The Future Roles of the Physical Store

As we are well aware, many traditional brick-and-mortar stores are evolving in response to the impact of online shopping — which more and more people are using both to acquire information and to make purchases without visiting a store. Big changes are ahead.
A logical question is: What roles will be most important for store retailers as we forecast the near future (two to three years)? Let us look to the following for part of the answer. As eMarketer reports:
“A new report from Avanade, a provider of digital cloud services, and EKN Research found that while nearly 80% of retailer professionals worldwide currently believe traditional sales are the primary business function of stores, that will change in the next two to three years. By 2020, traditional sales activities will fall to the bottom of what retailers expect from stores. At the top will be theme-based stores, fulfillment centers and pop-ups.”


 

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, Strategy Mix | Tagged , , , , , | Leave a comment

The Most Popular Supermarkets by State

Did you know that there are really no national supermarket chains in the United States, except for those operated by retail giants Walmart and Target (both of which have supermarkets in many of their big-box stores)? As a result, supermarket popularity varies greatly by state.
As reported by Business Insider:
“Americans are passionate about their grocery stores. But some of the most popular chains in the nation only exist is particular regions, so it’s likely you’ve never even heard of some of them. The mobile search-and-discovery app Foursquare put together a list of the most visited grocery stores in each state across the U.S., based on its own visit data.”
Click here to see the most popular supermarket in each state and then take a look at this short video.

 

 

Posted in Part 3: Targeting Customers and Gathering Information, Part 4: Store Location Planning, Video Clips (non-career) | Tagged , , , , , | Leave a comment

U.S. Shoppers’ Online Activity Across Borders

How much do U.S. online shoppers buy from outside the United States? This is an important question for both U.S. and foreign online retailers.
eMarketer helps us answer the preceding question:
“More than three-fourths (77.0%) of U.S. Internet users were digital buyers in 2016, eMarketer estimates. But unlike in many other markets around the world, U.S. shoppers aren’t particularly likely to buy from foreign E-commerce sites — mostly because domestic sites are plentiful and competitively priced. These data points and hundreds of others come from a new eMarketer report examining cross-border shopping in 16 markets around the world.
According to an October 2016 PayPal and Ipsos survey, roughly one-third (32%) of U.S. digital buyers had made a cross-border digital purchase in the past year. Clothing, footwear, and accessories was the leading product category bought digitally outside of the U.S., cited by 48% of cross-border digital buyers in the PayPal and Ipsos survey. U.S. buyers on foreign sites also differed from shoppers elsewhere in the Americas in terms of how often toys and hobbies (36%) and books and DVDs for entertainment or education (34%) were cited.”

 

 

Posted in Online Retailing, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 4: Store Location Planning, Part 7: Communicating with the Customer | Tagged , , , , , , | Leave a comment

eMarketer Launches New Retail Site

Research firm eMarketer recently introduced a new Web site devoted to retail: https://retail.emarketer.com/.
Three sections of the site are devoted to:

 

The new site is packed with tons of  timely — and regularly updated — information related to the world of retail.


 

Posted in Career Useful Information, Careers in Retailing, Part 1: Overview/Planning, Part 8: Putting It All Together, Strategy Mix | Tagged , , , , , | Leave a comment

Who Is Most Apt to Use a Smartphone in the Store?

In just a short time, smartphone in-store usage has exploded. Unsurprisingly, younger shoppers are leading the way.
According to eMarketer:
“A February 2017 survey of U.S. smartphone users conducted by Euclid Analytics found that respondents ages 16 to 21 (Generation Z) use their devices for many reasons while shopping in-store. When Euclid asked respondents about how they use their smartphones in stores, 16- to 21-year-olds were more likely than consumers on average to use the devices for general purposes, to take pictures of products for future reference, and to talk or chat with friends or family about purchases. There were only two areas in which they lagged average users. One was using their smartphone to compare prices, and the other was email promotions.”

 

 

Posted in Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 7: Communicating with the Customer, Technology in Retailing | Tagged , , , , , | 1 Comment

Do You Have What It Takes to Be an Entrepreneur?

Being an entrepreneur is certainly not an easy job. Among other things, a great entrepreneur requires creativity, patience, a willingness to take risks, expertise, endurance, and a whole lot more.
According to Growth Hackers’ co-founder and CEO Jonathan Aufray:
“An entrepreneur must be audacious, calculating, enthusiastic, and passionate. Creativity and managerial capabilities are also important to the success of an entrepreneur. An entrepreneur needs to be a talented multi-disciplinary individual, a bit like the growth hacker job description, which is very complex, the entrepreneur job description is even more complicated.”
“Contrary to popular opinion, entrepreneurial skills and qualities can be learned, practiced, and developed. You must, however, make a conscious decision to nurture these qualities and skills. Once you begin to make a conscious effort to acquire these skills, particularly skills in the area where you are deficient, you would have repositioned yourself for tremendous accomplishments as an entrepreneur in the business world.”
Aufray has identified 29 skills as important for successful entrepreneurship. Here are ten of them:
  1. Personal capabilities
  2. Image building
  3. Effective communication
  4. Ability to negotiate
  5. Ability to lead
  6. Ability to sell
  7. Ability to concentrate (focus)
  8. Customer relations
  9. Preparedness to learn
  10. Inquisitiveness

 
Click the image for a full discussion of the above 10 skills and to see Aufray’s whole list of 29 entrepreneurial skills.


 

Posted in Career Useful Information, Careers in Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional | Tagged , , , , | Leave a comment

Bottled Water Tops Soda among Americans

For several years now, Americans have been consuming more bottled water and less soda. Retailers are quite aware of this because of wide variety and brands of bottled that they carry — and the amount of shelf devoted to bottled water.
Now, for the first time, the sales of bottled water exceed those of soda in the United States. As reported by SCMP:
“Bottled water has been enjoying growth for years, while sales of traditional sodas have declined. Research and consulting firm Beverage Marketing Corp. (BMC) says Americans drank an average of 39.3 gallons of bottled water in 2016, and 38.5 gallons of carbonated soft drinks. In 2015, bottled water was at 36.5 gallons while soda was at 39 gallons.”
“Other industry trackers define drink categories differently, so may see the cross at different times. Beverage Marketing includes sparkling waters in bottled waters and excludes energy drinks in sodas. The reverse is true for another tracker, Beverage Digest, which projects bottled water will surpass soda this year [2017].”
The Shelby Report notes:
“’Bottled water effectively reshaped the beverage marketplace,’ said BMC Chairman and CEO Michael C. Bellas. ‘When Perrier first entered the country in the 1970s, few would have predicted the heights to which bottled water would eventually climb. Where once it would have been unimaginable to see Americans walking down the street carrying plastic bottles of water, or driving around with them in their cars’ cup holders, now that’s the norm. With the exception of two relatively small declines in 2008 and 2009 — when most beverage categories contracted — bottled water volume grew every year from 1977 to 2016. This period included 17 double-digit annual volume growth spurts. Since resuming growth in 2010, bottled water volume has consistently enlarged at solid single-digit percentage rates.’”

 

Fortunately for both Coca-Cola Co. and PepsiCo, they both have popular brands of non-carbonated bottled water, including Dasani, Vitaminwater, and Smartwater from Coca-Cola and Aquafina, Lifewater, and LIFEWTR.

A case of Dasani bottled water. Photo by AFP


 

Posted in Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Strategy Mix | Tagged , , , , , , , , , | Leave a comment
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