20-Plus Things to Watch in Retail, Part 1
9. For-profit chains, nonprofit stores. Watch for retail chains to test nonprofit endeavors that enable customers to take part by simply consuming as normal, the report noted. Nordstrom's Manhattan concept store, Treasure & Bond, for instance, gives all proceeds to local charities. With growing expectations that brands enhance the communities where they do business, watch for philanthropic stores to gain wider adoption.
10. Geofencing. Look for more brick-and-mortar retailers to launch mobile-based programs that target consumers who are in or within range of one of their stores, the report said. While the technology has been in place for a few years, more retailers will adopt it as a way to combat showrooming and survive in today’s hypercompetitive environment. Best Buy, for instance, uses eBay’s price comparison app RedLaser to show shoppers in-store specials and other relevant information. Skincare brand Kiehl’s sends geofenced texts to opted-in consumers in the vicinity of its stores. And Twitter is planning a service that would show promoted tweets only to those users of its mobile app who are in a specified radius.
Check back tomorrow for part two of this blog series.