Retail Strategy | ART Software Group https://www.artsoftwaregroup.com The ART of Experience in Software Wed, 30 Jun 2021 07:50:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.5 https://www.artsoftwaregroup.com/wp-content/uploads/2019/03/cropped-art-icon-32x32.png Retail Strategy | ART Software Group https://www.artsoftwaregroup.com 32 32 How landlords & managers are using data to get first off the blocks in retail’s new even playing field https://www.artsoftwaregroup.com/how-landlords-managers-are-using-data-to-get-first-off-the-blocks-in-retails-new-even-playing-field/ Tue, 29 Jun 2021 16:43:54 +0000 https://www.artsoftwaregroup.com/?p=7229

Retail and leisure destinations find themselves at a similar point – all looking to build back better in the race to robust recovery. We are seeing an exciting appetite for technology and innovation to elevate recovery. From retail destinations with the right data solutions in place that are seeing even greater benefits, to shopping and leisure locations that are reopening or opening for the first time with highly considered tools to get the right start and measure progress and potential. 

It’s true that analytics have been a hot topic for a while, but now, as everyone starts from a pretty even playing field it is essential to utilise the benefits that technology can offer in giving high streets, retail destinations, and individual stores a competitive advantage in their revitalisation strategy.

Retail real estate faces challenges, but with them come some exciting growth opportunities. The last year has shown customers how precious physical experiences are and the importance of human interaction – be it with other people, products, or brands. We are on track for a return in retail as destination retreats as tourists come back, and there is equally a trending opportunity towards retail real estate come enticing workspaces. Like the most effective properties, the most efficient data also has a well designed structure, which should be tailored to answer the individual needs and vision of a site. New and innovative concepts that seek to extrapolate information from unusual data sources or to understand performance from a completely new perspective may enhance your overall strategic options. However, even your core data, once it is being reliably collected, can quickly help you craft the unique appeal of your destination by connecting different data points for consistent learning.

Retail Data Analytics strategy Retail Advantage

Analytics in the right arms at the right moment give landlords and management teams a true picture of what is happening at any given moment. This provides greater flexibility to capitalise on what activities and tenant mixes are working, and when it is necessary to adapt. Wherever you are in your data strategy, our complete retail performance management platform Retail Advantage can arm you with the tools you need to get off the blocks fast and support a revitalised vision.

We would like to hear your goals, and share our experience in building the right data strategy with technology that delivers for the unique identity of each retail space. Get in touch to discuss your data strategy.

 

The post How landlords & managers are using data to get first off the blocks in retail’s new even playing field first appeared on ART Software Group.]]> Shopping is shifting, industry trends are accelerating – How do retail destinations pave the road ahead? https://www.artsoftwaregroup.com/shopping-is-shifting-industry-trends-are-accelerating-how-do-retail-destinations-pave-the-road-ahead/ Fri, 12 Feb 2021 10:11:24 +0000 https://www.artsoftwaregroup.com/?p=7007 Innovation is vital for stores to capitalise on the change in behaviour while consumers adapt and shop differently.  However, trend forecasts for the retail industry can concentrate too much on seeking something otherworldly. Sometimes there is a revolutionary concept that nobody envisaged before, but more often than not, the most effective innovations are practical solutions […]

The post Shopping is shifting, industry trends are accelerating – How do retail destinations pave the road ahead? first appeared on ART Software Group.]]> Innovation is vital for stores to capitalise on the change in behaviour while consumers adapt and shop differently.  However, trend forecasts for the retail industry can concentrate too much on seeking something otherworldly. Sometimes there is a revolutionary concept that nobody envisaged before, but more often than not, the most effective innovations are practical solutions that genuinely help to make the work that is already being done easier and faster. 

We at ART Software group have been working closely with retail and leisure destinations for 20 years, and the need for faster understanding for teams to capitalise and adapt strategies is only increasing, so here we layout some practical pillars for retail’s road ahead. 

To innovate requires sharp understanding of the reality

Metrics that provide visibility on how a site or a portfolio of retail destinations are working, where they can be improved and what is missing is essential. Without the right reporting in place teams cannot scout or measure innovations that truly add value. 

Our mission has always been to deliver practical connection through the right tools for each task or role, and this people-centric approach is proving even more important as digital environments evolve. Our experience has helped us craft a blend of different reporting features that generate better results by pulling in key components that fuel understanding and drive performance in retail and leisure spaces. There is pressure to innovate, but the foundation for this starts with effective measurement of what is really happening on the front lines.

A dashboard is only as good as the data that is powering it

Dashboards may be a great way of seeing status at a glance, but a dashboard is only as good as the data that is powering it. Our PropTech solution Retail Advantage includes dashboards of course, but what sets the product apart are the different industry focused tools with accurate presentation and correlation of useful data that enables people to quickly get to important detail. 

In February’s edition of RLI, ART’s Director Gareth Jordan highlighted the potential opportunities offered by taking a pragmatic view with accurate data: “With our history in solutions that support performance-linked leases, Retail Advantage has been particularly beneficial for those that are testing and implementing new lease structures, where clearly measuring different metrics and their impact on performance may well be the way forward for the industry.”

In touch but touchless 

The trend towards touchless environments also featured in RLI in their ‘Global 2021 Retail Forecast – A Case For Optimism.’  The report highlighted the acceleration of consumers using their smartphones to interact with store environments. We absolutely see this happening, but this is not only the age of the connected consumer, we are also big advocates of more connected working for tenants, leasing, marketing and management teams. The productivity and performance of any brand or retail site relies on efficient access to strategic detail; through analytics. Now you can expect insights that drive decision making, share understanding with brand partners and access engaging communication feeds that support strategy and operational efficiency, from on or off-site. 

2021 will be about helping people emerge with keen plans to build on and develop the successes that lie ahead. Get in touch to discuss your roadmap.

The post Shopping is shifting, industry trends are accelerating – How do retail destinations pave the road ahead? first appeared on ART Software Group.]]>