Potloc Insights

We all know about Target, which lost $2 billion over two years on Canadian soil. Many giants, leaders in their sector, have failed despite their size, resources, and strategy.

In a complex world, being intelligent means ignoring the irrelevant rather than accumulating an abundance of information. Yet retailers rely on increasingly more complex data in order to act. Almost all of their forecasts turn out to be completely wrong, while current forecasts, including the announcement of the death of the retail trade, follow the same path. Here are four golden rules to follow in order to make enlightened decisions in a changing world that nobody seems to understand anymore.

Your study gives you a large amount of data. Here are some tips for understanding and using it.

Amazon entered the food retail space when it launched AmazonFresh in March 2017 and has found other ways to grow its footprint in the sector, acquiring Whole Foods in the process. The retail giant could open 3,000 cashier-less Amazon Go stores by 2021 according to a recent Bloomberg report. New research from RBC Capital Markets even shows that if Amazon opens the projected number of these forward thinking shops by 2021, the company could generate roughly $4.5 billion in sales a year. So… could Amazon Go become the future of retail? Let’s find out.

Many companies already have an omnichannel strategy. Is this the first time you’ve heard these words? If so, then you are part of the 55% of companies that have not developed an omnichannel strategy.

In this modern era, almost everything we do generates data. That includes purchasing goods online and offline. Understanding these huge volumes of data goes beyond human capabilities, hence retailers can deploy machine learning solutions to make sense of these. Let’s explore such developments, methods, and insights that are modernizing the retail sector.