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Executive ViewPoints

 
Executive ViewPoints allows retail thought leaders to share insights on industry trends and strategies, through bylined articles, which include a brief author bio, headshot and company link. Viewpoints articles are designed to provide retailers key strategies, recommendations and takeaways to help optimize the customer experience and improve overall business processes.

Taking Your E-Commerce Efforts Global

  • Written by Ralf Gladis, CEO, Computop, Inc.


Computop_Ralf_GladisYou may be looking at possibilities overseas for growing your business.  If you want to offer an online store for consumers abroad, it is essential to know the payment expectations, regulations and requirements of the local markets and prospective customers. 

For example, a consumer in Germany expects to see a retailer with prices posted in Euros.  In the UK, people assume an online shop will have prices in British Pounds.  Any divergence from these expectations will make a prospect hesitate, and that increases the chance of the consumer leaving the website and going elsewhere for his or her purchase.   

This also applies to the payment methods that customers expect to see at the checkout, because with the sensitive issue of payment, consumer trust will help influence the conversion rate.  While credit cards and PayPal are accepted and used around much of the world, only offering these methods to international consumers will limit conversions.  There are important payment methods specific to different countries which will be key to success.  Let’s take a look at some of them.

Read more: Taking Your E-Commerce Efforts Global

Reinventing Retail Part 2

  • Written by Colleen Coleman, Assistant Vice President of Merchandising, Cognizant Business Consulting


Cognizant_Colleen_ColemanAs the global economy has expanded and provided a multitude of options for how, where and when shoppers make purchases, the nature of retail has changed. Retailers must adapt to the competitive landscape, and in turn, update the in-store experience. Smart retailers have taken these shifts in the marketplace as an opportunity to enact new strategies for retail. The shifting economy has impacted not only the way stores sell to customers, but also the inherent structure of retail organizations. Today’s leading retailers are keeping customers happy by creating positive shopping experiences and offering the personalized service shoppers demand.

In the first part of this two-part series, we focused on myths around large retailers and product design. The second part will address the third and fourth myths related to how retailers are addressing the changing nature of business.

Read more: Reinventing Retail Part 2

Top 10 Ways Connected Retailers Can See Black During The 2013 Holiday Season And Beyond

  • Written by Jon Stine, Director, Retail Industry, Cisco Consulting Services

Jon_Stine_Official_Cisco_photo
Cisco has always been keenly interested in the impact of the Internet on society. We have watched through the years as the Internet has transformed the retail industry, not only with e-Commerce, but in shopper expectations for convenience, product availability and service. 

We’re entering a new era of technology-shaped retail; one driven by the connection of products, people and processes to the Internet. Actions of all types — product movement through the demand chain, shopper dwell times in the aisle, associate interactions — can now be turned into data, and that data into insights. Today’s leading retailers are data mavens — and are able to know sooner, decide smarter and act faster than their competitors. The result? An advantage that translates into growth on top and bottom lines.

Read more: Top 10 Ways Connected Retailers Can See Black During The 2013 Holiday Season And Beyond

Tackling The Urban Myth Of Big Data

  • Written by Dr. Matthew Green, Managing Director, emnos U.S.


Dr_Matthew_Green_Emnos“Big data” has become the hot new reality star.  It has broken past the business and marketing magazines into consumer and mainstream news.  It makes and rides its own social media trends.  It hovers between savior and scandal.  Indeed, “big data” seems to have its own talent agent and publicity team — and they have a star on their hands.

Yes, big data is everywhere.  It is constantly generated and stored in virtually every aspect of our lives. Whether it’s diagnosing an illness, educating our children, or riding in a car, big data is transforming our society by identifying patterns of behavior and making correlations with predictive assessments.

While it’s been around since the advent of retail, The Great Recession put big data in main stage spotlight.  The downturn’s long-term effects put more pressure on retailers to make sharper business decisions, while battling for thinner customer wallets and more elusive loyalty. It has since reached obsession-level in marketing social media circles where articles and blog posts on the subject are heavily shared and debated.

Read more: Tackling The Urban Myth Of Big Data

Use Videos Along The Path To Purchase To Increase Sales

  • Written by Dr. Melody King, VP of Marketing, Treepodia


Melody_KingKeeping online shoppers engaged (and buying) takes constant attention from retailers. How do you borrow the tactics that work in-store, like end-cap displays and piles of inviting merchandise, to attract customers in the online world? While images help, video goes much further in getting shoppers to dig deeper into product benefits, and eventually add items to their cart. In fact, our own research has shown that videos can drive immediate and significant increases in sales, so there’s a good argument for using video as much as possible on your online retail storefront.

However, videos can find a home in many more places than just product pages — which are certainly important for video, but you can gain more ROI on your video investment, and garner more sales, by placing video throughout all of your customer touch points. This means everywhere from search and online advertising, to customer email newsletters and more.

Read more: Use Videos Along The Path To Purchase To Increase Sales