APT SVP Jonathan Marek recently wrote an article for QSR Magazine about five trends restaurants can expect in 2014. These trends include taking advantage of mobile ordering, profiting from variable pricing, growing slower dayparts, managing labor costs, and better understanding the effectiveness of daily deals. Click here to read the article.
Fast fashion brands have become leaders in time-to-market, but their analytic decision-making processes may not be keeping up with their agile production systems.
Though fast fashion may be a key sales driver, many retailers may now be moving so fast that they forget to answer such important question as:
- Which products have the highest rest-of-basket sales?
- Which products are being purchased alone and could benefit from new adjacencies, suggestive selling, etc.?
- Which SKUs can be rationalized to make room for new products?
Currently, answering these questions is difficult because data often lives in disparate places, takes a long time to analyze, and analytic insights are not actionable. However, a number of leading retailers are now leveraging new software and data technologies, which enable them to move beyond basic reporting (e.g. the new top was our 2nd best seller this week) to rapid reporting of basket- and customer-level information.
For example, executives may initially see that a top is selling very well; however, further analysis could show that the top is generally sold alone. Such a finding would suggest an immediate opportunity to increase basket size by merchandising items closer to the top, having associates use suggestive selling techniques, etc.
Retailers who are able to efficiently isolate actionable basket- and customer-level recommendations from their Big Data will gain significant advantage over their competitors.
APT SVP Will Weidman’s article about the top five retail banking trends for 2014 was recently featured in Banking Strategies. Trends for the new year include more targeted advertising and the bifurcation of the branch. Click here to read more.
Data released today from the APT Index shows that 2013 Black Friday sales in the US rose 2.1% year-over-year. This increase was driven by temperature over Black Friday weekend (warmer areas fared better) and median income (areas with a median household income of less than $75,000/year performed better). The best-performing metro areas in the US, based on change in comp sales included Riverside, CA (up 8%); San Antonio (up 6.9%); and San Diego (up 5.7%). The cities that saw the worst performance year-over-year included New York (-2.3%); Baltimore (-2.0%); and Washington (up 0.3%). Click here to read more about Black Friday performance.
The APT Index measures retail sales performance, based on a subset of APT’s $2 trillion in sales data –$1 of every $5 of retail sales— by aggregating data from sales registers at over 50,000+ retail and restaurant locations across the US to show how year-over-year performance changes for same store sales in the physical channel for retail.
The APT Index examined Black Friday weekend 2013, including sales on Thursday November 28th, Friday November 29th, and Saturday November 30th.
APT SVP Will Weidman talks about how apparel retailers can use Test & Learn software to choose the most profitable inventory level by item and by location.