Industry Wire

10/27/2017 in Industry Wire , by

Price Alone Won’t Drive Consumer Loyalty

Consumers' price sensitivity has been a challenge for retailers ever since the global financial crisis some 10 years ago, but price alone is not enough to drive consumer loyalty. Newly released survey data from Blackhawk Network, a financial technology company, suggests that when gauging loyalty to a brand, consumers place a higher value on qualities such as experience and convenience than they do on price. The June survey found that 94%…
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10/25/2017 in Industry Wire , by

Beacons Are Still Trying To Find Their Place

Although the industry is settling on a few practical uses for beacons, primarily as a helpmate for attribution, they’re just one marketing data point among many – a tactic. “Beacons are only one piece of the equation, a component of a larger effort,” said Chris Cunningham, CRO of proximity and location data aggregator Unacast. “There are lots of other valuable location signals out there, including Wi-Fi, geofences, IoT and first-party apps.”…
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10/23/2017 in Industry Wire , by

Mobile Deal Hunting Common as Consumers Browse In-Store

About one-third of US adults use a mobile phone to look for nearby deals while shopping, and millennials—particularly female millennials—are considerably more likely to do so. According to data from Simmons Research, nearly half of US women ages 18 to 34 surveyed in May 2017 said they use their phones to look for local deals while shopping. By comparison, only 40.8% of millennial men said the same, but they were still…
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10/20/2017 in Industry Wire , by

How in-store social sharing can bring a little spark back to retail

Nike capitalizes on its iconic "swoosh" symbol to create photogenic spaces. Swedish retailer Bubbleroom has high-tech selfie mirrors in its dressing rooms. Kate Spade stores feature colorful, quirky wall decor. These types of in-store attractions not only draw customer foot traffic, they also inspire shoppers to snap smartphone photos to share on social media. Doing what they can to encourage this type of social sharing could save retailers from the looming…
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10/18/2017 in Industry Wire , by

Millennials Love A Good Bargain, Use Digital Coupons Heavily

Newsflash Baby Boomers and Gen Xers: you have more in common with Millennials than you think. At least when it comes to bargains. With 97% of 18-34-year-olds owning a smartphone, according to Nielsen, the coveted Millennials are money conscious, time-crunched and using digital coupons on a regular basis. Digital coupons go above and beyond saving a few dollars—they make shopping an easy, personalized, shareable, and completely Millennial-friendly experience.  According to…
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10/16/2017 in Industry Wire , by

Push Consumers To Shop InStore

As Amazon continues to heap pressure on retailers by shifting customer expectations concerning fulfillment and pricing, department stores may be suffering more than anyone, says a new study from L2News by Adriel Tey. Many retailers have responded by leveraging off-price subsidiaries to acquire new, value-oriented customers attracted by the prospect of finding bargains on luxury items formerly stocked at full-price stores, says the report. This represents a reversion to a…
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10/13/2017 in Industry Wire , by

A billion reasons why loyalty program marketers need customer identity

While it might seem easy to get consumers to sign up for your loyalty program, keeping them active and engaged is another story. What’s $100 billion mean to you? Depending upon what side of town I’m on, it’s 74 times the value of the home team, the Chicago White Sox, or 37 times the value of the Chicago Cubs. It’s roughly the value of the world’s most valuable brand, Google. And it’s the total value of…
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10/11/2017 in Industry Wire , by

NRF STUDY: IN-STORE CUSTOMER EXPERIENCE REIGNS SUPREME

Despite the growth of e-commerce and its incredible convenience, most consumers prefer the in-store customer experience, according to a new study from the National Retail Federation. In fact, the study shows that only about a fifth of U.S. consumers are primarily online shoppers; more than three-quarters are shopping at brick-and-mortar stores, which is as much or more than they did a year ago. The NRF launched Consumer View, a new quarterly…
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10/09/2017 in Industry Wire , by

Flonase gets NFC-enabled ‘smart’ shelves in Canadian retailers

Brief: GlaxoSmithKline, the drugmaker whose revenue grew 3% to $9.42 billion in Q2 2017 from a year earlier, introduced “smart” shelves for its Flonase allergy medication. Consumers in Canada can use a smartphone with a near-field communications (NFC) chip to tap a Flonase shelf in stores and get more information about the product, according to a press release. Thin Film Electronics developed the high-tech shelves that contain special tags to give consumers an…
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10/06/2017 in Industry Wire , by

Most Retailers Have Made a Start, at Least, with Mobile

Many retailers have some form of mobile technology in place, including mobile sites and apps, according to a study conducted by BRP (Boston Retail Partners). A large share of retail executives in North America surveyed said they have implemented a mobile site or mobile app. Fully 60% said they had implemented a mobile site, and of the remainder more than half expect to build one. Meanwhile, 53% have created a mobile…
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