"Sure, iPads are a great tool for retailers and make a lot of sense in most situations, but we have 2,000 stores — that can get expensive," said Bill Bass, president of the Charming Direct division of Charming Shoppes, who spoke at a session about how customer insights can shape retailers’ futures.
3. Think carefully before working with group buying sites. No one can deny the success and popularity of daily-deal sites such as Groupon and LivingSocial, but there are potential drawbacks to using these services, several speakers noted. For starters, many businesses that have worked with Groupon report that customers don't return to purchase again after they use their coupon. What's more, "there's the possibility that the wrong customers — existing customers who'd likely purchase merchandise in your store anyway — may be getting the deals," said Bass. "This could have a huge effect on margins, devalue brands and cannibalize sales to existing customers," he said.
- People:
- Van Baker
- Places:
- San Francisco