Happy Thanksgiving from BEretail

Posted on November 26, 2015 by bermanevansretail

 

 

Posted in Online Retailing, Part 3: Targeting Customers and Gathering Information, Part 7: Communicating with the Customer, Social Media and Retailing | Tagged , , , , , | Leave a comment

Why Will Some Retailers Be Off-Target This Holiday Season?

Posted on November 25, 2015 by bermanevansretail
Predictions for this holiday selling season are quite conservative, as many consumers remain tight-fisted. Despite the improving economy, many people are not overly optimistic about the future.
As Retail TouchPoints notes, retailers will also share some responsibility if their holiday 2015 revenues fail to reach their expectations:
“Recent research indicates that the holidays bring significant mismatches between what consumers want and what retailers are able (or willing) to provide. For example, while 60% of consumers report that the availability of buy online/pick up in-store will affect where they shop — and an even higher percentage (72%) seek buy online/return in-store — only 25% of retailers offer these services. And while two-thirds of consumers find online product recommendations helpful, a scant 16% of retailers expect a high ROI from this functionality.”
“See where retailers successfully play Santa, and where they fall into the role of Grinch, with this infographic from Listrak.”


 

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 , , , , , , , , , | 1 Comment

Bloomingdale’s Ups the Ante for Its Outlet Stores

Posted on November 24, 2015 by bermanevansretail
Until recently, Bloomingdale’s (owned and operated by Macy’s Inc.) only operated upscale stores. But today, it is becoming more and more engaged  in the discount segment of retailing with its Bloomingdale’s: The Outlet Store, as it seeks to (1) lure additional consumers attracted to the Bloomingdale’s name while (2) still maintaining the aura of its traditional stores.
Here is a good analysis by Laura Heller for FierceRetail of Bloomingdale’s strategy:
“Off-price and discount outlets from department stores are growing at a rapid clip in an effort to capture a younger shopper. Bloomingdale’s now operates 16 such stores and Macy’s is betting on its new Backstage off-price format.”
“Bloomingdale’s just opened its most fashion-forward outlet store in New York City with a number of unique features tailored to a younger, more contemporary shopper, including on-site tailoring services. The three-level, 25,000 sq. ft. store is on the West Side.”
“There’s an emphasis on contemporary brands with 60 to 70 percent of merchandise from opportunistic buys from vendors; 20 percent is clearance from Bloomingdale’s regular stores, and 10 to 20 percent is made for the outlets, WWD reported.  It’s the first  outlet to sell cosmetics, and there will be a yogurt bar on the second level, operated by 40 Carrots, a concept expanding within Bloomingdale’s stores and outlets.”  
Click the image to access Bloomingdale’s: The Outlet Store online.

 

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, Part 8: Putting It All Together | Tagged , , , , , , , , | 2 Comments