that they might be located at a busy mall or that they may have an engaging presence on social media, what matters the most is that they stock relevant products for their target customers. To add to that, online retail gives customers to chance to buy their desired product from a variety of websites, thus making assortment optimization a key priority for all retailers. The key to effective assortment optimization and achieving maximum sales is to delve into customer data and analytics to grasp useful insights. These analytics enable retailers to identify profitable growth opportunities to make the right retail decisions with the help of customer-centric merchandising. The importance of customer-centric merchandising For effective merchandising, retailers need to use customer data and buying behaviour and integrate those insights assortments and promotions. A prime aspect here is creating localized assortments as this aids retailers to determine which products to offer at which locations and through which medium. According to the EIQ Customer-Centric Merchandising and Category Management Survey, 2017, a whopping 73% of retailers attempt to customize their processes at a local or store level benefit from an increase in overall customer satisfaction. Customer-centric promotions also play an important role in assortment and customer-centric merchandising as these help retailers tap into specific customer segments after studying their buying behaviour. Metrics such as lifestyle and life stage aid retailers to place customers in specific segments and effectively design promotions for them. Thus, the buying behaviour...

The Evolution of Retailtainment: The Face of Retail Real Estate is Changing

With hundreds of stores and malls putting down their shutters, 2017 is certainly a bit of a setback. Whether it’s big names like JC Penney, Macy’s and Sears announcing store closures and numerous other like Payless and Rue 21 filing for bankruptcy, this situation is being coined as the great retail apocalypse of 2017. Retail may be having a meltdown at the moment but at the same time, this does not mean that retailers are going to shy away from brick and mortar. According to EKN’s research on The Changing Role of the Store – Is Your Workforce Ready, by 2020, traditional sales processes will reduce in importance in terms of what retailers expect from stores. At the top will be theme-based stores, fulfilment centers and pop-ups. With disruptive changes occurring in the retail industry, retailers and its workforce need to prepare for and embrace evolving retail formats and technologies to offer customers a unique and frictionless shopping experience. FTI Consulting’s 2016 Retail Outlook Report, shows that 63% of shoppers still prefer to touch and experience the product. Thus, a vast number of shoppers still prefer shopping in stores and online shopping cannot replace the allure of the shopping mall. So, what are retailers and developers doing to attract more shoppers to malls? Retailtainment is the answer. Retailtainment is the concept of adding entertainment and experiences to the retail mix. This trend started a while ago since malls started adding typical forms of entertainment and leisure activities, like gaming arcades, bowling alleys, and movie theatres to that attract consumers. Today, entertainment concepts have evolved beyond the movie theater and...

SOCIAL FEEDS

TWEETS

ABOUT EKN

EKN is a boutique research and advisory firm focused on business-technology insights in the consumer industries of retail, consumer goods, travel and hospitality. Our goal is to fill a gap in the industry by offering prescriptive insights on topics of greatest importance to our audience, and to assist business and technology executives in discovering disruptive technologies and vendors.