An unsung hero and often missed "glue of retail" might just be PayPal
Amazon certainly gets the lion share of headlines in terms of online retailing. But, the new normal in retail is more likely to be some sort of multichannel convergence. Innovative retailers are in fact experimenting with how to integrate store displays with online product presentation and purchase. PayPal is a pioneering partner in an interesting experiment with a "Q Route" with the shops of De 9 Straatjes in the Netherlands. For struggling bricks and mortar retailers, much can be learned from watching PayPal … and the Amsterdam retailers who are creating opportunities to shop multichannel seamlessly.
Two simple ingredients of personalization that almost all retailers miss!
Having lived in Canada, it is true that Thanksgiving is also celebrated there, albeit a month earlier than the US. The US Thanksgiving celebration has become a special time to gather family and friends … and hit the retail stores in search of Black Friday deals. What is so ironic about the holiday is the name "Thanks giving". Yet, thanking and recognizing customers are the most fundamental basics missing in retail. In a rush to merchandise and promote, US retailers have lost sight of two simple behaviors that create the personalization most shoppers crave. The ultimate irony is that they cost nothing, but seem the most difficult.
The retail tightrope of balancing inventory and keeping shelves stocked
So, you decide you will go to the store after all to make a purchase. You want see the color, style and touch the actual product. After fighting through traffic, you finally reach the shelf only to find empty space. Unfortunately, the % of items out of stock is increasing in many areas of retail. In trying to balance inventory costs, retailers are willing to risk being out of stock. As a result, both retailers and suppliers are losing significant sales. And, the real question is will you, the consumer, come back to the store after being disappointed multiple times?
Consumers will never trade up unless they experience it themselves
If you are in the market for tech gadgets this holiday season, there are more than ever to choose from! One tremendous opportunity bricks and mortar stores have over online retailers is the potential to demonstrate which products best fit you and your lifestyle. While traveling the world the last couple of weeks, a majority of retailers seem to be confused regarding the difference between demonstrations and presentations. The art of the demo can make a huge difference for them … and you as the consumer.
Perhaps Yogi had it right all along – Nostalgia ain't what it used to be
On my third 15+ hour flight to Africa this year, I decided that it was time for a different kind of post. I've written about trends in retailing. I have recently reported on retail best practices from around the world. We've covered the essentials of consumer experience and what it takes to be successful in retail. Maybe it's time to boil it all down to some good ole "Paraprosdokian" phrases. What, you say? Ride along and see how Yogi Berra might have actually had some profound insights for life … and retail.
