How Alibaba & TMIC Help Retailers Understand Local Demand & Turn Big Profits
In today’s competitive landscape, an innovative product development strategy hinges on a retailer’s ability to uncover hidden consumer demand patterns. Machine learning algorithms are the conduit through which retailers process consumer purchase data to uncover critical insights about what products customers in a specific market want most. Chinese e-commerce giant Alibaba is at the forefront […]
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How CB4 Improves Communication in Retail Between Management and Store Teams
Teamwork and communication in retail settings can seem like an unwinnable battle. Your average sales associate or store manager often feels like corporate employees sit in a castle in the sky. Likewise, store managers are swamped with back-office work, and may lose focus on training initiatives that their associates need. Opportunities for relationship-building are few […]
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How to Increase Convenience Store Sales by Converting Fuel-Only Customers
According to the most recent data from the US Energy Information Administration (EIA), Americans purchase 140.43 billion gallons of gas in a single year. That’s a lot of trips to the pump—but not necessarily to the convenience stores they’re attached to. In fact, despite all these fuel purchases, nearly 75% of customers aren’t venturing past […]
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How to Cut Costs Without Sacrificing Customer Experience in Retail
With increasingly slim profit margins, brick-and-mortar retailers are searching for ways to cut costs. While upping your prices and shedding employees are some obvious cost saving ideas in retail, doing so puts you at risk for disappointing customers and sending them into your competitors’ loving arms. According to a recent study by McKinsey, the most […]
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