Out-of-stocks continue to plague the retail industry as one of the biggest causes of lost revenue and customer frustration. Now a new research study from IHL Group has helped to quantify just how big the problem is for the industry and also identifies the biggest laggards when it comes to in stock positions.
Consumers experienced out-of-stocks during approximately 17.8% of their shopping trips, which is about 123% higher than the out-of-stock rate claimed by retailers for themselves, according to the new report from IHL Group titled “What’s The Deal With Out-Of-Stocks?”
Continue reading “IHL Group IDs Biggest Losers When It Comes To Out-of-Stock Failures”
The 2008 holiday season has been stressful at best for both consumers and retailers. Most of us would like to call 2008 an anomaly, but is that a safe assumption? We will only know for sure next year, but in the meantime, retailers, consumers and industry analysts are reviewing what they have learned this year in hopes that it will help for next year.
Continue reading “Mid-Season Report Card For The Holiday Season Shows Missed Opportunities”
With zero up-front costs to advertisers, the edo Interactive Marketing Platform allows businesses to target specific consumer groups with incentives called “Prewards” that are loaded on to a facecard prepaid MasterCard. The advertisers pay only when the incentive is redeemed, so the return on investment is a built-in guarantee.
Continue reading “No-Cost Incentive Program Helps Retailers Reach New Customers With “Prewards””
After all the same store sales plunges, consumer spending pullbacks, profit nosedives and pricing collapses, one of the few the most positive image of 2008 can be found in a swirling picture of snow set against an iPhone screen and a big red bullseye. With Target, Amazon, and The Gap leading the way, the past two weeks has definitely put mobile applications on the retail agenda to stay.
Continue reading “iPhone Apps Represent New Window Of Opportunity For Retail Marketers”
Editor’s Note: This article is an excerpt from one of RetailWire’s recent online discussions. Each business morning on RetailWire.com, retail industry executives get plugged in to the latest news and issues with key insights from a “BrainTrust” of retail industry experts.
Retailers may be engaged in markdown mania but research from OgilvyAction concludes that if they really want to move product they need to get it out on secondary displays.
Continue reading “RetailWire: Research Shows Impulsive Displays of Consumer Buying Behavior Still Exist”
While many other retailers are struggling, business is good at Family Dollar. The 6,700 store value chain is adding stores and posting increases in the 3% range. Not resting on its laurels, the company understands that competition means constant improvement to the in-store customer experience. The check out process is one of the latest areas where the chain chose to make an impact on that experience.
Continue reading “Case Study: Family Dollar Optimizes POS System With Embedded Apps”
Sometime shortly after December 25 when the whirlwind of 2008 is in the books, retailers will need to face the reality of recovery. They will need new strategies for the aftermath of promotions, profit shortfalls and sheer change that the past year has wrought. Many experts are pointing toward customer segmentation as the best way forward.
Continue reading “Recovery ‘09: Retail Rebound To Take Shape Around Customer Segmentation”
Spartan Stores, the nation’s tenth largest grocery distributor, is rolling out Perpetual Inventory and Computer Automated Ordering solutions developed by SofTechnics. The Grand Rapids, Michigan-based grocery wholesale distributor and retail operator is utilizing the solutions for improved management of product selection, reduction of out-of-stocks, better forecasting, profitability at SKU level, and reduction of costs.
Continue reading “Spartan Selects SofTechnics Mobile Apps To Improve Inventory Management”
At first glance the results from the recent Black Friday and Cyber Monday sales gave the retail community some hope that consumers might be willing to open up their wallets again. Shoppers upped spending on Black Friday by 7.2% over last year, with the NRF’s 2008 Black Friday Weekend survey conducted by BIGresearch, estimating total Black Friday spending at $41 billion. Online sales for Cyber Monday also jumped 15% from a year ago, according to data from comScore, Inc.
Continue reading “Warning Signs Within Black Friday, Cyber Monday Spikes, As Retailers Go “All-In” Early With Holiday Deals”
As a well-published academic specializing in international retailing Tony Gao, PhD, Marketing, Northeastern University, has written about some of the most complex issues the business can serve up. How does “The Antecedents and Consequences of Organizational Commitment in the Korean Retail Context” strike you for complexity?. But when it comes to the current retail environment, even he is taking a strictly back-to-basics approach.
Continue reading “Northeastern Professor Gao Offers 4 Point Plan of Attack To Address New Retail Realities”