APT SVP Jonathan Marek discusses the importance of having lots of ideas to try so that executives can confidently invest in the ones that work best, while refining or discarding the ideas that aren’t profitable.
From front-end products such as online banking and mobile payments to back-end operations such as processing transactions, leading banks continue to seek centralized, automated solutions to maximize efficiency.
However, wealth management practices and operations remain significantly less centralized. There is still a lot of debate regarding the efficiencies that can be gained by streamlining financial advisor operations through corporate resources. (more…)
APT Vice President Faruk Abdullah discusses ways in which retailers can use advanced analytics to maximize their store space productivity.
SupermarketNews recently published an article aimed at uncovering current grocery consumer trends, based on a new survey of grocery shoppers. As for the results, they found a mixed bag. While over half of online grocery shoppers are increasing the total amount of groceries they purchase online, most consumers continue to shop at multiple brick-and-mortar stores to fulfill all of their grocery needs. Indeed, a paltry 13% of survey respondents reported that they complete their grocery shopping at just one store.
What do these results mean? (more…)
Amazon recently announced that it will begin offering free same-day shipping for prime members in 14 markets in the United States. With the onslaught of competitive actions from all channels, it’s no surprise that 21% of retailers report that online-only players are their biggest threat this year.* While it is clear that Amazon’s action will not affect every organization equally, it’s critical for each retailer to understand how their business will be impacted by such competitive actions and how they should profitably respond. Retail executives need to answer three questions, including: (more…)
APT announced today that the APT Index of in-store retail sales increased [+0.4%] nationwide in May 2015, compared to May of last year. APT Index retail sales were up [+1.0%] on Mother’s Day Weekend and down [-0.7%] on Memorial Day Weekend. Click here to read the full report.
In his recently published article in Supermarket News, APT VP Jeff Campbell discusses how grocers should manage the risks and rewards of store upgrades.
Campbell outlines three questions to which grocers must know the answer to achieve the best returns on these large projects:
- What is the incremental impact of the initiative?
- What is the economic contribution of each element of the initiative?
- How will returns vary in different locations and markets?
“As grocers try to transform their stores into local destination spots, they must be able to innovate quickly. However, facilitating any proposed change haphazardly can lead to significant erosion to a company’s bottom line and reputation. To minimize the likelihood of incurring unnecessary costs or tarnishing the brand, grocers should test each new strategy on a smaller scale first to determine its true incremental impact. Executives can then act confidently in response to these data-driven insights — re-allocating funds to ideas that work and cutting investments to those that don’t,” Campbell concludes.
Click here to read the full article.
APT announced today that the APT Index of in-store retail sales for April 2015 decreased [-1.0%] nationwide, compared to April of last year. The APT Index of in-store apparel sales was down [-3.6%], though APT reported online apparel sales up [+2.8%] in April, as digital channels become a larger portion of total sales. Click here to read the full report.
A recent Wall Street Journal article, “How Store Know What You Want When You Shop,” discusses how leading apparel retailers are using Test & Learn to analyze their data to inform key decisions about discounts, product placement and styles, and much more.
As author Christina Binkley writes, “APT is a specialist in cause-and-effect analytics, which is at the forefront of the revolution that so-called big data is bringing to industries like retail, which have been run more by gut feel than science…It may evaluate where products are displayed, a discount amount, or the colors popular in Atlanta versus Chicago. This is helping the apparel industry fine-tune its pitches to consumers.”
Read the full article here. (WSJ login required.)