Partnering with brand reps to provide fun, profitable in-store promotions, displays, and buying experiences is one part art and one part science. But it always starts with a passion for meeting the needs of today’s wired-up and infinitely distracted consumer, especially as the retail sector continues to undergo massive transformation powered by changing consumer tastes, cost pressures, and the growth of online channels. Not to mention the resurgence of niche retailers and other direct channels that strive to offer greater convenience and unique value added services or packaging. Meanwhile, more funding continues to flow into upstart brands and new retail concepts driven by Amazon and other innovators, creating both a lot of noise and opportunity. To stand-out and succeed, retail merchandisers need to move fast, use their data, and think like a disruptor.
Half of US households have an Amazon Prime membership and have come to expect free, two day shipping. So now eCommerce executives are challenged to develop delivery strategies to compete with Amazon’s delivery capabilities in order to retain their best customers; and do it without losing money.
Total Retail surveyed its retail executive audience to understand current and future retail technology trends and buying behaviors. The results show that while innovative retail technologies such as augmented and virtual reality, chatbots (i.e., artificial intelligence), and drones get a lot of media attention for how they’re going to disrupt the industry — it’s more basic solutions like marketing automation software, video and mobile websites that currently have retailers’ attention.
72% of US online shoppers have a membership to an eCommerce marketplace such as Amazon or eBay. This guide will show you what retail tactics you should prioritize to win online shoppers in the year ahead
Business goes through cycles of creative destruction and business evolves. Retailers that are unable to see threats or to strategically understand shifts in the market will not survive. However, those that are nimble—those that understand what is important and act quickly—not only survive but thrive.
The current media reporting on the state of retail stores paints a doom and gloom picture. Almost every day there are headlines of bankruptcy filings and store closures suggesting that the retail apocalypse is here. It’s clear that the retail industry is going through a transformational period that has many scaling back physical operations, but despite the news, people still want to—and still do—shop in stores.
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?