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Retail Analytics provides a clear guide to the specific analytical challenges faced by the retail sector, particularly around the nature and scale of the data obtained in transactions, relative proximity to the consumer, and the need to monitor customer behaviour across multiple channels. Because retail is focused on product categories this book advocates a category management approach, taking into account the need to understand the consumer mindset via elasticity modelling and discount strategies, as well as targeted marketing and loyalty design. A practical, no-nonsense approach to complex scenarios is utilised throughout, breaking down tasks into easily digestible steps, illustrating key points with clear explanations, both as text and diagrams, and showing how it all works in practice with the pervasive example of Scott, the analyst tasked with providing data-driven solutions to his retailer employer. This book does not skirt around the complexities of this subject, but offers gently conceptual support to steer retail marketers towards making the right choices for analysing their data. About the Series: The Marketing Science series makes difficult topics accessible to marketing students and practitioners by grounding them in business reality. Each book is written by an expert in the field and includes case studies and illustrations enabling marketers to gain confidence in applying the tools and techniques and in commissioning external research.
