Marketing 101 classes are being rewritten by consumers
Anyone who has taken a marketing class or attended a business seminar can probably recite the 4 Ps of marketing: Product, Price, Promotion and Place. Prior to the internet, consumers literally had to go shops to purchase anything. The best merchants in this product centric world thrived if they mastered the 4 Ps. Today, the 4Ps are far less relevant in a consumer centric world, where you can shop any place, anytime from anywhere. Traditional retailers clinging to the 4 Ps are in trouble. To thrive in today's marketplace requires at least investing in the 4 Cs.
No birthday card from Amazon, but a "Tree of Life" from an Indian hotel?
Today happens to be "blog writing" day … and my birthday. After spending six decades on this planet, you do not get overly excited about celebrating your birthday. I celebrated the fact that I was able to get out of bed, even if I had to get up and write. I opened email and found expected email birthday wishes, Facebook posts, and a cute video from the grandkids. And … there it suddenly appeared … a birthday messaged from the Leela Hotel in India. How is it that an Indian hotel, where I stayed one time, can send me personalized birthday greetings and US retailers don't seem to know that I frequently shopped in their stores?
Can the "Blue Light" specialist even begin to compete with Amazon?
Kmart is actually the third largest mass merchant retailer in the US. It still has over 1,000 big box style stores, offering everything from groceries to electronics. But, its legacy was greatly tarnished when it filed for bankruptcy, only to be purchased by Sears, another retailer struggling to survive. While the press is full of headlines on Amazon, Walmart and Target, Kmart has literally faded from the US retail scene. That was until one single video went viral. Could "Ship My Pants" be the "Gangnam video of retail? Does it signal Kmart's comeback?
Maybe the newest member of the C Suite needs to be a Theater Director
One only needs to peruse the retail headlines to see the wide ranging discussion on the importance of customer experience in retail. In IMS Retail University we make the case very bluntly: "Differentiate or Die". If it only comes down to selling at lowest price, game over. Online and the largest retailers win the price battle, and Amazon wows consumers with both service and price. So, how do you create and sustain experience consumers will value? Retailers would do well to borrow from the playbook of Disney who understands a high quality experience is all about "theater" … and requires a blend of Stage + Actors + Script.
Social media is changing the face of retail … and how retailers market
On a personal note, this is my 300th blog post for Results Count. People often ask me how I find topics to write about in retail. The simple answer is that retail is changing faster than ever before. One of the most significant changes in retail is the changing behavior of consumers, especially in how they shop and connect via social media. Two of the questions I get asked most often are: "should retailers worry about social media" and "which retailers are most engaged in social media"? Some of the retailers most engaged in social media, and most followed, may in fact surprise you as much as did me. Definitely worthy of the 300th blog post.
This amazing Black Friday collaboration is a harbinger of retail to come
Even if you don't live in the US, you've probably seen headlines on the biggest retail days in retailing. But there's a behind-the-scenes story of collaboration that unfolded on this year's Black Friday that you may have missed. Indeed, it is a harbinger of the future of retailers collaborating with new technology to differentiate, and be competitive in a real time online world. There is an old saying about "When pigs fly" referring to things perceived to be impossible. This one seems so unimaginable that it warrants the moniker "When whales fly".
US Moms are the leading edge of behavioral shift to mobile devices
There has been a lot of research on "crossing the chasm"and how technology moves from early adopters to mainstream consumers. With previous technology devices like PCs, much of the migration has been influenced by business and work at home adoption. In the case of mobile devices, it appears that multi-tasking moms are the leading edge of driving smartphone usage.As I watched the mother of my twin granddaughters managing three kids less than 3 years, there is no question why moms lead. What does this trend mean for mobile marketers and retailers?
Musings from a wandering retail traveler who is language deficient
Ever look around a store and notice all the signs? At least in technology stores you can't miss them. There seems to be a plethora of signs touting the latest technology, promotions … and price. Yet, in many clothing stores you hardly see any signs. What would happen to consumer experience if you removed the signs? In my recent travels to Turkey and Morocco, I had an opportunity to experience stores "without" signs, since I didn't have a clue as to what was printed on them. The experience was eye opening.
Bettina Siegel is the poster child for what a blog can do!
Social media gets a lot of hype, but how much power does it really have to change things? If you don’t know Bettina Elias Siegel, you are probably in good company. Ms. Siegel is the author of a small blog that popularized the term “pink slime”. Her blog could be a case study in the power of “viral branding,” which impacted an entire industry. Now, if she would just take on “meat glue”.
Ability to sustain traffic will be a critical success factor
You don’t need to look very far to see another article on the growth of online retailing. The phenomenon of online shopping is truly worldwide. While Amazon grabs the headlines with record profits in the west, Alibaba dominates China. Consumers are voting. The biggest threat to traditional bricks and mortar stores is not the loss of just sales, but the ability to drive future traffic. Two recent tests offer a crystal ball of new challenges traditional big box stores will face in maintaining consumer traffic.
