Public Relations & Social Marketing Insight
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Public Relations & Social Marketing Insight
Social marketing, PR insight & thought leadership - from The PR Coach
Curated by Jeff Domansky
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The World's Most Expensive Retail Locations

The World's Most Expensive Retail Locations | Public Relations & Social Marketing Insight | Scoop.it

If a company wants to open store on one of the world's most prestigious shopping streets, that company has to have deep pockets. Renting a store on a shopping street in one of the world's largest cities comes with an enormous rent burden with New York's Upper 5th Avenue the most expensive according to commercial real estate agency Cushman & Wakefield.

 

A square foot of retail space in that part of New York would cost $3,500 a month on average. Hong Kong's Causeway Bay area and the Champs-Élysée in Paris also have extremely high rents of $2,399 and $1,372 per square foot every month respectively....

Jeff Domansky's insight:

Shop till you drop at the world's most expensive retail shopping streets starting in New York and Hong Kong.

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The Store of the Future: 72 Startups Transforming Bricks-And-Mortar Retail In One Infographic

The Store of the Future: 72 Startups Transforming Bricks-And-Mortar Retail In One Infographic | Public Relations & Social Marketing Insight | Scoop.it

Transforming bricks-and-mortar shopping is a high-stakes endeavor for retailers given Americans still do over 90% of our shopping in physical stores. In fact, one of the latest trends in retail is the launch of physical stores by online e-commerce companies, including Amazon, Warby Parker, and Birchbox.


Dozens of startups have taken on the challenge of helping retailers bridge the gap between digital and physical commerce through features ranging from shelf-stocking robots, to augmented reality displays, to Wi-Fi based beacons that collect data on shopper behavior.


Using CB Insights data, we identified startups enhancing the in-store experience with digital tools. The startups in our list have racked up partnerships with many big name brands — including Maybelline, Lancome, Kiehl’s, Cabela’s, Foot Locker, Home Depot, Express — and department stores, from Lord & Taylor to Target....

Jeff Domansky's insight:

Companies are using technologies like wearables, augmented reality, and beacons to bridge the gap between digital and physical shopping.

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5 retail updates you need to know today

5 retail updates you need to know today | Public Relations & Social Marketing Insight | Scoop.it

In today's Retail Wrap Up we cover a vast array of stories; from the weird and whacky (did you say, smart jeans) to Instagram's life changing update. No spoilers here, we wouldn't want to ruin the surprise.

Jeff Domansky's insight:

Useful look at the future of social marketing.

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Economy Watch: Retail Sales Edge Down in August

Economy Watch: Retail Sales Edge Down in August | Public Relations & Social Marketing Insight | Scoop.it

U.S. retail and food services sales were down 0.3 percent in August, the Census Bureau reported on Thursday, which was an unexpected drop. It’s also a metric that might make retailers nervous ahead of the critical holiday sales season (and no matter how retailers try to stretch it forward, we’re still not there yet), though one month’s data can, in the long run, be noise. Compared with the same month last year, retail sales are still up, turning in a gain of 1.9 percent.

 

Only a few kinds of retailers gained any ground at all in August. Clothing store sales were up by 0.7 percent for the month, and electronics retailers eked out a gain of 0.1 percent. Grocery store sales were up 0.4 percent in August, and food services and drinking places enjoyed a 0.9 percent gain for the month.

 

Remarkably, non-store (Internet) retail sales, which rarely see any kind of downtick in sales, were off 0.3 percent for the month. The two categories that did the worst in August—each down 1.4 percent for the month—were building material and garden equipment and supplies, along with sporting goods, hobby, book and music stores....

Jeff Domansky's insight:

Retailers saw an unexpected drop in sales in August, but most are still seeing year-over-year gains, the Census Bureau reported. E-commerce dropped 0.3% too.

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In the Future of Retail, We’re Never Not Shopping

In the Future of Retail, We’re Never Not Shopping | Public Relations & Social Marketing Insight | Scoop.it

Most retail outlets — whether conventional brick-and-mortar shops, digitally enhanced stores like Macy’s in the U.S. or Burberry in the UK, or online stores — assume a traditional three-stage consumption model. The customer experiences a need, shops to satisfy the need, and then consumes or uses the product purchased (I need shoes, I buy shoes, I wear them).


TThe vocabulary of retailing reflects this model, assuming in particular that shopping is the central component of this model. Marketers will talk about shopping trips, shopping missions, shopping baskets, shopping lists, and destination trips. What’s more, current practice for the most part still rests on the idea that many decisions on which particular product to buy are made in the store — whether physical or online.


Hence, brands engage in an arms race of persuasion and hard-sell tactics (prices, promos, presence) at the point-of-sale order to sway the customer when she is ready to transact.


But winning in retailing today is less and less about control of the shopping experience because there is no longer a clearly defined shopping stage. The model is changing as new technologies allow people to bring the purchase of the product that satisfies their need closer to their first perception of it. And this makes the perception of the need — rather than the shop — the stage that marketers need to control.


This paradigm shift — and it really is that — is apparent in three ways....

Jeff Domansky's insight:

And the outcome? We’ll rely on stores less and less. Think about the impact that is already having and how retail must respond in the future?

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Here's Everything You Need To Know About Apple's New Payments System, Apple Pay

Here's Everything You Need To Know About Apple's New Payments System, Apple Pay | Public Relations & Social Marketing Insight | Scoop.it

Apple just announced a new mobile payments system called Apple Pay.


Apple Pay will work with an NFC (near field communication) antenna that will be built into every new iPhone as well as the new Apple Watch


To get started with Apple Pay, you can simply add a credit card from your iTunes account. You'll also be able to add new credit cards to Apple Pay just by using the iSight camera on your phone — no need to type in card numbers. Each card will get a device-only account number, so the actual credit card number is never stored on either your phone or Apple's servers.


The service is starting in the U.S. and will work with American Express, Mastercard, and Visa, as well as several major banks, like Capital One, PNC, and Chase....

Jeff Domansky's insight:

Of all the Apple hoopla, this Apple Pay system is going to have the biggest impact now and in the future.

Amber McGuirk's curator insight, September 11, 2014 10:45 PM

Obviously, Apple has come up with some plan to make our lives easier or possibly harder with the Apple Pay. I personally think its a great idea.. I NEVER leave home without my phone however, I've left without my wallet many times. I already own Apple, so when this get's released in October I think that they have revolutionized the future of payment.