Focus More on Repeat Customers

Posted on March 7, 2014 by bermanevansretail
Many retailers spend a lot of money trying to attract more new customers as a way to generate greater sales — and profits. As a result, they sometimes do not pay enough attention to repeat business as the key to their success.
New research from OrderGroove shows the value of repeat business. Check out the infographic below.

 

 

Posted in Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer | Tagged , , , , , , , , | 2 Comments

Pizza Chains Stepping It Up

Posted on March 6, 2014 by bermanevansretail
We’ve seen a lot of innovations and creative marketing among the leading pizza chains. For example,
  • Domino’s has improved its online ordering capabilities and aggressively promotes this as more convenient than in-store ordering.
  • As with all Pizza chains, Papa John’s regularly introduces new menu items. Its most recent entry is the Double Cheeseburger Pizza.
  • Now, here comes interactive tabletop ordering from Pizza Hut. As reported by SelfServiceWorld.com: “Restaurant self-ordering technology has just been kicked up a notch. Pizza Hut announced this week that it is testing a new interactive tabletop that allows customers to order pizza in-store, at their seats, via touchscreen technology. The new technology allows customers to choose the size of their pizza, their crust, toppings, cheese amounts and more, all via their tabletop. The process includes step-by-step visuals to guide the selections. It also enables tableside payment and gaming apps to entertain guests while they wait for their order.”
Here’s a video clip from Pizza Hut.
 

 

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, Technology in Retailing | Tagged , , , , , , , , , , , , | 1 Comment

Is Price the Major Shopping Driver? Not According to a New Study

Posted on March 4, 2014 by bermanevansretail
During — and since — the recent Great Recession, many shoppers have become more price sensitive. In addition, showrooming and mobile media apps that enable shoppers to track prices in real time have also contributed to intense price pressures for retailers. As a result, according to various reports, a number of major retailers saw their profit margins decline in 2013.
But recent research by Duke University’s Fuqua School of Business (commissioned by the American Marketing Association) indicates that consumers may finally be moving from their interest in price as the driving force in their shopping behavior to a greater emphasis on quality. This is very good news for retailers.
As eMarketer reports:
“Getting a good deal isn’t top of mind for shoppers. In a February 2014 study by Duke’s Fuqua School of Business, ‘superior product quality’ was the top priority among U.S. marketers. Consumers were less interested in finding a low price. In fact, this fell from second place in August 2013 to fourth place in February 2014, trailing priorities related to relationships with brands and customer service.”

Click the chart to read more.

 

Posted in Part 1: Overview/Planning, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing | Tagged , , , , , , , , , , , , , | 3 Comments