Best Practices

Tesco, the large British retailer, recently announced one of the largest losses in British corporate history recently.  Much of the loss was attributable to property write downs as a result of a recognition of changing consumer shopping habits the retailer had failed to adapt to in recent years.  The company has new leadership which is orchestrating a turnaround. Donal MacDaid, in Talking Retail, summarized the key...

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We all know the forces of the past decade - search, social, mobile, Amazon - are changing every industry.  But consumer-facing commerce has been at the tip of the spear, as empowered consumers are now in the driver's seat and forcing brands and service providers to change quickly and dramatically to keep up.  Forrester research calls this era the "Age of the Customer", and encourages...

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  Omnichannel. Omnichannel. Omnichannel. It’s the buzzword of the retail industry right now. But one woman, Andrea Weiss, co-founder of The O Alliance, says we should “stop thinking about omnichannel, and think about circular commerce.” That quote comes from this article. The author goes on to say she was “referencing the idea that each channel should feed into one another versus operate as separate silos and that...

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According to this article by Forbes, “there are currently 191.1 million online shoppers in the United States – with more than $703 billion being spent on B2C ecommerce volume.” If you are reading this, it’s likely you are a retailer that wants in on some of this money. Well, if you really want in, you should understand today’s online shopper. Luckily, the same Forbes article offers...

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We found this article published by the Wharton School of Business that speaks to what makes a great shopping experience. The author of this article shares five pillars of retail satisfaction that should be used to build a platform that can help to create an amazing shopping experience. Those five are: Engagement: being polite, genuinely caring and interested in helping, acknowledging and listening. Executional excellence: patiently explaining...

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Facebook Messenger is no longer just a way to privately speak to friends or family. It’s a platform that adds value to a transactional relationship between customers and brands. One way is through customer service. Recently, “KLM Royal Dutch Airlines became the first air carrier to adopt [Facebook Messenger] for its customer service.” That information comes from this article by CRM Daily. According to the author,...

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Do you know what omnichannel actually means? The author of this article does: The term “omnichannel” refers to the zigzag paths customers often take to arrive at a purchase. This can include many different touchpoints—online research, conversations with associates, mobile beacons, etc., in any given order. The goal is to make it easier for people to find you, buy from you, and buy more from you, either...

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“We are heading toward a future where Instagram and Facebook could be amongst the largest retailers online. Their new focus on enabling transactions is likely to solve one of retail’s biggest problems: the extremely low conversion rate of shoppers on mobile phones.” This is a quote from this article posted on WWD. Yes, social media networks are going to launch buy buttons on their websites. It makes...

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“According to Boston Retail Partners’ 17th Annual POS/Customer Engagement Benchmarking Survey, 85% of the respondents indicate that unified commerce is their top priority.”1 What exactly is unified commerce and what does it mean for retailers? Well, according to this article from Demandware, “retailers are striving to eliminate channel silos and deliver a seamless experience across all touch points by leveraging a single, unified commerce platform for...

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According to this infographic by McKinsey, “Retail Success today is all about developing the tech, tools and talent to be relevant to the individual.” We completely agree with McKinsey: The future of retail is “me-commerce.” The best way to prove this is to note this fact: “Amazon’s recommendation engine accounts for approximately 30% of its revenue.”1 And this is from 2012. The trend continued on and...

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