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Industry Insights

If you’re looking for experts’ perspectives on the retail environment or a detailed look at the latest retail industry trends, check out the Retail TouchPoints Industry Insights section. Topics cover the gamut from Omnichannel and Mobile to Shopper Engagement and Retail CRM. These articles can help round out a complete look at specific retail segments or the industry as a whole.

TUMI’s Charlie Cole On The Limits Of Last Click Attribution

Even as shopper journeys become more difficult to track, the need for accurate attribution increases. It’s become a major challenge for retailers to understand how every single touch point influences the road to purchase. “Attribution is a very nebulous thing,” said Charlie Cole, VP and Chief Digital Officer at TUMI, when kicking off his RIC17 session titled: Attribution: A Simple Way To Apply It To Your Business. Think about President Donald Trump’s media impressions, Cole told the audience. He referenced Trump’s Wikipedia page, which listed numerous mentions of his name, including comics, hip hop songs and movies such as Home Alone 2: Lost In New York. The result? All of those varied media impressions somehow impacted the election results of November 2016, according to Cole.
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“There’s a really good chance that marketing attribution just led to a new President,” said Cole. “And I mean that, but it’s hard to understand which one of those things and people did what.” Forget Last Click The first rule of basic attribution: don’t start with last click attribution. “[Last click] is not the way to manage a business,” said Cole. “Attribution — at its core — is understanding how to market your brand…

#RIC17 Panel: Compete To Keep Your Customer Front And Center

Recent retail headlines in the business news lately been particularly negative: bankruptcies, store closings and financial woes. Yet research from Deloitte demonstrates that the industry is indeed experiencing significant disruption — but that it’s not just negative disruption. During the #RIC17 panel titled Escaping The Trap Of Convention: How To Rethink Retail And Regain The Customer, Kasey Lobaugh, Chief Retail Innovation Officer at Deloitte and moderator of the panel, reported that holiday 2016 was the strongest retail holiday season since 2011.

Microsoft Exec Shares 7 Tips For CX Success

Marketers are challenged with delivering an exceptional customer experience (CX). They all know and say that CX is very important, but they have yet to master it, according to Jeff Marcoux, CMO Lead for Worldwide Enterprise Marketing at Microsoft.

Retail 2025: AI And Digital Natives Will Rule

As futuristic as the year 2025 sounds, it is now less than eight years away. Will time travel, flying cars and summer vacations to Mars be in the cards? Probably not, but drone delivery, chatbots and an AI-driven retail industry are near certainties. And the people driving these changes, the "digital native" generations, are quite open to disrupting, if not destroying, old retail practices. Sure, McKinsey predicts brick-and-mortar stores will still account for approximately 85% of U.S. retail sales in 2025, but will the shopper journey be the same as it is today? Not a chance. Two sessions at the 2017 NRF Big Show explored the exciting, and at times worrisome, not-too-distant future of retail. For those who are ready to greet the future’s potential triumphs and challenges, read on. For those who still believe the old school model of retail might be coming back, this is your chance to grab an old catalog and dream of days gone by.  The Upside To Being A Disruptor Let’s start off with some good news: by 2020, 30% of web browsing won't require a screen interface, (thanks to AI/natural language recognition-driven personal assistants like Alexa, Cortana and Siri), and cars will be…

NRF17 Sessions: Top Trends In Marketing And Advertising

  • Published in News Briefs
These sessions helped retailers discover fresh concepts, new tactics and best practices from influential leaders who delved into the latest research and strategies that motivate shopper behavior and drive conversions. Data: The New Currency For Retail Marketers Retailers need to be hyper-focused on all the ways data can feed their…
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NRF17 Sessions: The Challenge Of Customer Engagement

  • Published in News Briefs
Attendees heard from top retailers and experts who shared the secrets of combining the uniqueness of a brand with data, analysis and superior customer-first experiences.  The DNA Of The Digital Native Audience Lee Peterson, EVP, Brand, Strategy and Design for WD Partners discussed the seismic change in consumer behavior that…
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NRF17 Sessions: The Benefits Of Radical Retailing

  • Published in News Briefs
From social to AI to VR, these sessions showed why retailers must be on the cutting-edge to engage and keep pace with today’s savvy shoppers. Social And The Art Of The Influencer  This session discussed why partnering with key influencers to engage audiences has become an essential component of retail…
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Study: Gen Z Wields $44 Billion In Buying Power

Generation Z are known to be true digital natives, yet research shows that a majority of Gen Z shoppers prefer to shop in a brick-and-mortar stores. So while many of us would assume this generation is shopping exclusively on their mobile devices…they’re not. However, they are leveraging their phones to look up deals and compare prices when they are in stores. In fact, 25% of Gen Z members spend more than five hours per day on their phones.

Harry’s And Warby Parker Share Insights For Choosing The Best Cloud App

With the benefits of technology come a variety of challenges companies have to face to stay up to date. Cloud apps, for example, have come a long way from the days of traditional spreadsheets, and IT leaders must deploy tools that are available anytime, anywhere and on any device. These same leaders face increasing security concerns, as well. In a webinar hosted by BetterCloud, titled: Not All Clouds Are Created Equal: Choosing the Best Cloud App for Your Business, a panel of IT leaders sat down to share their experiences, challenges and best practices when looking for the best cloud app. The panelists included: Jason Etter, President, Profound Cloud Dave Jackson, Manager, Tech Services, Warby Parker; Colin McCarthy, Associate IT Director, North America, Essence Digital; and Matthew Anderson, IT Leader, Harry’s. Cloud Apps = More Streamlined Versions Of Traditional Spreadsheets The experts agreed that access to information on different devices, faster deployment and scalability were the most signifcant reasons to invest in cloud apps. “One trigger that made us look for a cloud app was when something as simple as a Google sheet didn’t work anymore,” said McCarthy. “Spreadsheets don’t send alerts or triggers when tasks are assigned. When we…

Top Stories Of 2016 Spotlight Out-Of-The-Box Engagement Strategies

2016 was a year of retail disruptors creating unique shopping experiences. Retailers stepped up their game this year by utilizing social media, tech-driven in-store shopping and personalization to stand out among competitors. They even dabbled in augmented reality, gamification and artificial intelligence thanks to the Pokémon Go craze — trends we’re sure to see more of in 2017.

3 Rules For Creating A Successful Niche Marketplace

We all know the big marketplace players: Amazon, Alibaba and eBay. But this list of superstars has the potential to change as more retailers discover the benefits a marketplace can have on their business. In fact, companies such as Crate&Barrel are putting their own unique spin on the concept, by offering a niche marketplace to further engage with customers. Niche marketplaces provide a variety of exclusive benefits that consumers may not get on Amazon, including: A carefully curated extended aisle of inventory they won’t find in stores; Access to an online experience similar to what they’d find in-store; and The ability to create a community of like-minded individuals to share product reviews. As many as 53% of consumers who shop online are already making purchases on marketplaces three or more times a month, according to a 2016 study from Forrester and Mirakl. Additionally, 27% have shopped on more than three different marketplaces, purchasing a variety of products, from apparel and books to electronics.
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“We’re noticing a big push to niche marketplaces that have a very specific and unique value proposition, above and beyond huge marketplaces like Amazon and Jet.com,” said Ben Zifkin, Founder and CEO of Hubba, a B2B…

How (And Why) 5 Retailers Paid It Forward This Holiday Season

The holiday season — especially the shopping — is in full swing, and with the craziness that Q4 always brings, it’s easy to lose sight of things that matter. The end of the year gives retailers the ability to give back to those who need it the most — which can turn even the coldest of hearts as warm as a cup of cocoa by a fire.
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