Shopper Insights

Four out of five retailers attribute almost 50% of their sales to baby boomers.1 But, this is soon to change as 80 million Millennials are entering their peak consumption years. That’s according to this report put together by Synchrony Financial. In it, they share their findings about Millennial and Baby Boomer shopping habits and strategies on how to win over Millennials without losing Baby Boomers. In...

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Ninety percent of all sentiment on social media around loyalty programs is negative, according to a recent CapGemini study.   Combine that reality with the fact that most households are in 15+ legacy loyalty programs already and the tectonic shifts in how consumers are shopping and purchasing today, and it's clear every company must rethink customer loyalty. The first place to start is the idea that only...

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In a recent Harvard Biz article, Peter Merholz relates the trend at checkout toward Square and the Apple Store-type experiences to farmers' markets and food trucks.  Consumers want to tear down the barriers between the shopper and the merchant.  They want the farmers market, not the supermarket.  They want the food truck, not the restaurant, and at checkout, they'd rather remove the big clunky cash register in...

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According to this article, a panel at the Retail Business Technology Expo (RBTE) “likened omnichannel to the early stages of internet connectivity after claiming retailers struggle with the more complex aspects of offering an omnichannel experience, such as personalization, seamless payments and single customer journeys.” Offer personalization by removing silos Many retailers assume each of their retail channels should operate differently. And if they don’t assume each...

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During an earnings season of mostly dismal retail results, including dramatic changes from stalwarts such as Ralph Lauren, Ulta Salon stands out as one of the best performing companies across any sector.  Stock market commentator Jim Cramer attributes Ulta's ability to thrive and buck the trend to a deeper than usual understanding of their customers, that has allowed them to navigate a disruptive shopping landscape.  Cramer...

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Ecommerce sites are required to be a successful retailer. If you don’t believe me for some reason, look at these facts:  Business-to-consumer (B2C) Ecommerce volume in the United States is over $700 billion; worldwide B2C Ecommerce volume is over $1.4 trillion.1 Unfortunately, not all Ecommerce sites generate a large percentage of revenue for retailers, so we want to offer you five ways to improve your Ecommerce...

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Millenials represent a huge audience that is getting bigger and bigger in terms of their retail spending impact. Accenture, in a recent report, estimates millenials represent $600 billion of retail spend, and they expect that amount to grow considerably over the next 5 to 10 years, ultimately reaching $1.4 trillion in spend. Millenials are the first digital generation, but that doesn't mean they are online only...

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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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The following statement should not surprise anyone: Most advertising is not remembered. Most advertising is just noise because “[the] overwhelming majority of the ads that are run are not the least bit relevant to any one of us.” That quote is from this blog post by Steven P. Dennis, a consultant, speaker and writer on retail innovation, omni-channel strategy and marketing personalization. He goes on to say: “The...

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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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