JUNE 2021retailtechinsights.com9Using the early movers' data, retailers can understand the nuances of flow in a digital world. By adjusting line plans for more balanced and constant deliveries, servicing a buy now, wear now shopper unlocks benefits--two of the most critical, engaging with audiences and inventory turns.Building contactable consumer bases become a top priority for retailers; delivering stories frequently creates further opportunities to engage with audiences. In turn, allowing them to effectively find products that maximize or reach new consumer bases and build repeat visitors.On the other hand, inventory, a key indicator in a retailer's health, demands the utmost scrutiny while placing buys. By turning products faster, inventory risks in any particular style become more mitigated. Balancing shortened product lifecycles with the constant flow of new product creates inventory agility.A consistent flow that services a buy now, wear now, consumer mindset is the beginning foundation of winning with a digitally-led assortment. However, the underlying capability to take this approach from operational to optimal is data. Gaining Agility With Data by Powering Up Business and Creative TeamsThe ability to understand who your consumer is, what they want, and how they shop will define which retailers survive and potentially flourish in a post-COVID marketplace. There is no shortage of data available in the current day for every retailer, especially in the world of e-commerce. However, sifting through to pull out impactful points becomes a formidable task even for the most experienced analyst. Consequently, some of the most useful data is discarded or overlooked.By unlocking each function's ability to utilize data in a way that makes sense to them creates agile organizations that put the consumer at the center. Building teams that create collaborative environments, with data engineers and the business/creatives can drive pivotal consumer-led strategies.Born in digital retailers tend to be built as data-driven engines, utilizing evolved KPI's and tools to aid in decision making. Albeit, traditional retailers still have organizational mindsets, tools, and structures that support the B&M business from the past. Rethinking workflows, what data is used, and evolved KPI's will allow teams to hypothesize, test, and react in record time.
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