Retail analytics can help improve marketing strategies and ensure businesses are following the best paths to secure sales and repeat customers. As more consumers and businesses use a larger variety of electronic devices, it's important to take all these channels into consideration when compiling data.

This network of Internet-enabled devices, often known as "the Internet of Things," holds the potential to influence marketing strategies in many ways. According to Marketing Magazine, there are ecommerce software offerings that allow retailers to collect data about their customers, which could help to personalize the shopping experience. This trend will likely continue upward as technology becomes more connected.

Retail Gazette reported that experts have projected the total number of connected devices in use to reach 75 billion by 2020. At the same time, the Internet of Things is expected to grow 31 percent annually, which means retail management software should be leveraged to take advantage of this trend.

Retailers can track which devices their customers use to browse their ecommerce stores and versus which they use to make purchases. Armed with this data, businesses can determine which channels should emphasize the site experience and which need more attention to be placed on the point of sale.

This entry was posted by Retail Pro on Thursday, May 1st, 2014 at 11:49 am .