Fourth-quarter financials in 2017 demonstrate once again retailers walk a tightrope when it comes to driving sales and maintaining gross margins. Despite healthy sales increases in the fourth quarter, many retail executives felt the impact of a dynamic business environment that challenges retail companies on numerous fronts: New technology, evolving consumer preferences, digitalization, new competitors, etc. Attracting new customers and keeping loyal shoppers “in the fold” is never a fait accompli. Executives must manage both short- and long-term strategies across all their operations to maintain financial flexibility and remain relevant with consumers.
In this eBook, we explore what more than 4,000 consumers across four different regions of the world - United States, United Kingdom, Canada and Australia - value in their online experience, where opportunity exists, and how brands and retailers can execute to ensure that they maintain a competitive position as the industry continues to rapidly transform.
The high fraud risks associated with digital gift cards has many merchants worried, despite the fact that overall gift card sales are projected to reach $180 billion in 2018, with a 200 percent increase for digital gift cards, specifically.
Self-service is increasingly popular with today’s retail customers as they seek more control over their time and experiences. In fact, research by Forrester indicates that 76% use web and mobile service channels to resolve their customer service inquiries.
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