Seventy-five percent of retailers claim that customer-centric strategies create significant to above-average in-store customer performance improvements. But our research has found that while retailers understand the value of customer-centric category planning, many don’t quite have the capability to execute it. This happens for a variety of reasons, including inconsistent or incomplete data, and lack of collaboration among business functions. But there is one key limitation uniting them all: outdated legacy infrastructure.
To reap the rewards of leveraging shopper insight to instantly inform decision-making, retailers need to move beyond the limitations of traditional legacy system and manual process approaches. Fortunately, only two in 10 retailers will still manage on-premise solution models within 24 months, compared with nine in 10 today.
In a guest post for RIS News, I broke down many of the roadblocks that limit retailers from improving customer centricity, and explain how cloud-based, SaaS models integrating AI-enabled, data-driven solutions make better use of omni-channel data to make your business more predictive of consumer-driven trends and prescriptive in leveraging that insight to scale faster and upgrade capabilities in real-time.
- Read our guest post on RIS News, Supercharge Your Customer-Centric Category Planning with Artificial intelligence.
- Discover how 100+ retailers in the US and Europe are prioritizing their category management processes in our latest research.
- Learn how Symphony RetailAI can help you execute more customer-centric category planning initiatives with its solutions for retailers and for manufacturers.