While retailers often spread themselves too thin while in a growth mode, Touch of Modern has managed to buck this trend with a new payments management solution from Tipalti. Although annual revenue increased from $6 million to $100 million since onboarding the solution in 2012, the staff in accounts payable and finance has stayed the same.
Touch of Modern, a members-only web site dedicated to curating and selling undiscovered lifestyle products for men, partnered with more domestic and international product vendors as part of its growth stage. Therefore, the retailer had to figure out the best and most efficient way to pay these vendors — particularly the international ones that accounted for 20% of the business partnerships.
Just eight retailers out of 100 retail companies recently benchmarked by the e-tailing group have been recognized for providing superior online customer service. The other 92 may have a lot of catching up to do.
Clothing retailer Theory has chosen digital e-Commerce provider Amplience to manage rich media elements throughout its site. The Amplience Big Content Cloud is designed to let the retailer run fresh content without deep developer involvement, extensive time or financial investment.
In addition, retailer Hanover Direct has enlisted Amplience and its Big Content Cloud to consolidate digital content features.
After a year with its critical Chief Marketing Officer position vacant, Gap has hired former Abercrombie & Fitch Senior VP of Marketing Craig Brommers to fill the role. Brommers will succeed Seth Farbman, who left the company a year ago.
Last year, the retailer announced it would be closing 175 stores and cutting 250 jobs. Gap Inc. CEO Art Peck emphasized his priority was to grow the brand with the changing market.
When retailers deliver value to the associate, that associate will deliver value to the customer. Many retailers are now allowing associates to pick schedules based on available shifts. WorkJam is providing a mobile and web employee engagement platform that facilitates more agile scheduling. Previously, manual processes and disparate messaging processes inhibited communication with front line workers. When employees are able to choose their work shifts, they are more motivated to go to work.
Traditionally a loss prevention company, Tyco Retail Solutions recently acquired ShopperTrak and FootFall, to help improve the overall customer experience in stores. Tyco is working with retail brands including Macy’s to implement RFID-enabled omnichannel initiatives. For brick-and-mortar retailers to really leverage their inventory, they need to leverage the inventory in stores as well as in fulfillment centers and DCs. Historically that data has not been accurate enough. RFID enables that accuracy.
Retailers are starting to think about distributed commerce – allowing consumers to buy any time, any place, anywhere. Sub-trends include system challenges to do omnichannel commerce effectively and on a personalized level. Because it costs up to 10 times more to acquire a customer than retail one, retailers like Birchbox and Alex and Ani are maximizing customer lifetime value using Sailthru’s One to One mapping solution.
Invue has introduced Smart Locks – electronic locks that receive power from a key. Because retailers are reinvesting in their footprint – including new furniture, elegant designs – the back rooms are shrinking. Smart Locks can be integrated seamlessly into the furniture and self-latches for security. Invue also is introducing a tablet solution that can dock and charge when not being used. Mobility, customer experience and data analytics are three key trends at #NRF16.
There’s a bit of the great outdoors in one of the most urban locations imaginable: the Timberland store in Manhattan’s Herald Square, literally steps from the Empire State Building. The retailer is in the midst of a 90-day pilot there that provides visitors with technological “Sherpas” in the form of NFC-enabled tablets available at a kiosk/charging station. When shoppers use a tablet to tap tagged inventory, rich product information comes up on the screen.
“We’re creating a blended physical/digital environment where we can show product and immerse customers in the Timberland brand, while gaining a better understanding of their preferences in-store, online and post-visit to help shape our retail strategy,” explained Timberland’s VP of Direct to Consumer Kate Kibler in an interview with Retail TouchPoints.
Over the past year, social media has truly come of age. According to Retail TouchPoints’ 2015 Social Commerce Survey, only 7% of retailers do not have a social commerce strategy in place.
But what sets the social media mavens apart from the pack?
For the second year, Retail TouchPoints is honoring brands and retailers that are leading the charge by taking innovative approaches to social media engagement, marketing and customer service.
The 2016 Social Media Maven Awards will recognize organizations for their achievements in the social space. If your brand’s social strategies have achieved results similar to AdoreMe, Belk, LornaJane and MarcJacobs, submit your nomination today!
Retailers will be recognized based on one or more of the following criteria:
Overall social strategy
Best use of up-and-coming social channels
Paid social advertising strategies
Social commerce/social media monetization
A specific social media campaign
The role of social in an omnichannel strategy or campaign
Social customer service strategies
Integration of social media into the store
The ability to identify and leverage social advocates
Use of social analytics
To nominate a retailer for award consideration, please complete the form below, then click “submit.” Questions? Contact Content Strategist Alicia Fiorletta via email at email@example.com. The nomination deadline is April 8, 2016. If requested, nominations can remain anonymous.