How SMB Retailers Can Better Utilize Twitter

Posted on November 10, 2014 by bermanevansretail
Twitter keeps growing in popularity as a social media platform. According to its Web site, Twitter has “284 million monthly active users. 500 million Tweets are sent per day. 80% of Twitter active users are on mobile. 77% of accounts are outside the U.S. Twitter supports 35+ languages.”
So, what can retailers do to enhance their use of Twitter? It’s even a strong tool for small and medium-sized businesses!
As Retail Touchpoints notes:
“Small and medium-sized businesses (SMBs) can use Twitter to build brand awareness, boost engagement and in turn, see a significant increase in the bottom line. Up to 60% of consumers have purchased from an SMB because of Twitter, according to proprietary research from the social network. Even more (73%) consumers said they feel better about an SMB after following and reading their tweets. This infographic, courtesy of Bigcommerce, outlines the benefits SMBs can reap from using Twitter.”

 

 

Posted in Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 7: Communicating with the Customer, Social Media and Retailing | Tagged , , , , , , , , , , , | 1 Comment

What in the World Is Discountvenience?

Posted on November 9, 2014 by bermanevansretail
Here’s another new term for our retailing dictionary: “discountvenience.” What is it and what does it mean for us?
According to Stewart Samuel, Program Director for IGD Canada, writing for Supermarket News:
“Channel blurring has been a feature of grocery retailing for many years, but has become even more prominent in recent times. Shoppers have increased the number of channels they’ve been using, and retailers have been developing new formats that cross traditional channel boundaries in response to this. One of the most widespread examples has been the development of hybrid formats which bridge the divide between discount and convenience, a global phenomenon in grocery retailing that we’ve dubbed ‘discountvenience.’”
“This has been driven by both convenience and discount stores adapting their offers. Convenience stores have become more focused on delivering a stronger ‘value’ offer, seeking to break down perceptions that they are more expensive than larger store formats. Meanwhile, discount store operators have been maximizing their small format stores and convenient locations to tap into shopper demand for quicker-to-shop solutions, seeking to meet a broader range of shopper needs, including food-for-now and food-for-later.”
Click the image to read more.
Aeon’s convenience format My Basket has assimilated discount features.
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 | 1 Comment

Kearney’s 2014 Global Retail Development Index

Posted on November 8, 2014 by bermanevansretail
As industrialized countries around the world plateau economically, retailers often look for opportunities in developing countries. But, where should they look? One great source of information is A.T. Kearney.
Annually, A.T. Kearney produces a Global Retail Development Index (GDRI). This Index:
“ranks the top 30 developing countries for retail expansion worldwide. The Index analyzes 25 macroeconomic and retail-specific variables to help retailers devise successful global strategies and to identify developing market investment opportunities. The GRDI is unique because it identifies today’s most successful markets and those that offer the most potential for the future.” 
To access Kearney’s full 2014  GDRI report, click the chart.

 

 

Posted in Global 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, Part 8: Putting It All Together | Tagged , , , , , , , , | 1 Comment