Retail is changing faster than retailers can react, and the numbers prove it.
Global retail sales crossed USD 30 trillion in 2024, while over 2.6 billion consumers shop online monthly. In a landscape where expectations shift overnight and margins fluctuate sharply, benchmarking is the engine of long-term competitiveness.
Retailers that benchmark consistently outperform peers in profitability, customer loyalty, and operational resilience. The reason is simple: they make decisions based on proven best practices, not assumptions.
Challenges Retailers Face Today
- Supply Chain Volatility: Global supply chain disruptions cost retailers over USD 1.9 trillion in 2023.
- Margin Pressure & Inefficient Promotions: Retailers spend USD 500 billion annually on promotions, yet nearly 50% deliver no incremental ROI.
- Customer Experience Gaps: A single poor experience causes 32% of consumers to switch brands.
- Slow Technology Adoption: Only 35% of retailers use AI for demand forecasting despite global benefits.
Nexdigm’s Retail Competitive Intelligence Approach
At Nexdigm, we combine data-driven benchmarking with deep Retail industry intelligence to help retailers strengthen competitiveness. Our approach goes beyond collecting numbers, we decode why certain competitors outperform and translate those insights into practical strategies.
Key pillars of our Retail Competitive Intelligence approach include:
- Customized Benchmarking Frameworks: Tailored to retail sub-sectors such as fashion, grocery, consumer electronics, and e-commerce, ensuring relevance to business priorities.
- 360° Competitor Intelligence: Tracking competitor pricing, assortment strategies, store formats, promotions, digital adoption, and customer engagement to uncover actionable insights.
- Operational Performance Mapping: Benchmarking critical KPIs such as inventory turnover, fulfillment efficiency, and checkout speed against best-in-class players.
- Technology & Innovation Assessment: Evaluating how peers leverage automation, AI, and digital solutions to drive customer experience and reduce costs.
- Strategic Advisory Overlay: Turning raw benchmarking data into decision-ready insights that guide market entry, expansion, and operational excellence.
Through this integrated approach, Nexdigm empowers retailers to not just identify gaps, but also build sustainable competitive advantage by adopting strategies that are proven, scalable, and future-ready.
Key Retail Areas Where Benchmarking Builds Competitiveness
Business process benchmarking in retail creates impact across multiple operational and strategic fronts. By aligning processes with best-in-class practices, retailers can close performance gaps and future-proof their business. Some of the critical areas where benchmarking builds competitiveness include:
- Omnichannel Experience: Seamless journeys across web, app, store, and delivery channels — benchmarked against global leaders for UX, speed, and consistency.
- Supply Chain & Fulfillment: Improving inventory availability, order accuracy, and delivery SLAs by comparing best practices across high-performing retailers.
- Pricing & Promotion Strategy: Recalibrating pricing logic, markdown cycles, and loyalty incentives against industry leaders to improve margins without losing customers.
- Customer Experience & Engagement: Benchmarking personalization, service responsiveness, returns experience, and satisfaction benchmarks to strengthen retention.
- Technology & Innovation Adoption: Ensuring retailers adopt AI, automation, and digital tools that deliver measurable ROI — not just emerging trends.
Nexdigm Case
A regional fashion retailer saw declining store conversions and slow replenishment cycles. Nexdigm benchmarked 11 global competitors, mapped pricing gaps, and redesigned inventory workflows. The impact: a 18% improvement in sell-through and a 22% jump in online-to-store conversions within six months.
To take the next step, simply visit our Request a Consultation page and share your requirements with us.
Harsh Mittal
+91-8422857704