Gartner estimates that the fragmented but quickly consolidating customer experience and relationship management software market generates $50BN in revenue per year and is growing at a 15% compound annual growth rate. If we add the additional investment in IT, human capital, and creative development, brands invest well over $100BN per year to deliver relevant and valuable experiences to their customers.
Staying up to date on the latest retail tech and thinking through the possibilities and implications for our clients' businesses is one of the more exciting things we get to do. That's why we look forward to reading what's hot, what's not, and what's hype in Forrester's annual "What's Hot And What's Not In Retail Tech For 2020".
CPG companies are increasingly harnessing growing volumes of consumer data through online marketing and direct-to-consumer sales platforms. These companies can enhance their trade promotion activities through artificial intelligence and machine learning, but they must collaborate with retailers to do so. Together, the two can better identify ineffective promotions, forecast more accurately and optimize promotions to generate an optimal sales fit.
Q3/Q4 earnings results are in for most of the leading publicly traded restaurant brands in the US. While some brands, such as Starbucks, Dunkin, and Chipotle reported strong sales and earnings growth, others such as McDonald’s, Darden, and Yum (the parent brand of Taco Bell, KFC, Pizza Hut, and WingStreet) missed the mark. What has separated the winners from the losers?
Have you noticed that simply “buying a new tool” is never as simple as simply buying a new tool?