Survey: Ascertaining customer preference, and delivering on that preference, top concerns for retailers
MIAMI — While out-of-stock items and inventory performance remain top of mind, retailers' concerns about understanding customer preferences — along with their own ability to respond to those preferences with new ideas about pricing and promotions — have become top business challenges, according to a survey of 96 retailers published Wednesday by Retail Systems Research.
According to the survey, 34% of all respondents plan to optimize their assortments against new key customer segments in the coming year. Another 24% plan to include initial price optimization in their processes in 2013, and 22% will incorporate promotion optimization.
The report is part of RSR Research's ongoing efforts to provide market intelligence on retail technology trends and can be downloaded here.