As the Internet and social media evolve, brands and consumers are finding it easier than ever to reach each other, weakening Amazon's position as a middleman. Meanwhile hybrid retailers with physical locations like Macy's and Wal-Mart are growing their e-commerce businesses faster than Amazon -- and profitably.
What sets retailers up for success or failure in digital age? L2’s Digital IQ Index examines more than 200 retailers in the specialty retail, department store and big box categories. From these studies emerged a list of Do’s and Don’ts for retailers looking to thrive.
Although this is my first stab at scaling a company, I'm no stranger to leadership and teamwork. Throughout my lifetime as an athlete, I've been on all types of teams that ranged from less-skilled but fundamentally sound and hard-working, to highly-talented yet dysfunctional and toxic.
A critical shift has occurred in the path to purchase: half of U.S. retail sales are now influenced by digital channels. As shoppers increasingly make decisions online before purchasing in-store, the digital experience must play a central role in driving consumers from clicks to bricks and back again.
This represents a sizable challenge for retailers, many of which are burdened by legacy technology systems and hobbled by a lack of integration between e-commerce and brick-and-mortar teams. Nonetheless, retailers that delay creating more holistic digital-physical customer experiences will find it increasingly difficult to compete with both Amazon and their more digitally advanced peers.
The lines blurred between online and offline sales and the numbers have never been better. In fact, new mobile technologies are sending more people into stores looking for deals with the same discounts they would get online without the wait.
This was originally posted on Forbes.com on July 14th, 2015 No matter where you look, you’ll discover a drastically different buying experience in modern-day stores. Smartphone touches are gradually replacing credit card swipes; tablet screens are taking over as in-store signage and becoming point-of-sale systems; and beacons are alerting browsing mobile shoppers to deals. The most exciting part? The retail revolution is only getting started—and it won’t be televised or show up in your Sunday circular.This era of digital change brings about promising opportuni
Part 12By Jorge LizanManaging Director of Lizan Retail Advisors (LRA)As part of a series of articles on The Future of Retail and Shopping Centers, I was fortunate to interview some of the clearest minds on today's retail world whose have shared with me extraordinary insights on how retail will evolve in the coming years and decades and how this will shape the shopping center of the future.In this installment we interviewed Brian Simpson, Director of Latin America of ShopperTrak, the leading global provider of retail analytics, offering solutions to more than 1000 retailers and shopp
The days of relying solely on historical data and personal intuition to make new product decisions are gone--assuming you want to be successful in the future. Democratization of new product design and selection is here to stay. This is the tipping point to which I refer. It isn’t a matter of IF you are using data and analytics, but when and where you apply the RIGHT analytics that is the real tipping point.
More than half of retailers (52%) use more than 10 pricing strategies, according to Software Advice, a web-based reviewer of retail POS systems. Another 18% use either nine or 10 strategies, while 14% use seven or eight.
Department store chain Neiman Marcus is ensuring Father’s Day presents get to their recipients on time with a new same-day shipping service.
The retailer is teaming with FedEx in 18 markets to offer speedy deliver for in-stock merchandise. Neiman Marcus will likely come to the aid of some procrastinators, making a deeper connection between store and thankful customer.
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