Walmart customer analysis
Walmart customer analysis
Low unemployment during the recession led to lower disposable income which in turn led to lower spending by people and financial loss for the retail industry. It serves its customers under 65 banners in 28 countries through its stores and e-commerce websites. Jaya Kolhatkar, Vice President of Global Data for walmartlabs At the National Retail Federation's NRF Big Show conference in NYC, Kolhatkar discussed how walmartlabs created a structure around its large volume of shopping data and about the culture that enables data scientists and engineers to use data to quickly build and launch new shopping experiences to customers. Together, these tools provide powerful social insights. A familiar example of effective data mining through association rule learning technique at Walmart is — finding that Strawberry pop-tarts sales increased by 7 times before a Hurricane. It is known for helping Americans save money, buy more with their money and live better lives. These maps specify the exact location where a small bar of soap resides in the widespread Walmart store.
This application then sends a gift voucher to the customer to compensate the price difference. It even named its king-sized mattresses Supreme Queen.
While it has managed its reputation and image somewhat better during the recent years, it will need to focus more on CSR, ethics and HR management to shed its old image completely.
A stronger dollar can have an adverse impact on the profit of the American brands.
Walmart competitive analysis
With real-time processing for thousands of transactions, it also helps reduce item-return fraud. Big data solutions at Walmart are developed with the intent of redesigning global websites and building innovative applications to customize shopping experience for customers whilst increasing logistics efficiency. During the recession, its growth was affected by the decline in disposable income across households. Her advice? Industry Demand Determinants and Profitability drivers: There are several factors that affect demand and drive profitability in the retail industry. The secret to successful retailing of Walmart lies in delivering the right product at the right place and at the right time. The growth of e-commerce is also a sign that a large part of the retail battle will be found online in coming years. The Global Customer Insights analysis estimates that Walmart sees close to , social mentions every week. No other direct competitor, except Amazon , has made it to the Forbes list of the top 50 most valuable brands. With tons of unstructured data being generated every hour, Walmart is improving its operational efficiency by leveraging big data analytics. Apart from reducing the transportation and storage costs, it also reduces inefficiencies in the system and Walmart stores are replenished easily and immediately. It serves its customers under 65 banners in 28 countries through its stores and e-commerce websites.
And Amazon remains a market darling. Walmart Core Competence: The core competence of Walmart is its everyday low prices that it has used to grow its market share by increasing customer base.
Its e-commerce segment has seen fast growth in sales. Those steps enable them to make data available for multiple users without worrying about violating privacy issues.
Apart from economic and technological, there are demographic factors that also affect demand in the retail industry. Putting all of their customer data together is working.
based on 31 review