Macy’s and Sears might not be psychics or fortune-tellers, but that doesn’t mean they can’t predict the future.
Retail predictive analytics is going to determine where salespeople stand, displays are constructed and sales end. Big data is coming to a store near you soon. In fact, soon the store is simply physical manifestation of the web. Here are a few of the implications of that idea brainstormed with my brother Drew who works for Southern Season:
* Store sets are more fluid changing daily if needed.
* New kinds of fixturing will be needed.
* Firewall between web and store won't exist.
* Showrooming will be made moot.
* Pricing with intelligent RFID-like tags will be dynamic.
* New in-store tech to facilitate pricing arbitrage.
* New in-store GPS will help shoppers find what they need.
* Promotions go real time and mobile via predictive analytics.
* Payment becomes more phone less credit card and NO cash.
* Intelligent merchandising systems fuse web-like reviews into retail.
Going to be Minority Report cool and all brought to you by a startup company near you.