Accurate, real-time store data can help retailers uncover micro-seasonal trends and accurately align supply with demand. This is key to the future success and efficiency of big box stores. In our report, titled ‘The Rise of the Micro-Season’, we're exploring how changing customer habits have created a new definition of seasonal shopping and what retailers can do to adapt. Even if customer basket sizes decrease (due to more frequent shopping trips), real-time store data enables retailers to make the most of short-lived buying occasions. This could be pizza-and-beverages on a Friday night to healthy meal-prep ingredients on Sunday afternoons.
Here's what our European Managing Director and VP of Global Sales, Red McKay, at Bossa Nova, said:
Although micro-seasons have always existed to some extent, the rise of convenience-led shopping and the availability of in-store data mean they represent an untapped growth area for retailers. In the same way that traditional calendar events such as Christmas and Easter provide sales opportunities so too can micro-seasons even if they only last a few hours in any given day. Knowing when people are likely to buy certain products means that big box and convenience stores alike can be agile in responding to demand.
The findings come at a time when, despite the proliferation of discount and convenience stores, supermarkets and hypermarkets will still account for half of the grocery market by 2024. Red adds:
Micro-seasonal trends may differ from store to store, depending on its location (urban vs rural, residential vs business district), as well as the time of year and weather. By tapping into the data, and making informed decisions, major stores can be as agile and competitive as their discount and online counterparts.
To see if Bossa Nova's cutting-edge autonomous inventory data solution is right for your retail operations, contact one of our in-house retail experts today.
Read our first white paper here on why automation is the key to retail's future.