We’ve seen before how RFM (Recency, Frequency, Monetary) technique evolved from mail catalog retailers and its popularity because of its common-sense premise, its rather relative easy statistics associated with it, and the easy availability of the data with most mail-catalogue …
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Snehamoy wrote about the effect on brand equity of offering discounts on a regular basis. We got some great responses to the article. Now the “Smart CEO” magazine has published the same article here.
Indian retailers have been singularly unsuccessful in building national chains. If you take away the large corporate driven initiatives like Reliance, Titan and the Future group, it is hard to find examples of retailers who grew from one store shops …
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How Kirana (Mom and Pop retail) stores are using a hybrid online/offline model to provide value added customer service in India Even before the controversy surrounding the relaxation of FDI norms in Retail exploded in India and obituaries for Kirana …
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Peter Fader, a quantitative marketing professor from Wharton, believes that companies are unnecessarily complicating the job of making predictions. Simple probability models, often built in excel, can be far more powerful in many cases than complex statistical algorithms. He also …
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When does it make sense for a retailer to switch to a POS system? Actually, every retailer already has a system to manage transactions. This might be as simple as ledger entries or even counting everything that got sold and …
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POS stands for point of sale. The time-space moment when the cashier presses the “Total” button on his register and the bill whirrs forth from the spool. Or, in the virtual arena, after the short wait as your credit card …
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