At TRUNO, we have a lot to be thankful for: our customers, our partners and all the great folks who make up the TRUNO team. But we’re also thankful for data, because it drives so much of what we do as a company and how we’re able to help retailers thrive.
As we get further into this holiday season, data is playing an increasingly important role within the grocery store. Armed with information about customer purchasing patterns from previous years, grocers are able to order the ideal quantities of seasonal items, which means they’re better prepared to stock customers the traditional ingredients customers need to prepare a delicious Thanksgiving feast.
Of course, grocers ordered these items months ago, but now that they’ve arrived, retailers can also use data to determine the optimal location of each item within the store. For example, by analyzing the information available through a retailer’s loyalty program, they can identify combinations of items customers frequently purchase together this time of year. With that in mind, grocers can place those items together on the same aisle end cap in a particular section of the store. This added convenience not only improves the customer experience, it potentially increases basket size.
Data also helps grocers staff each department with enough team members to handle the increased store traffic that accompanies the holiday season. By integrating the point of sale system with their scheduling solution, retailers can make better predictions about the holiday rush. Data allows grocers to staff up for peak traffic on a particular day of the week, time of day, and even down to the specific departments that will be most impacted. And with advanced sales forecasting, they can predict sales for each hour within 98.73% accuracy.
After the holiday rush is over, grocers can again turn to data to decide what promotions to run and when, helping them sell any remaining seasonal items and avoid inventory shrinkage.
But it’s not enough to have access to data after-the-fact—retailers need accurate and timely data in order to make the right decisions in real time about their products, staff and customers. Real-time views into ordering, receiving, and inventory across multiple stores give them the visibility they need to make the right business decisions.
What are you thankful for this holiday season? If data isn’t on the list, let TRUNO help you unlock the potential of business intelligence for your store.
