Change with the times, or the times will change you. These words have never been more true than they are today. That’s because mobile devices, especially smartphones, are changing the game for retailers. Mobile is more than just the way emails render. Mobile is the primary way people consume information. Consider this:
In the year 2037 we may not quite be on planet Mars, but one thing is certain, the face of retail and ecommerce will have drastically changed, and this is particularly true for smaller retailers and mom and pop shops.
In the third installment of a three-part series, find out how I predict small retailers may change 20 years from now.
Consumer expectations versus reality. It is a complex topic for all retailers, but especially for those who sell online. Look at how Amazon has raised the bar on consumer expectations, such as with fast and free shipping. Consider how accessible mobile phones are, allowing consumers to find any product they are searching for, regardless of where they or the product is located. Social media, and its integration into the shopping experience, is providing a direct connection between brand and consumer.
In the year 2027, it’s hard to imagine going to the same big box grocery store when already so many technological advancements are making its way into each business. Beyond grocery stores, similar changes can been found in the fashion and general merchandise industries. This poses the question, what will happen to the largest of retailers over the next 10 years? Will there be a shift in physical size? Will experiences become more meaningful than general displays and product availability?
In the second part of a three-part series, find out how I predict giant retailers may change over the next 10 years.
Consumers are so keyed in about personalization that a recent study found 40% of online shoppers expect that multichannel merchants know about their offline purchases and factor those into their marketing emails. Let me repeat, we’re talking about offline purchases!
Retailers recognize this as a challenge, and are eager to solve it. But realistically, too many retailers struggle to connect their consumer profile data, purchase data, and email data — much less bridge the gap between the online and offline world. Consumers are coming to expect something most retailers are not yet poised to provide.
Over the next five years, mid-size retailers such as L.L. Bean, Hasbro, and Wayfair will see large impacts and face the most challenges. While we may not have a crystal ball, industry experts, like Greg Zakowicz, have a direct tap into the changing landscape of retail, so we asked them how they see mid-size retail and ecommerce shifting over the next five years. From emerging technology to shifts in how consumers receive their goods, there are a lot of iterative changes that our industry is likely to see.
In the first of a three-part series, find out how I predict mid-sized retailers may change over the next 5 years.
Consumers are on the move, and their expectations are higher than ever, thanks to supply chain innovations pioneered by fashion industry front runners. Speedy product development and great logistics management have helped brands like Zara and Uniqlo expand their brands’ presence and popularity in North America, bringing new benefits to consumers and new challenges to retailers.
A colleague recently told me over lunch how much he loves pizza apps. “They’re just so easy.” When I asked him what was so easy, he said that while picking from the menu is part of the ease, the bigger part has to do with paying. It’s one touch.
Now before you run out and hire a team to create an app for your brand, let’s think about how to make paying easier – whether someone visits your website from a desktop or wants to take advantage of email offers directly from their mobile device.
The retail sector is going through drastic changes. Established names like The Limited are closing or filing for bankruptcy. Amazon and WalMart squeeze everyone’s margins. Special discount shopping days like Black Friday have morphed into Gray November, a month-long deep discounting period. As brands fight to keep up with competitor discounts, profits and customer loyalty are harder to earn.
I recently spoke with a fashion retailer who recognized the endless discount cycle dilemma. They had been stuck in this discounting rut, but did not want to be known as a discount brand. They prided themselves on making quality product at a decent price and this constant discounting was bad for their brand and devalued their product. This past holiday season, they made a straight forward business decision: No guts, no glory. At their busiest time of the year, they chose to not discount.
It’s a fact. Someone will unsubscribe every time you send a batch promotional email. And while we all hate to see our subscribers go, wouldn’t you be open to a higher unsubscribe rate if it meant increasing your revenue? How you view your unsubscribes not only affects your email strategy and its revenue potential but also influences improvements you should make to your automated messages and your yearly list growth goals. Let’s discuss.
