What Factors Most Influence Purchase Decisions?

Posted on April 25, 2014 by bermanevansretail
As Anum Hussain, an inbound marketing manager for the inbound sales division of HubSpot, writes:
“The way people buy products and services online has dramatically changed over the years — and these days, the customer has more power than ever. To understand more about what influences today’s customer, the folks at BigCommerce analyzed a range of E-commerce sites to give us a broader understanding of what people value when shopping online. While these findings may be specific to online ecommerce shops, we believe there’s some valuables lessons here for all business types. Take a look, and keep reading below for some tweetable takeaways.”

 


 

Posted in Online Retailing, Part 1: Overview/Planning, 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 , , , , , , , , | 3 Comments

How Retailing Is Evolving in the 21st Century

Posted on April 24, 2014 by bermanevansretail
As we are well aware, retailing has continuously evolved since it began informally thousands of years ago. According to research by Joel Evans:
“Modern retailing is the accumulation of incremental steps over time. The state of retailing at any given point is not only dependent on the cyclical nature of the overall economy in a country or region, but also on specific factors endemic to retailing. To succeed in the future, retailers must study, learn, and adapt in a way that both appeals to consumers and is cost efficient – a difficult balance.”
A big change between the evolution of retailing in the past and the evolution of retailing today is the RATE of change. Consider this observation from Baynote, which devised the infographic below:
“The retail industry will change more in the next 5 years than it has in the last 100. This change, driven by 30%+ growth in E-commerce in 2013, has far-reaching effects on the entire retail industry. From the required jobs, people, and skills to mobile
shopping and IT investment, it’s ‘evolve or die’ time, in which small gains make the difference between retail winners and losers. Welcome to the brave new world of modern retail.”
Click the infographic for a larger view.

 

 

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

A New Global E-Commerce Infographic from Baynote

Posted on April 22, 2014 by bermanevansretail
Baynote has put together an excellent infographic map about E-commerce around the world.
Baynote is a company that is involved with big data, intuitive algorithms, next generation applications, and real time analytics.
Check out its new infographic. Click the chart for a much larger version.

 

 

Posted in Global Retailing, Online Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information | Tagged , , , , , , | 3 Comments