Mark Wattles knows his way around retail. So when he acquired a 6.5% stake in Circuit City last year, he clearly saw an opportunity to cash in on the consumer electronics retailer either turning its business around or at least becoming a takeover candidate. Now that Wattles has been successful in campaigning to drive out Philip Schoonover from the CEO seat, there are still some big questions and hurdles in the way of Wattles and other stockholders cashing in on a buyout.
Continue reading “What’s Wattles Have Up His Sleeve? Can A New Management Team Attract A Suitor For Circuit City?”
The roller coaster ride that is the financial marketplace over the past month will not affect retail open-to-buy dollars or inventories for the holiday season. But experts say retailers should get used to a phrase that will become much more important than any government bailout. That phrase: “the psyche of the American consumer.”
Continue reading “Experts Say Recent Wall Street Tumbles Could Further Rattle Consumer Psyche”
By stepping out of the office and into the stores, the e-tailing group captures unique insights into successful retail marketing and merchandising practices. In the fourth year of its Cross-Channel Shopping Study, the e-commerce consulting firm found that retailers are more dedicated to shop online/pickup in-store and are moving towards improvements in other cross-channel areas such as in-store web tie-ins, buy online/return in-store and online store locators.
Continue reading “Mystery Shopper Research Uncovers Improvements In Cross-Channel Marketing”
Personalization, product comparisons and content management are features commonly associated with the e-commerce channel. These and other shopping tools are now working their way into the store environment and the hands of associates on the selling floor. These and other emerging strategies and tactics were spotlighted during a recent Retail TouchPoints webinar titled “Automating the In-Store Experience with Cross Channel Intelligence,” which was sponsored by iCongo and Motorola.
Continue reading “New Solutions Automate The In-Store Experience With X-Channel Insights”
In tough economic times, everyone wants a good deal, particularly in the U.S. In a recent survey, GfK Custom Research found that 76% of Americans strongly/somewhat agree that “I feel really satisfied with myself, even excited, when I get a really good deal.” That number is 10 points higher than the total number globally for other countries. The GfK August 2008 report includes input from more than 1,000 U.S. shoppers over age 18 and more than 500 Hispanic consumers to determine the best ways to reach specific populations.
Continue reading “New Study Points to Sales Opportunities Within Emerging Demographic Groups”
Several research reports released last week showed the undeniable reality check that awaits retailers this holiday season. Most merchants will be faced with the slowest sales growth since 1991. In order to remain solvent and competitive beyond this critical further quarter period, analysts stress retailers must get closer to their customers by adopting online tools and analytics capabilities.
Continue reading “Reality Bites: Retailers Need Cross-Channel Tools To Overcome Bleak Holiday Outlook”
Looking to improve the shopping experience and stand apart from its competitors, Circuit City is betting a lot of its future on its new ‘the city’ format. And one of the key differentiators for the new format will be the Enhanced Digital Guide Experience (EDGE), a handheld selling tool designed by the retailer and Microsoft. Delivered on Tablet PCs running a custom Windows-based application designed to help inform and engage customers.
Continue reading “Circuit City Grabs An EDGE By Incorporating Multi-Channel Intelligence Into Tablet PCs”
Personal shopping devices for consumers are reaching their “tipping point.” With at least one high-profile retailer signaling success with an initial test, experts say 2009 could be the beginning of the handheld device era for grocery, warehouse clubs and pharmacies.
Continue reading “Personal Shopping Devices Preparing For Tipping Point In Adoption In 2009”
Fueled by rising gas prices and a slow economy, more consumers are shopping near work or on their commute route, according to recent research. In the August 2008 Consumer Intentions and Action survey from BIGresearch, 57.2 percent of respondents indicated they will be driving less because of gas prices. In addition, 54.4 percent said they would be taking “fewer shopping trips.”
Continue reading “With Shopping Trips Down, Retailers See Redemption Rates Soar On Work Targeted Promos”
Gap Inc. posting an 11% same store sales drop for the month of July wasn’t a huge shock to retail industry watchers, but one analyst in particularly has been extremely vocal that the dip points to much larger problems for the chain.
Continue reading “Brand Keys CEO: Gap’s Soft Comp Store Sales Indicative Of Wider Branding, Cross-Channel Failures”