Creating an Interconnected Customer Experience
Omni is latin for “all”. Omni-channel retailing is the next evolution of multi-channel retailing.
Omni-channel retailing has galvanized an industry and its leaders, created a new energy
and spawned a plethora of innovation all designed to provide a meaningful shopping experience.
One of the fundamental building blocks for retail success in omni-channel retailing is big data.
In isolation, however, big data is not the solution. The solution requires tools and analytics which
leverage information across channels, generate actionable intelligence for merchants and ultimately
create a consistent brand and shopping experience that drives loyalty and sales. Some retailers refer
to it as creating an “interconnected customer experience”.
Clear Demand takes an “omni-view” of the retail supply chain; yet we are fiercely practical
about the innovation that individual companies can provide, reliably. Based on a declared
specialization in pricing, promotions and markdowns, we advance a vision for omni-channel pricing
architecture which fully leverages big data.
In this practical vision for omni-channel pricing technology, big data and the engines required to analyze big data, facilitate a tighter alignment between customer demand, pricing strategy and evolved pricing tools. Omni-channel analytics which utilize among other things, online metrics and online competitive prices, enhance customer demand models. Omni-channel customer demand – properly analyzed –has become more transparent, creating a greater opportunity to “dial in” pricing strategy and rules. And finally, pricing strategy and rules now have more complexity; requiring more intelligence in administering pricing rules and increased compliance for utilizing optimization science.
Pricing, like the balance of the merchandising toolkit, has been forced to evolve, and evolve it has.