With recent data from JupiterResearch showing that more than 77% of online shoppers seek customer product reviews before making a purchase decision, retailers and their consumer product vendors are looking for new ways to tap into the power of user generated content.
To help expand the reach of reviews and drive higher conversion rates both online and offline, Bazaarvoice launched a new program this week designed to connect distribution partners called BrandVoice. Continue reading “User Generated Content’s Commerce Connection Tightens With BrandVoice”
The dynamics of the current retail landscape are fast and furious, with the next few weeks sure to turn up the heat even more as retailers look to make up for lost sales after a slow start to the holiday shopping season. Many experts are predicting customer data analytics, and the optimization processes that result from it, will play an essential role as retailers try to maintain their agility.
Continue reading “Leading Retailers Relying On Analytics Tools To Respond To Shifts In Holiday Demand”
Bringing personal shopping to ecommerce, women’s apparel retailer myShape.com is reporting an average of 6-8% conversion rates (and as high as 16% in some cases), according to Mercedes de Luca, global customer experience officer and CIO for the two-year-old company. Typically, industry average ecommerce conversion rates are 1-3%.
Continue reading “Case Study: myShape.com Improves Conversion Rates Via Personalized Assortments”
Retailers must face the reality that the web is in the store. While the initial threat of stores becoming irrelevant due to eCommerce no longer exists, retailers still face a number of challenges, as well as opportunities, to fully absorb the impact of eCommerce on their stores.
In an effort to make it as convenient as possible for its customers to find and purchase their gift items this holiday season, Sears has launched a new mobile shopping application, called Sears2go. The mobile commerce site allows consumers to find and buy merchandise through a mobile version of the company’s Web site.
Continue reading “Sears Crosses Into Mobile Channel With Holiday Launch Of “Sears2go” Application”
After making its mark initially with supermarkets and consumer product brands, mobile couponing is extending its reach into other retail verticals. Matching its target demographic of young, tech savvy consumers, GameStop recently signed with Cellfire to use its service to distribute mobile coupons which are redeemable at its more than 4,200 stores in U.S. and Puerto Rico.
Continue reading “Mobile Couponing Moves Into New Markets, GameStop Plays With New Phone Offers”
Call it the “CSI phenomenon.” As coined by AMR Research retail VP Mike Griswold, it describes the current atmosphere in which every retail expenditure is under the kind of analysis reserved for a crime scene and accompanying forensics. As a result, retailers have moved from trying to guess how much their IT budgets will be cut, to focusing on the projects that they need to execute.
Continue reading “Forecasting Substantial IT Spending Cuts In 09, Analysts Predict Projects To Make The Cut”
The one bright spot in retail spending has been the stored value gift card market. According to recent data from TowerGroup, the gift card market grew almost 17% from $83 billion in 2006 to $97 billion through the end of 2007. However, until recently, complexity and cost factors have inhibited most small to midsized retailers (SMB) from capitalizing on the explosive growth of gift cards. This white paper provides strategies and solutions for SMB retailers to tap into this new revenue streams and increase customer loyalty.
As expected, retailers have kicked off their Holiday promotion efforts early this year. Rather than wait until Black Friday, most retailers started rolling out sales and promotional efforts as soon as the Halloween candy and decorations were rolled away. Obviously, discounting is going to be prevalent this season as consumers become more deal-driven and tightening their belt. According to recent TNS Retail Forward ShopperScape data, 65% of respondents indicated they planned to take greater advantage of good sales/deals.
Continue reading “5 New Promotional Trends Emerge As Retailers Launch Early Holiday Sales Offers”