Whether you’re an online or traditional retailer or even in the supply chain or licensing business, competition is something you always want to keep an eye out for. Many retailers have tried to fend off competition with price wars, which means lowering their prices to stay more competitive in their industry. This is not always the right approach—customers seek value and do not want the most inexpensive product out there, especially if it looks low-quality.
In today’s economy, many retailers are seeing that higher quality with higher prices can be the best solution.
Read more: 4 Ways to Make More Money
Mind Candy, the global entertainment company behind the Moshi Monsters franchise, today launched World of Warriors, an epic adventure and combat strategy game, exclusively on the App Store for iPhone, iPad and iPod touch. In World of Warriors players must amass an army of history’s greatest warriors to defeat a power-hungry warlord and his evil Skull Army.
Read more: Mind Candy’s World of Warriors Now Live on the App Store
Smartphone apps have radically changed the way people shop, and retail businesses that don't adapt risk losing money. A study by UsableNet found that more than 10 percent of smartphone users have used their phone in-store to look up product information and compare prices. Consumers still want the experience of talking with a salesperson and seeing the product in person, so the brick-and-mortar store isn't a thing of the past yet. Here are some of the best smartphone apps out there to help drive foot traffic into your stores.
Read the full article on the Retail Merchandiser blog.
As we prepare to kick off the holiday shopping season with two of the biggest shopping days of the year, Black Friday and Cyber Monday, it’s a good time to look back and take stock of how much the retail industry has changed in just one year.
Last year, the Black Friday and Cyber Monday craze was all about m-commerce – especially optimizing the mobile experience for the holiday season. And indeed, TechCrunch reported that overall online sales saw a 19% increase on Black Friday 2013, but mobile sales surged 43%. Cyber Monday also saw record-breaking results: e-commerce sales increased by 20% from 2012-2013 while m-commerce sales increased by 55% year-over year, according to Mashable. The question is, how will the Black Friday Weekend, including Black Friday and Cyber Monday, be different in 2014?
For much of 2014 retailers have taken note of the general rise in popularity of online retail channels, and have wondered whether brick-and-mortar retail would survive to see another holiday season. But on the brink of Black Friday Weekend 2014, brick-and-mortar retail has never been more relevant – and online retail channels are just as critical.
Read more on the Retail Merchandiser blog
“Stores are wonderful. You can examine all the stuff for sale, and then buy it cheaper from another company online!” Sound familiar? This modern consumer tactic, commonly known as showrooming, is expected to continue during the upcoming holiday season. While some retailers perceive the practice as a threat, smart merchants are beginning to use it as an opportunity. With the help of in-store analytics technologies, stores can take action to convert showroomers into brick-and-mortar buyers.
A 2014 retail survey by Accenture reveals that in-store shopping is rebounding in popularity, but still needs improvement. The good news is that data capture and analytics technologies for brick-and-mortar environments can help retail organizations provide their customers with the best possible in-store experience. These solutions provide information to help decision-makers better understand today’s multichannel shoppers, delivering the equivalent of clickstream analytics for walk-in stores.
Read more on the Retail Merchandiser blog.
Your retail store’s design is one of the most crucial elements of your success. The impact you make on your customer when they first walk in the door is what stays with them forever, so when they hear or see your name anywhere they think of the design. A lot of store owners, however, decide to focus on the interior more than the exterior. The walls, lighting, layout, and colors are all important elements of your design, but the real eye-catcher happens before the customer even walks in the door. The moment the potential customer sees your store, they immediately record this image in their mind because this design is how they’ll find you from now on. That image is their first impression.
Read the full story on the Retail Merchandiser Blog
Gone are the days of clipping coupons and lugging around bulging coupon organizers. Our on-the-go culture doesn't allow for that kind of preparation for every shopping trip. To keep up with the evolving technology, you must think about what devices and programs your customers are using. To keep your customers coming back to your shop for the best deals, here are four apps to consider incorporating into your store.
Read the full story on the Retail Merchandiser blog
It’s never been easier for customers to get what they want: from the Internet to social media to mobile and, of course, in-store, shoppers can purchase virtually anything they want anytime from anywhere. As a result of this multichannel approach, retailers now have access to a vast pool of customer data that hasn’t existed until fairly recently.
By analyzing this data, retailers can better predict consumer behavior and respond in real-time to consumers’ individual needs.
To understand how the buyer expects to be “spoken to” in today’s omni-channel world, whether through a smartphone app, store associate or live chat online, retailers reach new depths in understanding customer shopping patterns and desires. Following are the types of analytics that retailers should be paying close attention to this holiday season, all of which could hold the key to not only improving the customer experience, but increasing operational efficiency and profits, as well.
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