The retail sector in Mexico has experienced constant evolution in recent years and technology has been at the center of this process. Artificial intelligence and big data have played a crucial role in the way retail companies interact with their customers, manage their inventories and make business decisions to boost their competitiveness and respond to market demands. 2022 was a great year for retailers in Mexico. According to the Mexican Association of Online Sales (AMVO), retailers achieved a 23% increase in their sales, reaching a value of $528,000 million pesos. A significant increase for the industry, three times more than what was in 2019, before the pandemic.
The scenario remains positive in 2023
Looking ahead to 2024 , where it is that online sales. As well as those made through catalogues , call centers. Or even door-to-door, that is, all those that do not are carrie out in physical stores. Increase between 10% and 12%. This growth brings new challenges for the industry. As the retail sector in Mexico continues its technology-driven evolution. There are significant challenges that companies must address Argentina Mobile Number Database to maintain their sustainable growth and competitive advantage. The power of data in the retail industry At the heart of the technological revolution in the retail sector is big data. Retail businesses generate a massive amount of data every day, from point-of-sale transactions to online interactions. This data is a goldmine of information that can be used to understand customers, optimize processes, and make informed decisions.
Big data allows retail companies to efficiently
Collect, analyze and visualize large sets of data. This, in turn, allows them to identify trends, forecast demand, and personalize the customer experience. With advanced data analytics, retailers can segment their customers into more. Specific groups, offer personalized recommendations, and Greece Phone Number adjust their pricing strategies more effectively. Furthermore, to drive business value derived from data analytics in the retail sector, it is essential to leverage collected information strategically. A prominent example is customer traffic analysis, known as ‘People Tracking’. By using customer tracking systems in physical stores or monitoring online behaviors, companies can identify movement patterns, preferences, and purchasing trends.