7 Drivers of Retail & Fusion Expertise
The most valuable insights are uncovered when patterns that have not been seen, appear. These can be identified by interrogating independent data sets; however, the most compelling insights arrive when multiple data sets are compared or “fused”.
Fusion Analytics has evolved this craft and is the leader in providing unique insights to the Retail Industry.
Fusion is an advanced retail analytics firm specializing in Measuring and Prioritizing. For over 15 years, we have been diagnosing business drivers and evaluating investment outcomes across all elements of the enterprise for clients such as Walmart, IKEA, Home Depot, Canadian Tire and many more.
Unlike other vendors that only provide insights on a specific topic, Fusion is unique in that we take a holistic view of the business, providing a fully fused and triangulated story - the One-Version-of-the-Truth.
Other vendors and internal teams would tell you about each component of your business separately. But, at face value, the insights from these separate measurements often contradict each other. Fusion integrates and investigates all available data sources to give you full clarity on the big picture. We do this by mathematically fusing over 73 data sources via our proprietary AI model built off Bayesian statistics. A wholly different statistical paradigm from traditional methods, Bayesian statistics has been explored and validated for three centuries but has only recently become practical with advances in AI.
With a team of 51 data scientists & retail experts, Fusion provides the metrics you need to both prioritize your strategic investments and monitor your growth. Our goal, together, is to enable better decisions by delivering:
We measure your entire enterprise - category coverage for your total store, E-comm and Brick & Mortar.
We triangulate all data inputs so they “talk” to each other. This allows for the most accurate, objective, and relational measurement of the 7 retail growth influencers - Industry, Network, Brand, Visit Drivers, Merchandising, User Experience, and Customer Experience.
Retail Influence Causation
We tell you which retail growth influencer will drive the most growth, along with Return on Investment.
Total Market Sizing
Fusion measures the entire market. We triangulate multiple data sets to ensure we are not restricted by the coverage of a single data set. This is critical to ensure your business has no blind spots. Not only do we fully measure the categories you are in, but also provide insight into the categories that you do not trade-in so you can investigate growth opportunities.
Quantify market size and industry trends from
macroeconomic factors, including:
“I have money to spend” This metric quantifies how much money Canadians have in their wallet to potentially spend. The metric incorporates population growth, growth in incomes, as well as any changes to cost of living. Its raw data components are sourced from Statistics Canada and then fused in Fusion's industry machine learning model.
“I have reason to spend” This metric quantifies which retail industries are in higher consumer demand. Spending Demand factors in category influencers such as weather, seasonality, COVID-19, home turnover, holidays and events, substitution, and other category factors such as product availability.
Trade Area / Real Estate:
Consumers' “willingness to travel to my store”, is the distance consumers are willing to travel to make a purchase. Consumers’ willingness to travel” is based on the products they want to buy. Travel distance is also influenced by density zone such as rural, suburban, suburban core, urban and urban core.
Competitors’ trade area coverage is analyzed to identify opportunities for expansion.
Own store network is also analyzed to model the revenue impact of store openings and closures sizing potential sister-store cannibalization.
Delivery network “Website delivers to my home”
Brand Health can be investigated deeper by identifying:
"I am emotionally open to liking this Retailer”. Metrics are provided to ensure the retailer’s brand positioning minimizes consumers with a low emotional sentiment that would prevent openness towards the retailer.
“I know this Retailer has actually what I want”. How functionally aligned is the retailer to the consumer. Attributes and Drivers such as Product Quality, Produce Assortment, Latest and Hottest products, Great Styles and Designs, and importance of Brand Names are measured, and priorities identified.
“This Retailer is more convenient to shop at than any other store”
“I always get a good deal when I go to this Retailer”
Consumer Price Sensitivity
Merchandising + Conversion
“There’s always new items to discover and
try when I go to this Retailer”
Learn & Discover Index
- % of consumers who prefer to touch & feel before purchasing (skews Brick & Mortar)
- % of consumers who know exactly which item they want (skews E-comm)
“This Retailer has the item I want in the exact
colour, size, and style that I want”
- Quality Ladder (good, better, best)
- Brand Names & Private/White Label Mix
- Inventory / In-stock
- Cross-shop Index
- Merchandising Depth
“I feel confident that I am paying a good price”
- Every Day Low Price
- Price Match
- In-store Promotions
- Loyalty Programs/Promotions
“The store/website is beautiful, and I can easily find what I need”
“This Retailer provides services and options that make my