Small Business Saturday Is BIG for Local Retailers

Nestled in between Black Friday and Cyber Monday is a newer shopping promotion called “Small Business Saturday.” It generates several billion dollars in revenues annually. Founded by American Express in 2010, this shopping day is intended to promote the importance of supporting local businesses:
“In 2010, American Express founded Small Business Saturday to help businesses with their most pressing need — getting more customers. The day encourages people to shop at small businesses on the Saturday after Thanksgiving. The single day has grown into a powerful movement, and more people are taking part than ever before. This year, the big day is Nov 29.”
Small Business Saturday 2014

 

To assist small firms, American Express offers many tips. Click the image to see them.
Small Business Saturday 2 2014

 

And to assist shoppers, American Express has a locator for participating stores. Click the image to access it.

Small Business Saturday 3 2014
 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 4: Store Location Planning, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Strategy Mix | Tagged , , , , , , , , , , , , , | Leave a comment

Can “Cheap Chic” Retail Get Even Cheaper?

A large customer segment wants to look good with their apparel, but — at the same time — pay less than before. The competition for for this segment is already intense and will probably become even more so with the U.S. entry of U.K.-based Primark.
As Peter Evans reports for the Wall Street Journal:
“Primark, the U.K. fast-fashion chain that sells T-shirts for a couple of pounds and doesn’t believe in online retailing, wants to make it big in the U.S. Don’t expect it to play by the rules. Jokingly nicknamed ‘Primani’ after the expensive Italian fashion house Giorgio Armani, Primark is a long way from being a luxury retailer. Dresses sell for the equivalent of $18, chinos for under $20, and boots go for $25.”
“Able to respond rapidly to changes in fashion tastes, especially among young shoppers, Primark has built its success on similar foundations to Hennes & Mauritz AB’s H&M chain and Inditex SA ’s Zara. Only Primark does it cheaper. In August 2014, Primark’s clothes were priced 48% below the market average in the U.K., according to research from Bernstein.”
Click the WSJ chart to read more.

 

 

Posted in Global Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 4: Store Location Planning, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer | Tagged , , , , , , , , , , , , | Leave a comment

Kohl’s: Better Tailoring Prices and Assortments

Kohl’s operates about 1,200 mid-priced stores in the United States. Its mission is “to be the leading family-focused, value-oriented, specialty department store offering quality exclusive and national brand merchandise to the customer in an environment that is convenient, friendly, and exciting.”
As part of its ongoing modernization efforts, Kohl’s has partnered with Oracle to enhance its merchandising efforts. According to Alicia Fiorletta, reporting for Retail Touchpoints:
“To optimize operations during ongoing business growth, Kohl’s began an overhaul of its core merchandising, inventory and pricing operations. With Oracle’s Retail Merchandise Operations Management software in place, Kohl’s is able to tap into a unified system of record for inventory, allowing the retailer to better serve customers across channels, as well as simplify the business user experience.”
“After updating its E-commerce operations with Oracle Commerce in 2013, Kohl’s rolled out the Retail Merchandising System and Retail Price Management solutions to better manage inventory, pricing, and promotions for a product line that includes more than one million SKUs. The solutions provide detailed intelligence into how well categories and individual items preform online and across the retailer’s 1,200 U.S.-based stores.” 
Click the image to read more.
 

 
Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Technology in Retailing | Tagged , , , , , , , , , | Leave a comment

The BCBGMAXAZRIA Women’s Fashion Empire Keeps Growing

BCBGMAXAZRIAGROUP is a global retail fashion powerhouse:
“Founded in 1989, BCBGMAXAZRIAGROUP is the lifetime vision of one man: Founder, Designer, Chairman, and Chief Executive Officer Max Azria. After years of success designing women’s wear in Paris and Los Angeles, Azria decided to pursue his dream of launching a design house that spoke to the modern woman, and BCBGMAXAZRIA was born.”
“Today, BCBGMAXAZRIAGROUP has more than 570 BCBGMAXAZRIA retail boutiques worldwide, each serving as a consummate showcase for women’s ready-to-wear and accessory collections. There are currently over 175 BCBGMAXAZRIA boutiques in the United States, and BCBGMAXAZRIA is present throughout Europe, Canada, Venezuela, Chile, Portugal, Greece, Bahrain, Japan, Singapore, Malaysia, Taiwan, China, Hong Kong, and Russia among other countries. The Azrias’ collections are also sold in specialty stores and in-store shops in major department stores across the globe, including Saks Fifth Avenue, Bergdorf Goodman, Bloomingdale’s, Macy’s, Lord & Taylor, Dillard’s, the UK’s Harvey Nichols, Hong Kong’s Lane Crawford, Taiwan’s Mitsukoshi, and Singapore’s Takashimaya stores.”
The company has a very active fashion blog, which may be accessed by clicking the image.

 
The retailer continues to grow and has now expanded into more than 100 countries. It has also become more active with online sales. As reported by Alicia Fiorletta for Retail Touchpoints:
“Women’s fashion house BCBGMAXAZRIA Group has implemented the cross-border E-commerce solution from Borderfree to extend its brand to international online shoppers.The BCBGMAXAZRIA flagship line is now available in 100 countries, with the brand offering free shipping to all countries with a minimum spending threshold. All purchases also will be duty-free in all countries except Japan and Canada. Later this year, BCBGMAXAZRIA will expand its international E-commerce assortment to include its BCBGeneration and Hervé Léger brands.
“With the Borderfree technology, BCBGMAXAZRIA was able to quickly bring international, cross-border shipping to its E-commerce site, according to Alex Golshan, VP of International E-commerce and Omnichannel at BCBGMAXAZRIA. Team members receive accurate calculations of taxes and duties for each product, and have access to catalog review, customs compliance and restricted product management tools.”
Click the image to read more from Fiorletta.


 

Posted in Global Retailing, Online Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 4: Store Location Planning, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Part 8: Putting It All Together, Social Media and Retailing, Strategy Mix | Tagged , , , , , , , , , , , , , , , , | Leave a comment

PLEASE Be a Smart Customer: 2014 Holiday Shopping Tips

bermanevansretail:

DON’T be deluded by Black Friday. Be smarter than that. Sales have already started! There are 21 tips here.

Originally posted on Retailing: From A to Z by Joel Evans:

Every year, I offer a list of holiday shopping tips intended to help shoppers avoid overspending their budgets. Since the holiday season starts earlier and earlier each year, I’m moving up my tips post. According to the National Retail Federation, the holiday season actually started in October.
So, here are my 2014 shopping tips as a checklist [Click the list to see a larger version.]:

2014 Shopping Tips

View original

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer | Tagged , , , , , , , , , , , , , | Leave a comment

Do Better at Customer Referrals

We know that positive customer word of mouth (in person or electronically) can have a dramatic impact on firm performance.
Here is a nice infographic by Forewards, a specialist in customer referrals for small firms:
“If your business is like most other retailers, online or bricks-and-mortar, you probably rely on the holiday rush to play a huge part of your success every year. This year, in particular, the National Retail Federation (NRF) is forecasting that in the United States retail sales as a whole will be well over $600B this holiday season. That’s a pretty huge opportunity. No doubt, a good portion of those sales will happen online as well. This begs the question. Is your online store ready for the holiday rush? We’ve provided a number of actionable tips and techniques in this blog which we hope was helpful. if you haven’t yet acted on some of these suggestions the time is now.”

 
The Science of Customer Referrals - Holiday Edition
 

Posted in Online Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Social Media and Retailing, Strategy Mix | Tagged , , , , , , , , , , , , , , , | Leave a comment

Cyber Monday Getting More Mobile

According to research conducted by AppLovin and reported by Marketing Land:
Using a mix of its own data and third party data, mobile ad personalization platform AppLovin is predicting that nearly 30 percent of Cyber Monday transactions this year will come on mobile devices. This is transactions — not traffic. AppLovin points out that in 2010 mobile transactions represented only 2 percent of Cyber Monday buying. However mobile commerce has been growing steadily despite considerable friction in the mobile shopping and checkout process.
Click the chart to read more.

 

 

Posted in Online Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer | Tagged , , , , , , , , , , , | Leave a comment