Although brick-and-mortar stores continue to acquire the largest share of store sales, consumers are starting to demand more connected, digitally driven shopping experiences.
Because retailers are unable to address consumer demands, there is a gap growing between consumers’ expectations and retailers’ strategies. This gap is referred to as the “New Digital Divide,” and is spurred on by the increasing usage of digital and mobile devices throughout the buying journey, according to research from Deloitte Digital.
EBay will launch a new seller advertising service in June called Promoted Listings. Sellers using the service will only pay an advertising fee for items that are actually clicked and purchased. The invitation-only service is available to a limited number of eBay Store subscribers in the U.S., UK, Germany and Australia. EBay plans to expand the program later in 2015.
Through Promoted Listings, eBay sellers can bid for promoted ad space, empowering them to buy prime positioning on search results and boost item visibility. Sellers can bit between 1% and 20% of the item’s sale price, according to eBay.
While a necessity for most retail businesses, advertising can be expensive and sometimes complicated to manage. To ensure advertising channels and tactics meet expectations, more retailers are relying on the power of analytics.
National Builder Supply, an online wholesaler of lighting, kitchen and bath items, leveraged call tracking services from CallRail to gain further visibility into inbound calls and decrease pay-per-click (PPC) ad spending by 60% within a single month.
Every shopper is unique: Different tastes, preferences, purchase patterns and intentions make each buying journey vary from the next.
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Up to 86% of shoppers research products online before they visit a store, according to A.T. Kearney. Retailers are striving to capture the attention of these omnichannel shoppers by better bridging the gap between their digital and physical brand experiences.
Adagio Teas, a purveyor of gourmet teas and relevant accessories, is embracing Omnyverse, an affiliate network from Linkable Networks built exclusively for card-linked offers. Built on top of Linkable Networks technology, Omnyverse is designed to help retailers engage shoppers with digital SKU-level and storewide promotions. Shoppers can redeem these deals automatically and without the need for paper, printing or promo codes.
Walmart has unveiled more information than intended on its new shipping program designed to compete with Amazon Prime. Details on the initiative, called ShippingPass, were leaked via an internal link on Walmart.com, according to Tech Crunch.
Subscription services such as Netflix and Spotify have significantly shifted the way people consume media. Charging a monthly fee, these subscription services satiate consumers’ appetite for anywhere, anytime access for videos and music.
Now, retailers such as Amazon are tweaking their business models by including auto-replenishment and subscription services that can help add ease and convenience to consumers’ everyday lives. After all, 63% of shoppers say they are interested in subscription programs where they automatically receive products based on purchase history or preferences, according to Accenture research.
Just like retailers are striving to better connect and engage with shoppers, Epicor focuses on doing the same thing with its users. During the annual Insights conference, which was held May 18-21 in Nashville, Tenn., Epicor executives shared the company’s solution and service roadmap with more than 3,700 attendees.
Today’s retailers are looking to “get out of IT and focus on the customer journey,” noted Branden Jenkins, General Manager, Global Retail at NetSuite. Jenkins explained that “retailers must transform their systems and the way they engage with customers.” One way to manage that transition is to move to a single commerce system in the cloud. During the 2015 NetSuite SuiteWorld event, billion-dollar retailer Billabong announced the implementation of NetSuite SuiteCommerce across 10 different brands throughout 20 different countries. Other retailers using NetSuite to focus better on the customer include Alton Lane and Lovesac. These retailers were among more than 7,000 attendees at the SuiteWorld event in San Jose, Calif. in May.
A fast-growing furniture retailer, Lovesac has expanded to 60 stores and an online business in 10 years. To continue on a strong growth path, Lovesac needed a flexible and scalable commerce solution. With 400 fabric choices, several cushion choices and combined in-store and online purchasing, “the complexities were too much for a traditional point of sale system,” noted Kim Dietz, Product Manager, Omnichannel for Lovesac during the NetSuite SuiteWorld event. In beta testing NetSuite’s new SuiteCommerce InStore solution, Lovesac has found the complete system to meet its needs. When researching new solutions, Lovesac “starts with the customer,” explained Darren Johnson, Senior Director of E-Commerce, rather than “building solutions for technology’s sake.”