What’s Next for Traditional Stores?

Posted on November 7, 2014 by bermanevansretail
As we know, traditional brick-and-mortar retailing is far from dead. However, it is changing and it is affected by alternative shopping formats. So, what’s next?
eMarketer reports that:
“Thanks to digital devices, mobile in particular, the path to purchase starts long before consumers step foot in-store. Still,  brick-and-mortar isn’t dead, as evidenced by a June 2014 study by ORC International for Capgemini. Among digital shoppers worldwide, 72% said the traditional store experience was important when making a purchase — the highest percentage out of locations and channels studied. The Internet landed second, at 67%.”
“Results indicated that there was indeed demand for a more digital store experience among today’s tech-savvy shoppers. The majority of respondents said that in-store technology, such as kiosks, was important when buying an item. Despite mobile’s rise and rumors of showrooming, smartphone Web sites and apps trailed behind in-store tech and even E-mail as important channels for purchases.”
Click the chart to read more from eMarketer.


 

And click the image below to read more on this topic from JWT Intelligence.


 

Posted in 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 | Tagged , , , , , , , , , , , , , , | 2 Comments

Store Associates and Customer Relationships

Posted on November 6, 2014 by bermanevansretail
It is imperative that store-based retailers recognize the importance and value of store associates in customer relationships. Some get this; others do not.
Recently, Cognizant conducted a study on this and concluded that:
“Store associates are the last resource shoppers turn to when making purchase decisions because they have a reputation for being unhelpful. Interestingly, one reason shoppers choose to walk into a store rather than shop online is because they seek human contact. Clearly, shoppers share a complicated relationship with store associates. We believe that making this relationship positive and collaborative will benefit retailers significantly and help them combat ‘showrooming.'”
“Our study found that when faced with a problem (such as not being able to locate a product), shoppers instinctively turn to store associates first. We believe this expectation that store associates should resolve hiccups in the shopping experience can be used to strengthen shoppers’ reliance on the associates. Equipping store associates with mobile technologies will allow them to help customers locate the right product, place orders for out–of–stock items and resolve other similar issues. Mobile technologies can also ensure that store associates are well–informed about products and thus able to meaningfully assist shoppers in making purchase decisions. Our study also found that shoppers rate in–store personalization as more important than online personalization. Technology can help store associates identify loyal shoppers and deliver personalized service that reflects their status as loyal customers.”
Here are a video and infographic from Cognizant.

Posted in Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 7: Communicating with the Customer | Tagged , , , , , , , , , , , | 2 Comments

Mobile Payments: Even Bigger in 2015

Posted on November 4, 2014 by bermanevansretail
We know that mobile payments are the next big thing. With the introduction of Apple Pay, things promise to pick up even more.
As Judo Pay notes at Visual.ly:
“Consumers around the globe are already embracing this technology and want to make it a part of their daily lives. Buy coffee, pay your parking tickets, book your flying tickets, pay for taxi, retail chains, fast food centers, buy gift for dear ones. Payment by phone has slowly emerged as an end-to-end solution for easy payments. Pay by phone is the emerging technology we look forward to embrace. So are you as a business ready today to delight your consumers?”
Check out Judo Pay’s infographic on the status of mobile payments in 2015.
 

 

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