Big Data isnt making an impact just in e-commerce, its also changing how traditional, brick-and-mortar stores are doing business. With the popularity and ease of online shopping, its more important than ever that these b&m stores find ways to be innovative and unique. Theyve got to give consumers a reason to come back, in person, not just online. Big Data and Hadoop in the cloud can do that for these companies.
How?
Store Layout
Design may not be everything in a store, but its definitely an important aspect. Students at Brigham Young University recently developed a technology for museums that allows them to track where guests are in the museum, how long they stay there and if they return to visit or not. This kind of technology would be extremely beneficial to stores as well, especially when it comes to store design and layout. Companies can easily view which areas of the store are most frequented and least frequented and then look to understand why. Stores already place high priority in layout, but with Big Data they can do it even better. And when the factors between success and failure are nominal, a successful layout can make all the difference.
Better Inventory
Its rare to see a company that has a b&m store but not an online presence. Because of that, businesses should be using both b&m and online stores to find an advantage and bring more success. With Big Data companies can track consumer purchases both in the store and online in an unprecedented way, and get feedback that is extremely precise. With that information, companies can then improve the inventory at the b&m stores. A better inventory increases the consumer experience, and it leads to less waste.
Less Waste
A common problem for companies in most industries is surplus product. Unfortunately it is stuff theyve already purchased, and in order to get rid of it they have to give it away for free or sell it at a steep discount either way the company loses big time. Its a win for the consumer, but its a big hit to the company and one that with Big Data they can increasingly avoid. Using more precise tracking on whats ordered and whats purchased, companies can ensure they dont over order. This should significantly decrease company waste and increase profits. No company will be perfect, and there will always be waste, but they can do better. This is especially vital in grocery stores where perishable products go to waste in awful abundance each day.
Better Resource Management
How many times have you gone to a store thats extremely busy and shamefully understaffed? Or it could have been the opposite, a store was deserted but there were numerous workers with nothing to do. Either way its a bad sign for the company. With Big Data monitoring companies can have a much better idea of when they need to be fully staffed and when they dont. Some of the times are obvious like holidays and weekends, but what will set a business apart is its ability to successfully predict the less obvious times. It saves the company money and it saves the employees time.
More Efficient Customer Experience
Companies can use Big Data to help customers find what they need faster, get in and out of the store faster, get through lines quicker and pay for their items quicker. It can enhance and speed up the overall experience, which in todays fast-paced environment is more important than ever.
Brick-and-mortar stores can completely change how they do things by implementing Big Data. Not only will it make the stores more efficient and effective, but it will also improve the customer experience from beginning to end. By improving the experience in the store, companies will also improve traffic online. They win on both ends of the spectrum, and most importantly theyll keep the consumer coming back for more.
