Last-Minute Changes Could Impact 2012 Holiday Retail Success

cart-shopping

cart-shoppingWhile most retailers should have their holiday strategies in place and ready to kick off at a moment’s notice, there still may be some leeway for last-minute adjustments based on day-to-day data or changing market conditions.

Pricing is a good example of a strategy that might be re-evaluated on an as-needed basis, throughout the season. In fact, as late as October 17 Target announced a strategy to match competitors online prices during the 2012 holiday season, including Amazon, Wal-Mart, Best Buy and Toys ‘R’ Us, as well as their own Target online prices.

Previously Best Buy was the online retailer to implement that strategy. As of the same time in October, Wal-Mart and Toys ‘R’ Us are only matching local competitors’ print ads.

Continue reading “Last-Minute Changes Could Impact 2012 Holiday Retail Success”

Last-Minute Changes Could Impact 2012 Holiday Retail Success

cart-shopping

cart-shoppingWhile most retailers should have their holiday strategies in place and ready to kick off at a moment’s notice, there still may be some leeway for last-minute adjustments based on day-to-day data or changing market conditions.

Pricing is a good example of a strategy that might be re-evaluated on an as-needed basis, throughout the season. In fact, as late as October 17 Target announced a strategy to match competitors online prices during the 2012 holiday season, including Amazon, Wal-Mart, Best Buy and Toys ‘R’ Us, as well as their own Target online prices.

Previously Best Buy was the online retailer to implement that strategy. As of the same time in October, Wal-Mart and Toys ‘R’ Us are only matching local competitors’ print ads.

Continue reading “Last-Minute Changes Could Impact 2012 Holiday Retail Success”

Halloween Freaky-nomics [Infographic]

Although their costumes may cause a scare, Americans have not been “afraid” of spending this Halloween. In fact, most (70%) of consumers said the economy would not affect their Halloween plans this year. In addition, Halloween sales are expected to reach $8 billion, as reported by the National Retail Federation.

“Americans spend nearly $2 billion on Halloween candy, which makes up 8% of the U.S. sweet sales,” according to this infographic, courtesy of Pronto, which highlights consumer spending during Halloween, as well as the percentage of Americans spending during the holiday.

Note: This infographic was created prior to Hurricane Sandy, so some estimates may be adjusted based on post-storm data.

Continue reading “Halloween Freaky-nomics [Infographic]”

Halloween Freaky-nomics [Infographic]

Although their costumes may cause a scare, Americans have not been “afraid” of spending this Halloween. In fact, most (70%) of consumers said the economy would not affect their Halloween plans this year. In addition, Halloween sales are expected to reach $8 billion, as reported by the National Retail Federation.

“Americans spend nearly $2 billion on Halloween candy, which makes up 8% of the U.S. sweet sales,” according to this infographic, courtesy of Pronto, which highlights consumer spending during Halloween, as well as the percentage of Americans spending during the holiday.

Note: This infographic was created prior to Hurricane Sandy, so some estimates may be adjusted based on post-storm data.

Continue reading “Halloween Freaky-nomics [Infographic]”

Introduction To Applied Big Data For Stores

Alexei_Agratchev_RetailNext1

Alexei_Agratchev_RetailNext1As the Big Data megatrend continues to skyrocket, we’ve seen the rapid development of its lesser-known cousin “Applied Big Data.” Applied Big Data is the practice of using new Big Data computing techniques, platforms, and tools to solve problems that would be unsolvable in the absence of massive quantities of data and the computing power necessary to handle it (versus the general, building-block platforms and components, like Hadoop). Now, we can get even more specific.

“Applied Big Data for brick-and-mortar retail” includes platforms that have the ability to measure and draw actionable inferences from customers’ behavior in brick-and-mortar stores in the same way that their online partners have been doing for years. Applied Data for brick-and-mortar retailers accounts for diverse factors such as the physical location of shoppers and employees in the store; the layout, fixtures, and planogram of the store; staffing schedules; complete detail on actual sales, and even the weather. Input sources can include video cameras, Wi-Fi tracking tags, smart shelf sensors, and other in-store systems like those for Point-of-Sale (POS), staffing, and task management.

Continue reading “Introduction To Applied Big Data For Stores”

Introduction To Applied Big Data For Stores

Alexei_Agratchev_RetailNext1

Alexei_Agratchev_RetailNext1As the Big Data megatrend continues to skyrocket, we’ve seen the rapid development of its lesser-known cousin “Applied Big Data.” Applied Big Data is the practice of using new Big Data computing techniques, platforms, and tools to solve problems that would be unsolvable in the absence of massive quantities of data and the computing power necessary to handle it (versus the general, building-block platforms and components, like Hadoop). Now, we can get even more specific.

“Applied Big Data for brick-and-mortar retail” includes platforms that have the ability to measure and draw actionable inferences from customers’ behavior in brick-and-mortar stores in the same way that their online partners have been doing for years. Applied Data for brick-and-mortar retailers accounts for diverse factors such as the physical location of shoppers and employees in the store; the layout, fixtures, and planogram of the store; staffing schedules; complete detail on actual sales, and even the weather. Input sources can include video cameras, Wi-Fi tracking tags, smart shelf sensors, and other in-store systems like those for Point-of-Sale (POS), staffing, and task management.

Continue reading “Introduction To Applied Big Data For Stores”

Incorporating Better Customer Service Into Social Communciation

Research_piece

Research_pieceAs more consumers shift their brand engagement to social media sites such as Facebook and Twitter, the concepts of marketing and customer service are blurring into a single strategy.

Today’s consumers are more empowered the share their brand experiences and opinions online, stripping brands of the advantage of a one-sided conversation, as noted in a recent study conducted by NM Incite, a provider of social media consumer insights. The company is a joint venture between Nielsen and McKinsey.

The NM Incite study, titled: The State of Social Customer Service 2012, described how consumer behavior on social media channels is impacting customer service and marketing efforts for global brands. Social care, or customer service offered through social media sites, has been used by nearly half (47%) of social media users. 

Continue reading “Incorporating Better Customer Service Into Social Communciation”

Incorporating Better Customer Service Into Social Communciation

Research_piece

Research_pieceAs more consumers shift their brand engagement to social media sites such as Facebook and Twitter, the concepts of marketing and customer service are blurring into a single strategy.

Today’s consumers are more empowered the share their brand experiences and opinions online, stripping brands of the advantage of a one-sided conversation, as noted in a recent study conducted by NM Incite, a provider of social media consumer insights. The company is a joint venture between Nielsen and McKinsey.

The NM Incite study, titled: The State of Social Customer Service 2012, described how consumer behavior on social media channels is impacting customer service and marketing efforts for global brands. Social care, or customer service offered through social media sites, has been used by nearly half (47%) of social media users. 

Continue reading “Incorporating Better Customer Service Into Social Communciation”

MomentFeed Mobile Enables Local Social Marketing

MomentFeed

MomentFeedMost retailers are responding to shifting consumer behaviors with social strategies that connect with target consumers from various touch points, including mobile. But national retailers with numerous store sites are challenged to deliver localization by managing, updating and generating increased social communications across individual locations.

A new social marketing platform from MomentFeed, specifically built for the mobile paradigm, is designed to help store managers and franchisees manage and enhance social-mobile engagement at the local level. Launched October 2012, MomentFeed Mobile offers retailers the option of providing local access to any part of their MomentFeed accounts, allowing store managers and franchisees to engage with local customer communities across Facebook, Foursquare, Instagram, and Twitter directly from the mobile app.

Continue reading “MomentFeed Mobile Enables Local Social Marketing”

MomentFeed Mobile Enables Local Social Marketing

MomentFeed

MomentFeedMost retailers are responding to shifting consumer behaviors with social strategies that connect with target consumers from various touch points, including mobile. But national retailers with numerous store sites are challenged to deliver localization by managing, updating and generating increased social communications across individual locations.

A new social marketing platform from MomentFeed, specifically built for the mobile paradigm, is designed to help store managers and franchisees manage and enhance social-mobile engagement at the local level. Launched October 2012, MomentFeed Mobile offers retailers the option of providing local access to any part of their MomentFeed accounts, allowing store managers and franchisees to engage with local customer communities across Facebook, Foursquare, Instagram, and Twitter directly from the mobile app.

Continue reading “MomentFeed Mobile Enables Local Social Marketing”