Tag Archives: Retail

Deloitte | Retail & Distribution

For everyone in the holiday sales arena, particularly all of our retail small businesses.

Articles Included – Insights
Excerpt:

No debate here — shoppers’ spirits are brighterDeloitte’s 2012 annual holiday survey: Omnichannel shoppers to spend 71 percent more on gifts than store-only shoppers.

Mobile retailing: Are you ready for radical change? Mobile technology is affecting many parts of a retailer’s business: from inventory management to cross-channel integration, talent recruitment, and more. This report outlines seven important mobile retailing implications that are emerging as universal.

Retail global expansion For retailers, entering new foreign markets is not as simple as signing a lease and opening the doors. Deloitte examines three primary market-entry methods, franchising, joint venture and owned expansion, and explores the potential trade-offs that each model presents.

The dawn of mobile influence Mobile is having a major impact on store-based sales and its influence is increasing. Deloitte examines the current and potential future effect of mobile on traditional in-store sales.

Pricing from ahead: Helping retailers win in the age of the connected consumerAccess to information through digital technology has changed the tide in retail. How might retailers build an effective pricing strategy to address today’s connected consumer and achieve positive business results?

Check out the articles on November update via Deloitte | Retail & Distribution.

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Google Is Testing Same-Day Delivery for Shoppers

Competition heats up with same day delivery in the works by major companies and retailers.

Excerpt:   Google is now in the same-day delivery business. In San Francisco, some people affiliated with Google can buy a product, using their phones or computers, and have it delivered to their homes in a matter of hours.Plans for the new service have been under way for more than a year. But it recently went live for some Google employees and their friends, according to two people briefed on the service who were not authorized to discuss it because Google has not yet publicly introduced it. At least one national apparel chain is involved, one of these people said. A Google spokesman, Nate Tyler, declined to comment.Google is just one company tackling same-day delivery. So are Wal-Mart Stores, Amazon.com, eBay and the United States Postal Service.

Read full article via Google Is Testing Same-Day Delivery for Shoppers – NYTimes.com.

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Which Mobile Channel Will Reign This Holiday Season?

Want to put your efforts in the most popular mobile channels for the coming holiday season — read some study help in choosing.

Excerpt:   This holiday season marketers are going to be using different mobile channels such as QR codes, mobile advertising, SMS and applications to drive in-store traffic, engagement and sales. However, which one will lead the pack? Mobile has changed over the years. Retailers such as Target and Starbucks are using mobile to interact with consumers on a deeper level. “If the recent CMO Council survey is to be believed, you can ask whether marketers are looking at the holiday season differently this year,” said Jeff Hasen, chief marketing officer at HipCricket, New York.

Read full article via Which mobile channel will reign this holiday season? – Mobile Marketer – Content.

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Know Your Customers Wherever They Are – HBR

Good read on today’s customer actions in buying a product.   Business needs to address how to collect and use the data.  Sales

Excerpt: Jane wants to buy a TV and starts her shopping journey with a Google search. She finds an electronics review site, clicks on a banner ad, reads about the product details, and decides to go into the store to see the model. She speaks with a sales associate and posts a picture of the TV on Facebook for her friends’ feedback. She also uses her smartphone to do a quick price comparison, and scans the QR code to get additional product information.

Welcome to problem #1 for retailers: The company knows that a potential customer has interacted with it across a lot of touch points but it has no idea that all these interactions are with Jane. It can track each of these interactions across touchpoints, but doesn’t know how to tie them to an individual customer. Since each touchpoint yields a particular piece of data, this becomes a complex data management challenge.

Retailers are desperate to unlock this intelligence so they can make more personalized offers. Research shows that personalization can deliver five to eight times the ROI on marketing spend and lift sales 10% or more.

Here are four keys to tracking today’s multichannel customers.

Read full article via Know Your Customers Wherever They Are – Josh Leibowitz, Kelly Ungerman and Maher Masri – Harvard Business Review.

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15 Fresh Resources for Increasing Ecommerce Conversions

Recommended for 15 resource links with good information each.  Website, retail, ecommerce — getting ready for the Holiday Season.

Excerpt:  So apparently no one knows how to spell Ecommerce correctly (eCommerce, E-Commerce, e-Commerce, ECommerce) having said that, after reading these 15 recent & insightful posts you’ll be such an e-whatever expert that you won’t care how it’s spelled.

Read list and links here via 15 Fresh Resources for Increasing Ecommerce Conversions | Unbounce.

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How to Increase eCommerce Conversions during the 2012 Holiday Season

Good detail and examples in this how-to article for all ecommerce.

Excerpt:  Even though it’s just now October, this is the time to start thinking about ways to attract shoppers and boost conversions over the upcoming holidays. Competition is going to be fierce, particularly online where offers of free shipping have consistently trumped all other holiday promotions in the past. Online retailers have set the bar for what gets customers to convert, and they are considering sweetening the deal with free returns as well.

But even with these best practices in place, what else can you do to make sure your holiday ecommerce launches are a success? Here are a few up and coming trends to consider:

Read full article via How to Increase eCommerce Conversions during the 2012 Holiday Season. From KISSmetrics

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The Logic Behind E-Tailers’ Mercurial Pricing – HBR

Hey guys, did you know this?   I can say as a consumer I was aware but this article is really a heads up that is far beyond my awareness.  As an retailer, are you matching your competitors in taking advantage offered with the internet marketplace?  Recommended read from either consumer or retailer side of the fence!

 Excerpt:  The Wall Street Journal recently broke a story which revealed two surprises about the pricing practices of Internet retailers: Prices change often and widely. The Wall Street Journal highlighted, for example, the range of prices for a GE microwave. In one day, sellers on Amazon.com changed their prices nine times, resulting in prices fluctuating between $744.46 and $871.49. During that same period, rival Best Buy raised its price on the same kitchen appliance to $899.99 and then later dropped it to $809.99.

So what’s going on here?

Internet retailers have discovered that the web is a perfect setting to optimize prices. It is almost costless for e-tailers to change prices, and it’s equally easy to measure customer reactions. Given this fertile price-changing environment, Internet retailers are varying prices for 5 key reasons:

Read full article via The Logic Behind E-Tailers’ Mercurial Pricing – Rafi Mohammed – Harvard Business Review.

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Turning the Retail ‘Showrooming Effect’ into a Value-add – Knowledge@Australian School of Business

For all commerce small businesses everywhere, this is a good read.  How do you now deal and profit from the growing “showrooming”?   As a consumer, I think the ability to shop for the best at the best price is fantastic, of course.  However, if I were to look at this issue from the retailer’s side of the fence, it can be a large cost to provide products that are “viewed” there but bought elsewhere.

Excerpt:  Showrooming – the consumer practice of checking out a product in one store and buying it elsewhere at a better price – has always been a challenge in retail. But with the advent of smartphones and the expansion of online retailers like Amazon.com, showrooming has gone from being a headache for bricks and mortar retailers to a full-blown migraine. Mobile phones allow consumers to “make a purchase anywhere – and that takes out the middle step of going home and ordering online,” says Wharton marketing professor David Bell. “As technology facilitates it, [showrooming] will only become more prevalent.”

Read full article via Turning the Retail ‘Showrooming Effect’ into a Value-add – Knowledge@Australian School of Business.

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Kicking the Sales Promotion Habit

An important read for all retailers today.  Sales discounting — when to use and when not to use or when it is too much and damaging to brand.

Excerpt:  It’s a tough world for retailers. New technologies enabling consumers to compare products and prices online have permanently changed the in-store shopping experience. Meanwhile, a sluggish economy and rising competition are testing consumers’ brand loyalty. Many retailers are responding with price promotions in a bid to keep people coming through the doors. But this short-term fix often exacerbates the very problems retailers aim to remedy. Over time, promotions train consumers to buy only when there’s a sale, and each new round of discounts must be deeper than the last to get their attention. As prices fall, margins suffer. Any incremental revenue gains from promotions eventually shrink as the sale sign becomes a fixture in store windows. Most troubling is the long-term damage to a retailer’s brand when consumers come to see it as a place that always has sales.

In short, the overuse of promotions can become an addictive behavior that can deeply damage a company’s brand identity. Yet a drastic change to eliminate promotions is not the answer:

Read full article via Kicking the Sales Promotion Habit.  From Strategy + Business  — Booz & Co.

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Open India: Considerations for Retailers – HBR

Small business need-to-know and news-to-watch  —  global business.

Excerpt:  India has rapidly emerged as one of the largest economies in the world, but it is also one of the most complex. Now, led by Prime Minister Manmohan Singh’s insistence that “good economics is good politics,” India has announced a new wave of reforms, seen by many as the most significant step since the ground-breaking “opening of India” in July 1991. The reforms include changes to retail, airlines, broadcast and power sectors.

Read full article via Open India: Considerations for Retailers – Vijay Govindarajan, Javed Matin, and Christian Sarkar – Harvard Business Review.

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6 Tips for Running a Layaway Program

It is the time everyone begins or has already begun the ramp-up for year end holidays and sales.  Many retailers are once again bringing out a layaway programs — if this model will work for your business or you want to know more about what is needed, there are great tips and advice in this article.

Excerpt: With the holiday shopping season fast approaching, and the recent news of major retailers such as Toys R Us and Walmart retooling their layaway programs, many smaller merchants I’ve talked to are considering adding a layaway option.

A layaway program has the potential to build brand loyalty and drive repeat traffic to your retail business. First, decide if offering a layaway program will work for your business. To answer that question, look at your business model and determine what (such as value proposition, channels, revenue streams and cost structure) will need to change in order to run an effective layaway program.

Read full artticle via 6 Tips for Running a Layaway Program | Entrepreneur.com.

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Customer Experience Should Be Part of Your Business – HBR

More great takeaways from HBR this morning.   The obvious changes to customer facing portals is important but until you can know and address the basic underlying values that need to be improved just a face fix won’t work.  CRM

Excerpt:  What’s the best way to optimize your customer experience? Why not fix it where it happens? Improve the experience on your website. Improve the experience in your retail locations or call centers. This strategy makes perfect sense, and it aligns nicely with the way your company is probably organized — with the website, retail locations, and contact centers each in their neat little silo.

But based on our research, this natural strategy doesn’t work because it lacks any understanding of the larger, cross-channel journeys that your customers take

Read full article via Customer Experience Should Be Part of Your Business – Harley Manning – Harvard Business Review.

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Retailers Turn to “Soft Surveillance” to Fight Customer Anonymity – HBR

Good read particularly for ecommerce and retailers.   Its all about moving forward with the more sophisticated systems being developed today that are aimed at discerning your probable buy choice even before you know what that is.  Information technology, data management and data mining.

Excerpt:  Sophisticated new data-gathering systems are designed to both improve profitability and help the consumer save time and effort. But companies need to beware of making shoppers feel that they’ve entered an Orwellian world where Someone is Always Watching.

Read full article via Retailers Turn to “Soft Surveillance” to Fight Customer Anonymity – Robert Plant – Harvard Business Review.

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Are You Ready For The New Google Shopping?

You do have to register to download white paper, but you can do that using a social media log in.  I haven’t read this, so please, when you do, let us all know what you think.  eCommerce

Excerpt:  Published: Jun 26, 2012 12 pages  Published By: CPC Strategy

CPC Strategy is excited to release a it’s 3rd Google Shopping ebook for business owners that talks about everything you need to know to take advantage of the new Google Shopping. It’s an actionable guide on how to prepare your business for the change. Fill out the form to receive CPC Strategy’s Ebook, which includes:An analysis of how you can take advantage of the New Google Shopping How to set up your New Google Shopping Campaign How to set up your New Google Shopping Data Feed CPC Strategy manages the Google Shopping campaigns for more than 150 online retailers. Some inclue Payless Shoes, Sears, Spanx, HUGO Boss, Everything Furniture, Accessory Geeks, RAM Experts, Norm Thompson and Tommy Bahama.

Read introduction and download here via Are You Ready For The New Google Shopping? – Business.com Whitepaper Library.

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Tech Breakthroughs are Reshaping Retail Shopping in the USA

Look where retail is headed with new technology!   The article predicts uses of this new Intel design AND more in the prediction of where we are going next.  Interesting read.  Retail and ecommerce.  Small business takeaways sales, marketing and information technology.

Excerpt:   The Intel scientist has designed a high-tech mirror that shows how clothes look on a consumer who simply stands in front of an LCD monitor. Parametric technology simulates body type and how fabrics fit — based on weight, height and measurements.

Think of it as a digital fitting room. The concept is three to five years from fruition but could open the door for Intel in the retail market.

The convergence of smartphone technology, social-media data and futuristic technology such as 3-D printers is changing the face of retail in a way that experts across the industry say will upend the bricks-and-mortar model in a matter of a few years.

“The next five years will bring more change to retail than the last 100 years,”

Read full article via Tech breakthroughs are reshaping retail shopping in the USA – USATODAY.com.

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