Market Trends

Leapfrogging The Competition

Very interesting that RSR research concludes that “50% of laggards (those underperforming retailers) are using homegrown or customized solutions vs. only 29% of Retail Winners. Winners are more likely to use either on-premise or cloud-based packaged solutions.  These same Winners are more likely to extend their eCommerce platforms into their stores for customers, employees and even as a Point of Sale device.”  Packaged tools are becoming well-aligned with common retail processes and channels are blurring across retail operations.  Leading retailers are leveraging a packaged solution base and enabling their unique business requirements upon that base then leveraging the natural integration provided by packaged tools to drive consistency across all channels.

 Post based on Original Article Source.

A foundational principle of RSR’s research is that Retail Winners think and do things differently than the competition. While a company might get lucky, and hit on a unique, desirable product that drives great sales for a period of time, history has shown us that in and of themselves a special product or category just isn’t enough to drive sustainable results.

In other words, for the short term, customers will put up with almost anything to get the “next big thing.” The operative phrase here is ”short-term.” They’ll wait in long lines at stores, tolerate slow or unstable web sites, and wait weeks or months for delivery… whatever it takes to get the next Beanie Baby (okay, I’m dating myself here, but I think you get my point). Niche products have a shelf-life and their value can plummet overnight. Put another way, today’s $9,000 curved screen TV is tomorrow’s $1,500 deal. Today’s hot product is tomorrow’s commodity or worse.

Suddenly yesterday’s hot retailer is today’s laggard… with sales falling below the Mendoza line of inflation rates.

This begs the question: what do you do […]

By | 2018-04-23T10:32:53-04:00 February 25th, 2015|Categories: In the News, Market Trends, NRF, Retail|Tags: , , , |0 Comments

Retailers wrestle with the future of shopping

Successful omni-channel retailers are beginning to break down the walls between store and on-line and become customer-centered by aligning the organization, processes, data, reporting and systems.  What’s needed are simple, intuitive, fast tools that provide customer insights across the retailer’s entire product and channel portfolio.  Tools like SAP’s Customer Activity Repository are customer-focused and provide simple, fast access to customer channel preferences by product, season, promotion, location, plus a host of additional data elements.

 Post based on Original Article Source. 

Retailers want their shoppers to have the same experience whether on the phone, on the computer or in the store.

One inventory, one unified customer service experience, one checkout. It can mean pick-up in store, ship from store, click and collect, order in-store or a number of other options that make it painless to get what you want, wherever you are, when you want it.

This is what retailers mean when they talk about “omnichannel,” and it’s at the top of their priority lists this year, according to the National Retail Federation. The topic took center stage at the eTail West Conference in Palm Desert on Wednesday. The conference, hosted by Worldwide Business Research, runs through Friday.

“What’s going to happen over the next five years is a merging of online and offline into a single retail organization,” said Forrester VP and Principal Analyst Peter Sheldon, during a keynote presentation at the J.W. Marriott.

To be successful with such a transformation, Sheldon said, retailers will have to stop thinking about their digital and in-store customers as different people, and their online and physical store sales as separate. Because they’re not, he said. A Forrester study found that half of sales that take place in physical stores were influenced by […]

REPORT: U.S a laggard in fast-growing online grocery

“While online grocery shopping is booming worldwide, the U.S. lags behind countries like the U.K., South Korea and France, where the practice is more established, according to a report issued Wednesday by Dunnhumby.

The study, which tracked consumer habits of 7 million shoppers in 14 countries in Europe, Asia and the Americas, showed online grocery shopping in emerging and nascent markets was growing by 97% and 98%, respectively, year-on-year. Dunnhumby classifies U.S. as an emerging market, along with China, Slovakia, Czech Republic, Poland, Ireland, Japan and South Africa, with online sales penetration of 0.9% in 2014. Established markets like the U.K., France and South Korea have penetration of 4.8%, and year-on-year growth of 31%, dunnhumby said.

According to the report, the physical store still plays an important role for U.S. shoppers, particularly in their acceptance of new products. “While there is strong multichannel growth throughout the world, there are particular challenges in the U.S. preventing the market from reaching the same level of development as elsewhere,” said Julian Highley, global director of customer knowledge at Dunnhumby, said in a release. “In smaller cities, it’s likely that ‘click and collect’ services will be the dominant method for online shopping. Major market locations like New York City, Chicago and Los Angeles have started to roll out ‘click and deliver’ grocery services with some success.”

The report also noted differences in shopping behavior online and in physical stores, saying the path to purchase changes in the absence of in-store stimulus. The three categories with the highest share of online sales — frozen meat, baby food and baby care, and canned food — have an average annual online growth rate of 21%, Dunnhumby added. Across established, emerging and nascent markets, baby food and baby care products […]

By | 2018-04-23T10:32:55-04:00 February 19th, 2015|Categories: In the News, Market Trends, Retail|Tags: , , , |0 Comments