S2 / E5 The science behind precision retailing - Rand Merchant Bank (rmb.co.za)

On this episode of the podcast series, we are joined by Chris Steyn, Shoprite Technology’s Head of Data Analytics. Serving over 24 million customers in nearly 3 000 stores, with in excess of 25 000 points of sale and 100 000 articles moving through these points, data presents very exciting opportunities for the Shoprite Group and the chance to execute their strategy of becoming smarter. From a data analytics perspective, Chris believes a focus on customer-centricity and the enablement of precision retailing is essential. Customers need to have a rewarding experience when they interact — is the product available, is the quality of the highest standard, is the pricing correct and the in-store experience enjoyable? With precision retailing, it’s all about infusing more science into the decision-making process such as inventory control, wastage and shrinkage, quality control on fresh produce etc. With so many moving parts, there are many opportunities to mine different data assets that currently exist within the organisation.

In order for data to be collected and made useable, many years have been spent on standardising the data pipelines to ensure they are complete, timeous and of a high quality. This led to a data bulk architecture with different channels, exposing more data assets to more of the organisation. ShopriteX is a new digital innovation unit that aims to marry data science, technology and talent with customer-focus at its core; consolidating all the business entities with an emphasis on commerce, rewards, and personalisation.

The focus for retail is the evolution of customers from single to multi-channel and how this activity is tracked and monitored. Location analysis, the introduction of augmented reality in different forms, and the concept of customer offer engines are very important. The old systems targeted the masses, whereas now it’s all about tailoring to the individual customer needs and desires. Shoprite continues to invest more in outside intelligence, and favours an ecosystem where exploration, ideation, research and experimentation is encouraged. They have a saying – productionise your curiosity; create a workforce that is challenging every single norm that exists within the current landscape. For organisations going forward, Chris feels it’s all about investment in human talent and potential and creating an environment where people can be informed, educated and inspired.

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