Connected consumers expect new experiences, personal connections and instant gratification. And it’s generating seismic shifts in the retail landscape. Brands at the forefront of change are forcing competitors to transform, adapt or even join forces. Alliance Data's Now, New, Next trends report examines how brands are navigating these shifts and countering increased customer expectations. Find out how to put these 2018 trends into action through elevated service offerings, deeper engagement opportunities and innovative connectivity.
Designed for retail CEO's, CMO's, e-Commerce Directors, Marketing Managers and other strategic decision makers, the Total Retail Resource Library is the premier source for free retail oriented best practices and case studies.
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When it comes to sales, consumers are accustomed to online shopping. However, when it comes to customer service, brands today still force consumers to either call an 800 number or visit a store. Sure, brands today have incorporated chatbots into their online strategy, but most are poorly designed, don’t use natural language and aren’t capable of learning over time. What’s worse, even though today’s customers are completely accustomed to using search engines when researching queries, brands don’t take this approach with their websites by empowering consumers to research their own customer service issues online. This paper will address the current state of customer service, discuss the journey customers take in present day in trying to get answers to their own questions, and explore the role chatbots are increasingly taking in this journey.
As a retailer, you’re most likely in the throes of planning and embracing for what one can only expect to be another ultra-competitive holiday shopping season. Epsilon recently conducted its annual Holiday Shoppers Voice® survey of retail customers to find out what’s on their minds for the 2017 holiday shopping season. The survey asks customers about different aspects of their holiday shopping process and experience from planning and budgeting, marketing influences on shopping decisions, loyalty programs and promotions, social media, and their shopping location. Several questions include comparable results to previous year’s surveys to identify change in shopping behaviors.
The 2017 Global Sourcing Reference report from Kurt Salmon, part of Accenture Strategy, highlights that retailers which shift production to alternate locations with cheaper labor costs are chasing a temporary fix to a bigger problem, as costs rise in sourcing regions globally. Instead, retailers must move away from a sourcing cost obsession and focus on reinventing their operating model to unlock trapped value in their supply chains. Technology innovation — across analytics, artificial intelligence, robotics, 3-D printing and other areas — will be the key enabler on this path forward, fostering better collaboration and visibility across the value chain while greatly improving product innovation, time to market, reliability, execution and quality.
Tulip Store Associate Survey: Mobile-Assisted Workers Increase Sales and Improve Overall Customer Experience
Tulip recently surveyed over 200 store associates to understand their experiences in brick-and-mortar stores. This report illustrates the detailed survey results and helps readers understand how sales associates are using mobile devices in-store. In addition, the report addresses store associates’ experiences using technology to interact with customers in today’s digital climate.
Jumpshot's data report reveals that the growth of e-commerce platforms has driven consumers away from brand sites to marketplaces where consumers make over 50 percent of their retail purchases. Depending on product category and brand, this rate can increase to 60 percent. Jumpshot studied 42,000 consumer purchases among four major retail brands in the third quarter of 2017. This report analyzes conversions on the brands’ websites as well as popular marketplaces. The brands analyzed include Calvin Klein, Clinique, Michael Kors and Nike, across marketplaces including Amazon.com, Macy’s and Nordstrom.
Vantiv and Socratic Technologies conducted an online survey with 1,001 consumers to learn about their upcoming holiday shopping plans. Shopping online for holiday gifts is catching up to in-store shopping. Consumers estimate that 43 percent of their holiday shopping will be done online this year compared to 47 percent in-store. Thirty-eight percent indicated they will shop more online this year compared to last year for holiday gifts, with convenience being the major reason why (66 percent).
This study provides benchmarking data collected from over 60 executives active in the Global Ecommerce Leaders Forum. This report includes quotes and insights from e-commerce leaders who shared their perspectives on what works and what doesn’t in China.
First Insight examined pricing and elasticity trends on over 90,000 items processed through InsightSuite — the company’s predictive analytics platform which enables retailers and manufacturers to select, price, market and buy new products with no sales history — between September 2015 and August 2017, along with other proprietary data sources. Using its proprietary data on the elasticity of demand, First Insight calculated average price elasticity and the change in elasticity by category and subcategory over the last two years. Categories included womenswear, menswear, children's wear and home goods across North America and Europe.
In order to help marketers make the most of the 2017 holiday season, Zaius surveyed some of the top e-commerce leaders and practitioners to find out how they’re approaching marketing to such a saturated audience. E-commerce is gaining a larger and larger share of traditional retail each year, and this could be its year to shine.
America’s retail and consumer landscape is being dramatically transformed by a set of dynamic tensions emerging as two radically different principles of commercial and social organization collide. Affluence, the traditional approach to growing markets and establishing social status — based on mass production, distribution and media models — is being successfully challenged by influence, the ability to instantly move markets through the amplification and reach of an individual voice or a community of voices.
The Unbxd State of Mobile Product Discovery 2017 report provides insights on key metrics on mobile product discovery, the role of search, and personalization. This report is based on data gathered from 60 million sessions of US shoppers on the Unbxd product discovery platform.