Lululemon's best days were thought to be behind them. The yoga-pants peddler is well on its way to becoming a global force. Their stock price reflected the recent earnings call, netting a nearly 10 pt growth in a day.
The new, not-so-secret weapon for retailers is data. WGSN Head of Market Intelligence Lorna Hall reveals the key ways it's transforming sales and the consumer experience. An advocate for data in retail, it hasn't all been positive. Maybe the brick and mortar industry is not quite ready for it.
The e-commerce platform provider introduces a new logo and messaging aimed at better reaching bigger online retailers, ranging between $1M and $20M per year. Essentially, they are aiming to dethrone Shopify Plus as the enterprise solution for young, hyper-growth companies.
MapD, a startup with a cloud-based data analytics service powered by a GPU-enabled database, is announcing today a $10 million funding round. This sounds really boring until you realize that the days of graphs and charts are about to be behind us, for good.
Algorithms analyzing massive amounts of data make decisions about what we see online. Self-learning algorithms are driving other products like Google Now and Facebook’s recently updated notifications tab. It’s still early days for smart algorithms in notifications but luckily the data needed for intelligent, predictive notifications is already available.
Hotels aren't the only places that will benefit from the new feature. If you book your ride through Zomato's restaurant app, once you've gotten your ride, you can check the menu on the drive over. That way you don't have to spend another 5-10 minutes looking it over and deciding what to eat, once you get seated.
A last word: DOMO FOMO
Data science is an effective practice at many large corporations. Companies like Domo are making dataviz easier to incorporate in smaller business environments. But one place where data may be hurting business? Major, brick and mortar-first retailers. In the next day or so, 2PML will explore how data collection is tarnishing the brick and mortar experience and leading more consumers to select eCommerce as their first option. Companies who project a premium eCommerce experience - from start to finish - will become more attractive to consumers who once fancied trips to the mall.