Digital technology is forcing retailers to redefine how they market and sell to consumers. That means embracing digital channels like social media and mobile. We've heard the sob stories of retailers like Borders and Circuit City that inevitably failed because they didn't embrace digital fast enough. Digital is a must, both online and offline, and only some retailers are starting to get that. Here are some alarming facts about retail in digital
James Marcum, former president & CEO of Circuit City, discusses the changing landscape of big box retail.
Mobile technology has empowered consumers to expect to have the information they need, and to consummate the transactions they want, whenever and wherever they are. This ability to have instantaneous access to product information and pricing can be of tremendous benefit to consumers and retailers alike, but in the form of "showrooming" it's become many retailers’ worst nightmare.
- Strengthens Strategy & Services, Merchandising and IT Leadership - MIAMI -- The Systemax North American Technology Products Group, a business unit of Systemax Inc. (NYSE: SYX), which includes the TigerDirect, CompUSA and Circuit City brands, announced today that it has appointed three new executives. Joining the leadership team are Jed Stillman, Executive Vice President of Strategy and Services, Michael Amkreutz, Executive Vice President of Merchandising, and Michael Jones, Chief Information Officer. David Sprosty, Systemax’s Chief Executive of the North American Technology Products Group, commented, “On behalf of our Board of Directors and employees, I’d like to welcome
The Borders near me closed the other month. Wasn't surprising. Ditto for Circuit City. Gone. A few years prior to that it was Hollywood Video that rolled its end credits. The problem is, none of them had to go. They each died of self-inflicted wounds.
In a little over two days Borders will be liquidating its remaining stores and it's still a mystery about what's going to happen to its Borders.com website, its rewards program, its extended warranties for e-readers, etc. The only thing certain for consumers now is that the bookseller will continue to honor its gift cards throughout the liquidation process. But it won't be selling any new cards, Borders spokeswoman Mary Davis said on Tuesday. The company is still reviewing the plan for its Borders Rewards loyalty programs, Davis said. Customers who signed up for Borders Rewards received discounts and free