Online retailers are turning to "chat" to engage you & close sales
In our last blog "The Power of How," we discussed a major difference between ecommerce and retailer stores. Online retail is very effective and efficient IF you know WHAT you want and need. A tremendous advantage of retail stores is the Associate, who both can ask "How" they can help and showcase ways how they can create a personal solution for you. What if online websites could provide personal assistance if you get "stuck", or just need more information to make a decision. There are online retailers that are doing just that by making a "digital Associate" available to you through a "chat" dialog box. It sounds great to have someone accessible at your fingertips! Does it work? What are the risks?
How one three letter word can create a personal buying experience
Much has been written and continues to be written about the battle between online ecommerce and retail stores. If it is only about lowest price, game over. Online wins IF you, the consumer, already know what you want. Online retailers are really efficient at helping you find the "what" at best price. The real potential of bricks and mortar stores is being able to address "how" to help you buy a better solution. "How can I help you" is the foundation for stores to offer personalized service required for the consumer centric world of today.
Amazon gets the press, but Alibaba and Asia are surging in online sales
I was asked again in a recent Retail University class why we spend so much time on Amazon and ecommerce. Actually, that is a very good question on two levels. At the most basic level, Amazon has become the poster icon for disrupting retail by changing consumer behavior. But, at another level Amazon is not the only "A" player in ecommerce. In fact, the dominate player that we should be studying worldwide should probably be Alibaba. They are certainly well positioned in the largest consumer market, with skyrocketing ecommerce growth.
Showrooming is not a fait accompli … or the death of bricks and mortar
The term "showrooming" is the new buzzword in the dictionary of retail. It refers to the act of consumers literally shopping on their smartphones while in the aisle of a retailer. Consumers using mobile devices to shop in aisle has been noted as particularly impacting consumer electronics retailers like Best Buy. In fact, it has been portrayed that bricks and mortar retailers have become "helpless has beens". But, Best Buy and others are fighting back. There are 5 ways that retailers can beat showrooming by changing the consumer experience.
When you are in charge … it's all about personalization for "me"
It's the "Age of the Consumer". That's not new news. The lead articles on retail are chocked full stories about how consumers are now empowered through their mobile devices and online shopping. Consumers have indeed changed their behaviors, and more importantly their expectations. With the ability to shop any time anywhere, consumers have come to expect new levels of personalized service. This age of retail has truly become all about what you can do for me. What does this new level of personalization mean for retailers?
Amazon is a classic case study of how to excel at both simultaneously
The term "consumer-centric" has been bandied about in retail a lot recently. What does it really mean to be a consumer centric retailer? Obviously, it means to be focused on a consumer's point of view and their interests. Yet, retail has historically focused on merchandising and selling products when consumers come to the store or website. To survive, retailers must profitably sell products. But today, omni-channel is the new retail normal. It’s not a question of either or. To be successful long term retailers must essentially become schizophrenic and master the art and science of both consumer and product centricity.
Tomorrow's consumers will expect a seamless omni-channel experience
In gearing up for retailing in 2013, it is interesting to read the headlines and predictions. While much has been written on the future of specific retailers or the success of ecommerce over stores, relatively little has been written about consumers. At the end of the day, the results that count are the ability to attract consumers and engage them in ways they find valuable. Indeed, fundamental changes in consumer expectations and behaviors will be the drivers that change the face of retailing. Those retailers that both adapt and innovate based on changing the consumer experience will be in the best position to thrive.
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.
Who will be retail's Big Dog … and who is barking up the wrong tree?
If you live in the US, retailing is going to be very interesting by Black Friday this holiday season. The major retailers have come out of the blocks early with price matching guarantees. Target was one of the first to fire a salvo with their "Big Dog" commercials airing three weeks before Halloween. It's going to very interesting to watch the competition as savvy consumers increasingly go online to shop and compare prices. The consumer is definitely in a position to cash in, but who will be the top dog of retail this holiday season?
Growing worldwide trend of online retailers shipping to local lockers
The growth of ecommerce is literally old news. Pure e-tailers and traditional retailers with online sites are increasingly winning the hearts and wallets of consumers purchasing good deals online. Beyond "best prices", there is the convenience of being able to shop in your pajamas 24/7/365, and have it delivered to your door. But, what if you are not home? What if you purchase food and you don't know when you'll get off work? The race is on to provide the convenience of buying online and picking up at your local locker.
