Understanding Customer Behavior Through Retail Analytics

Retail Analytics is analyzing customer transactions from point-of-sale systems. This provides a wealth of useful data on what products are selling, when purchases happen, average order values and more. Transaction data can reveal the impact of promotions, seasonality, competition and other factors on purchasing behavior.

Today's customers seamlessly transition between physical stores, websites and apps based on context and convenience. Analytics helps retailers understand how channels integrate and complement each other in the customer lifecycle. It reveals factors like showrooming tendencies, preferences for in-store pickup versus delivery and cross-channel path to purchase.

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Rental Commerce is Driven by Sustainability
The global tuxedo rental market is estimated to be valued at US$ 822.3 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.

Tuxedo Rental Market Growth is number of weddings and proms across the world is fueling demand for market. Additionally, the expanding online presence of rental retailers is facilitating the global expansion of the tuxedo rental market.

Growing demand in the market is attributed to rising disposable incomes, increasing urbanization, and preference for renting occasion wear over ownership. Rising numbers of wedding ceremonies all over the world also provide a predictable and steady demand stream for rental tuxedos.

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