Challenges and Opportunities
OneStopPlus.com is taking a different route than most cross-channel retailers — it put its first catalog in the mail this week after previously selling exclusively online. The incremental lift in sales that mailing catalogs produces will be measured, just as the ROI of every other marketing channel used by OneStopPlus.com is, Urvina noted.
For Loehmann's, mobile presents a huge opportunity. While the retailer doesn't have an e-commerce site, it's dipped its toes into the mobile space via text messaging campaigns and a coupon offer on mobile app Yowza. As for the challenges the retailer faces, daily-deal sites (notably Gilt Groupe) pose a formidable opponent. The sites are able to promote brand names in their marketing efforts, which Loehmann's can't, putting it a distinct disadvantage.
Speaking of flash-sale sites, Coach has begun using the format too. The retailer's factory business has used the sales model and seen it generate an incremental profit. Coach also plans to invest more resources in building out its mobile website, which is in its infancy.
All panelists agreed that new technology is great, but cautioned that it must make sense for your brand. And making sense for your brand is a nice way of saying that it must produce a strong ROI.