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UID:20260705T082815EDT-58141Pxgti@132.216.98.100
DTSTAMP:20260705T122815Z
DESCRIPTION:The Value of Online Interactions for Store Execution\n\nPresent
 ed by Felipe Caro\n\nAnderson School of Management - UCLA\n\nThis is joint
  work with Victor Martínez-de-Albéniz (IESE) and Borja Apaolaza (Wharton)
 \n\nDate: Friday\, March 1\, 2024\n	Time: 10:00 am -11:00 am\n	Location: Bro
 nfman building\, room 310\n\n\n	Problem definition\n\n	Omnichannel retailers
  interact with customers both online and offline. So far\, they have used 
 this richer information to optimize the sales process by designing the rig
 ht channel and supply chain structures\, and by personalizing offer\, pric
 ing and promotions. We advance an additional dimension of omnichannel valu
 e: retailers can use online clickstreams to better understand customer nee
 ds and optimize store layouts to maximize conversion. Methodology/results:
  We develop a model where in-store purchases depend on the customer’s shop
 ping list\, and the effort required to locate and reach the products withi
 n the store. Category location in the store thus drives conversion. We the
 n apply our model to a large home improvement retailer and find that shopp
 ers’ preferences are revealed by nearby online traffic\, and hard-to-reach
  locations lead to lower conversion. Finally\, we optimize category-locati
 on assignments using our demand model and find that putting higher-interes
 t and higher-price items in the most effective locations can increase reve
 nues by about 2% in comparison with models that ignore online clicks. Mana
 gerial implications: We show how using online clickstream information for 
 optimizing offline operations can create significant value. More fundament
 ally\, our results provide a word of caution that in some retail segments 
 like home improvement\, longer in-store paths might not necessarily be bet
 ter.\n\n
DTSTART:20240301T190000Z
DTEND:20240301T194500Z
LOCATION:Room 310\, Bronfman Building\, CA\, QC\, Montreal\, H3A 1G5\, 1001
  rue Sherbrooke Ouest
SUMMARY:Analytics\,  Advanced Digital Technologies and AI Initiative (AAAI)
  Guest Speaker: Felipe Caro
URL:/desautels/channels/event/analytics-advanced-digit
 al-technologies-and-ai-initiative-aaai-guest-speaker-felipe-caro-355711
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