In Retail, the Best Price Is Not Always the Lowest

Whether in a brick-and-mortar retail store or on a retailer’s website, the price charged for the products or services sold will have an effect on sales. However, sometimes the retailer with the lowest price around won’t have the highest conversion rates. This post is intended to highlight some of the … “In Retail, the Best Price Is Not Always the Lowest”

Read More

Macy’s Is Moving Toward the Future of Retail With RFID and Artificial Intelligence

Macy’s is once again leading the charge into the future of retail. Earlier this year, Macy’s announced that it was expanding its use of item-level RFID technology to increase the accuracy of its inventory management system, thus making it easier for the retailer to sell more items both in its … “Macy’s Is Moving Toward the Future of Retail With RFID and Artificial Intelligence”

Read More

Low- or No-Tech Solutions for Retail Loss Prevention

While the estimates vary by source, the fact is retailers lose a lot of money each year as a result of theft. According to one source, United States retailers are losing $60 billion a year due to shrinkage. That is billion with a “B”. This estimate was cited in a … “Low- or No-Tech Solutions for Retail Loss Prevention”

Read More

Added to the Watch List: Dynamic Pricing in Brick-and-Mortar Stores

Price, along with product, promotion, and place is one of the parts of marketing that E. Jerome McCarthy included on the list of four P’s that he used when he expanded on what Neil Borden coined as the “Marketing Mix.” While it is a very important part of marketing, price … “Added to the Watch List: Dynamic Pricing in Brick-and-Mortar Stores”

Read More

Showrooming, Webrooming, and the New Reality of Omni-Channel Retail

A few years ago, some retail experts speculated that mobile phones and online retailers would put many brick-and-mortar stores out of business. They thought that these brick-and-mortar stores would become nothing more than showrooms where customers would go to check out and try on merchandise, only to purchase the items … “Showrooming, Webrooming, and the New Reality of Omni-Channel Retail”

Read More

Customers Love Coupons, but Hate the Fine Print

There is a lot of evidence out there that coupons help drive sales. This is partially due to the fact that customers like coupons. In fact, I’d even go as far as to say that customers love coupons. They love to receive them and the love to use them. This … “Customers Love Coupons, but Hate the Fine Print”

Read More

User-Generated Content Is Fuel for Recommendation Engines

By now, most business leaders have heard that word-of-mouth recommendations from friends and family play a large role in the decision making process for many consumers. With this in mind, many of these same business leaders have also accepted that social media should be leveraged, and have thus established a … “User-Generated Content Is Fuel for Recommendation Engines”

Read More

Local Inventory Ads: A Key Ingredient for Mobile Marketing Success (Case Study)

In the short term, having the ability to confidently tell a customer that you have the exact product in stock at a nearby brick-and-mortar store directly within a mobile ad or even on your website is going to give retailers a huge competitive advantage. However, before you know it, this … “Local Inventory Ads: A Key Ingredient for Mobile Marketing Success (Case Study)”

Read More

Sometimes It’s What a Brand Doesn’t Do That Loses the Sale

In almost every instance where a business is trying to sell a product or service, it takes multiple positive interactions before a prospect becomes a paying customer. The average number of positive interactions, or touches at various touchpoints, required typically varies by the type of product or service being sold. Furthermore, … “Sometimes It’s What a Brand Doesn’t Do That Loses the Sale”

Read More

Luxury Shopping Bags: Status Symbols and Social Media Props

People love to shop and they love to let people know about it. Therefore, it’s not surprising that for many years luxury retailers have given their customers the ability to let their friends, neighbors, and just about anyone else know that they have just spent some of their hard-earned money … “Luxury Shopping Bags: Status Symbols and Social Media Props”

Read More