Retail Analytics and the State of the Online and In-Store Retail Market
It is no secret that retail companies feel the pressure of increased online shopping activity and the convenience of ‘same day delivery’. However, brick and mortar retail is alive and well as consumers continue to spend more in-store and new store openings remain at a ~4,000 net positive, according to IHL Group. From legacy big-box retailers to young direct-to-consumer brands, there is a growing need to leverage technology in order to marry online and in-store shopping and to survive in a consumer-centric market. It is no longer enough to have the cheapest prices or best products as consumers now consider the entire shopping experience – a brand’s ability to “know the customer” and make the experience as seamless as possible. Thus, new technologies are emerging that allow retailers to predict customer preference and behavior, operate and deliver product more nimbly and offer an overall in-store experience that is more than just a typical sale.
To capitalize on this trend, Catalyst is exploring the Retail Analytics space defined as the technologies that brands and retailers leverage to increase the likelihood of initial and repeat purchases (store management, sales and marketing, finance and inventory, customer experience, pure-play analytics, etc.). In other words, Retail Analytics includes all software and tech-enabled tools that allow retailers to evolve and survive in an ever-competitive consumer market.
At Catalyst, we employ a proactive, research-based approach to investing, targeting sectors experiencing outstanding growth. If you are an owner or operator of a growth stage company in the Retail Analytics space, we would like to hear from you. Please send inquiries and business plans to [email protected].