LEADERSHIP
32 same amount . In fact , if you reduce their amount of shelf space , they may still sell the same amount ,” he explains . “ Using our technology and using some really clever data science , we ’ re able to start to identify the products that are elastic and increase their share of that shelf and at the same time we can also identify products that are inelastic and can reduce their shelf space . This means we can actually get more sales from the same amount of shelf area .”
The advent of e-commerce has undoubtedly changed the brickand-mortar business for good but physical retailers have one key advantage over their online counterparts : physical availability .
If you need a product and there ’ s a store nearby , you can get the item in a matter of minutes . This is part of brick-and-mortar retail ’ s competitive edge and should not be taken lightly .
By combining this with emerging technologies , brick-and-mortar retailers have the opportunity to deliver seamless , omnichannel shopping experiences and this is critical for the market today .
“ I think that the coming together of e-commerce and retail is accelerating ,”
AUGUST 2018