Precision Retailing: Driving Results with Behavioral Insights and Data Analytics

Without a doubt, the COVID-19 era has forced the retail sector to rethink the way it conducts business. Customer experience has largely shifted into the digital realm, and questions have emerged about how to best optimise and evolve business operations in light of this change. Drawing on a host of expert contributors, Precision Retailing takes a broad perspective of precision retailing as the interaction point between individuals, organisations, institutions, systems, and policies that support them in ever-changing contexts. The book assembles precision retailing key concepts, methods, and tools that complement existing behavioural research. The decision support tools will help managers better capture in real-time the multiscale drivers of consumer behaviour and successfully integrate these into their retail strategy and tactics. Each chapter includes a short strategic brief for successful human-centred digital transformation that focuses squarely on actionable insights for practitioners. Shedding light on the way we understand and handle this complex customer journey, Precision Retailing examines how retail will evolve in the post-COVID era, shaping how businesses meet their future, and the inevitable continuation of the digital transition.

Laurette Dube is a professor of marketing, James McGill Chair of Consumer and Lifestyle Psychology and Marketing, and Chair and Scientific Director at the Centre for the Convergence of Health and Economics at McGill University.Maxime C. Cohen is the Scale AI Chair Professor of Retail and Operations Management and Director of Research at McGill University.Nathan Yang is an assistant professor of marketing at the Cornell Dyson School of Applied Economics and Management at Cornell University.Bassem Monla is the Practice Leader for Data, Analytics, and AI at IBM/LGS Quebec and a professor of practice for AI and advanced analytics in the Desautels Faculty of Management at McGill University.