• About
  • Advertise
  • Careers
  • Contact Us
Tuesday, June 24, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home News

Understanding the Future of Retail in a Data-driven World

by Peter Oluka
January 14, 2023
in News
0
Retail in a Data-driven World
Enzo Krypton

Understanding the Future of Retail in a Data-driven World

UBA
Advertisements

Retail success in a highly interconnected, data-driven world requires a balance of multiple dimensions, including providing value to customers at the right time and in the right place, while also reducing friction, and increasing engagement.

This is according to some of the findings in the ‘Future of retail’ e-book that contains insights from retail and consumer packaged goods experts recently published by global analytics leader SAS.

Online and digital are the fastest growing channels for retailers globally. This means resilience of the supply chain is critical to deliver the outcomes that customers have come to expect of a digital marketplace.

As part of this, the customer experience which is driven by instant gratification means retailers are finding it challenging to grow sales while still remaining profitable.

ALSO READ: How to Give Your Retail Store a Competitive Edge

“Technology plays a significant role in accelerating the shift to refocus on a connected environment. Increasingly, retailers will come to rely on the value of automation and modelling with artificial intelligence while also leveraging the cloud to better analyse the rapid increase in data points. Fundamentally, this requires retailers to move away from their siloed approach to business. Instead, the focus will be on benefitting from the richness that integrated data across the organisation can provide,” says Antonio Calvo, senior manager, Global Retail and CPG Practice SAS.

Prioritising sustainability

Beyond providing an enhanced customer experience, retailers must also content with consumers who are expecting stores and brands to lower their carbon footprint and improve sustainability.

One of the ways retailers can do this is to reduce the use of carbonised energy in manufacturing and logistical processes. For instance, using electric trucks powered by solar energy or buying at local suppliers rather than purchasing from overseas.

Another way to promote sustainability is to improve the efficiency of the manufacturing and supply chain processes. Supply chains, even very efficient ones, generate a significant amount of waste. Focusing on manufacturing and supply chain efficiency enables the retailer to improve both profitability and sustainability.

“Underpinning this is to use analytics that can deal with the complexities of the modern retail environment. Forecasting and process optimisation are two of the benefits of getting a better understanding of the data already available to retailers. In fact, retailers are sitting on a gold mine of data waiting to be examined, understood, and exploited to benefit both the organisation and its customers,” adds Calvo.

Read the full results and the rest of the trends in the SAS ‘Future of retail’ e-book here.

Loading

Advertisements
MTN ADS

Author

  • Peter Oluka
    Peter Oluka

    Peter Oluka (@peterolukai), editor of Techeconomy, is a multi-award winner practicing Journalist. Peter’s media practice cuts across Media Relations | Marketing| Advertising, other Communications interests. Contact: peter.oluka@techeconomy.ng

    View all posts
0Shares
Peter Oluka

Peter Oluka

Peter Oluka (@peterolukai), editor of Techeconomy, is a multi-award winner practicing Journalist. Peter’s media practice cuts across Media Relations | Marketing| Advertising, other Communications interests. Contact: peter.oluka@techeconomy.ng

Next Post
WEF 2023: Peter Herweck, CEO, AVEVA

WEF 2023: AVEVA’s CEO, Peter Herweck, to Spotlight Benefits of Industrial Digital Transformation for a Low Carbon World

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

UNN SUG appoints Kingsley Adonu as Patron

UNN SUG Appoints S Mobile Boss, Kingsley Adonu, as Patron

1 year ago
9mobile at 2024 BNI National Business Conference

Tech, Creative Sectors Can Drive Nigeria’s Sustainable Non-Oil Exports – 9mobile CEO

9 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.