From streamlining the process of inventory management to preventing the growth of counterfeit products, RFID is gaining immense popularity.
In today’s data-driven economy, existing business models are unreliable, and thus Analytics ensures that businesses gain access to up-to-date information. These advancements gather data from sources such as customer interactions, website visits and social media. As a result, firms can acquire new and retain current customers with ease and increase the overall revenue generated.
As store visitors reduce, the need to identify current trends is more important than ever to instill customer confidence. Industry experts believe that gathering, storing and processing footfall data allows retailers to launch measures to ensure long-term business continuity.
Usage of data analytics such as footfall, heatmapping and people counting has made it simpler for businesses to gain knowledge if the introduction of a marketing strategy has been successful or not, it also helps in simplifying staffing as well as promotion decisions.