Retail execs to invest excess cash in analytics: KPMG survey

Share this content:

Though retailers don't foresee the economy recovering in the next year or two, most are set to spend excess cash on analytics tools to better target existing customers with effective retention tactics, according to KPMG survey conducted from May until June among 100 senior retail industry executives.

Forty-seven percent of respondents plan to invest in back-end information technology this year, while only 29% listed geographic expansion, the next most popular spending area, as a place to invest cash this year.

Despite only 4% of executives expecting significant revenue increases, 72% reported an abundance of cash on hand, with just over two-thirds of respondents labeling analytics a core component of strategy and planning.

That retail and advertising efforts are evolving toward a more measurable model is nothing new, but an industry-wide investment in CRM should be a boon for analytics service agencies as well as bigger agency players rushing to add data capabilities to creative service models. Will social CRM play a starring role by this time next year, or will retailers look to old reliables like email and direct mail to bring offers to returning customers?

DMNotes is DMN's around-the-clock blog. Yes, a blog in 2016.

Bookmark this section and follow our RSS Feed here

close

Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above