In today’s highly competitive retail industry, it’s more important than ever for retailers to understand their customers, optimize operations, and create personalized experiences that drive sales growth. That’s where Xperium comes in.
Xperium offers a range of solutions designed to help retailers gain insights into customer behavior, optimize operations, and enhance the customer experience.
In this blog, we’ll explore why Xperium is necessary in today’s retail industry and how it can help retailers stay ahead of the curve.
Customer Analytics
Xperium’s customer analytics capabilities are critical for retailers looking to gain insights into customer behavior, preferences, and buying patterns. By analyzing data from multiple touchpoints, including in-store and online, retailers can gain a deep understanding of their customers and create targeted marketing campaigns, optimize store layouts, and enhance the customer experience.
According to a report by Grand View Research, the global retail analytics market size is expected to reach USD 21.10 billion by 2028, growing at a CAGR of 20.5% from 2021 to 2028.
The report suggests that retailers are increasingly adopting analytics solutions to gain insights into customer behavior, optimize store operations, and enhance the customer experience
Personalization
Personalization is increasingly important to today’s consumers.
A survey conducted by Salesforce found that 79% of consumers are willing to share their data with retailers if it means receiving personalized experiences.
Xperium’s personalization capabilities allow retailers to create personalized recommendations, offers, and promotions that are tailored to each customer’s preferences and interests. By doing so, retailers can increase customer engagement, loyalty, and ultimately drive sales growth.
According to a report by Deloitte, retailers who use data analytics to personalize the customer experience see a 2.7x increase in customer retention rates and a 30% increase in lifetime customer value.
Mobile Engagement
With more and more customers using their mobile devices to shop, mobile engagement has become essential for retailers. Xperium’s mobile engagement platform allows retailers to engage with customers on their mobile devices using location-based data and push notifications. By sending personalized messages, promotions, and alerts to customers, retailers can increase customer engagement and drive foot traffic to their stores.
According to a report by Mobile Marketer, push notifications have a 50% higher open rate compared to email.
This presents an opportunity for retailers to engage with customers through push notifications on their mobile devices, increasing the chances of the customer taking action.
Inventory Management
Effective inventory management is critical for retailers looking to minimize costs and maximize sales. Xperium can help retailers manage their inventory levels more efficiently. By analyzing sales data in real-time, retailers can ensure that they have the right products in stock, reduce overstocking and stockouts, and minimize the cost of carrying excess inventory.
A report by McKinsey & Company found that retailers can reduce their inventory carrying costs by 20-30% by implementing better inventory management practices.
Loyalty Programs
Xperium’s loyalty program can help retailers create and manage loyalty programs. By analyzing customer data and behavior, retailers can create personalized rewards and incentives that drive customer engagement and loyalty.
According to a survey by Invesp, 44% of consumers say they are more likely to return to a store that offers a loyalty program.
Conclusion
Xperium is necessary in today’s retail industry as it offers a range of solutions designed to help retailers gain insights into customer behavior, optimize operations, and enhance the customer experience. With the retail analytics market size expected to reach USD 21.10 billion by 2028, retailers who don’t adopt analytics solutions like Xperium risk falling behind their competitors. By leveraging Xperium’s capabilities, retailers can stay ahead of the curve and drive sales growth by creating personalized experiences that increase customer engagement and loyalty.