Retail analytics can also be useful for a portion of the retail ecosphere that is often overlooked: buyers and planners. The telling data and insights can help buyers and planners make better and more timely decisions in what can be a very subjective art.
Maneuvering through the legal and regulatory minefield around customer data is a growing concern among retailers. In fact, regulatory concerns are the second largest impediment to data collection and analysis for retailers with data volume claiming the title of being the biggest barrier for retailers across U.S. and Europe.
Customers have shown concern about businesses using physical tracking - but they might feel differently if they knew the data that was being used.
Euclid Express has made its retail tracking technology available for free, aiming to make customer monitoring mainstream.
Brick-and-mortar retailers are increasingly implementing in-store analytics to better understand customer behavior.