Latest Retail News, Strategies, & Trends - Retail TouchPoints - Retail TouchPoints https://www.retailtouchpoints.com Mon, 21 May 2018 20:28:20 -0400 RTP en-gb Adobe Buys Magento Commerce For $1.68 Billion https://www.retailtouchpoints.com/features/news-briefs/adobe-buys-magento-commerce-for-1-68-billion https://www.retailtouchpoints.com/features/news-briefs/adobe-buys-magento-commerce-for-1-68-billion Adobe Buys Magento Commerce For $1.68 Billion

Adobe will acquire Magento Commerce for $1.68 billion. Adobe will integrate the Magento Commerce Cloud into the Adobe Experience Cloud, creating a single platform for both B2B and B2C customers.

The Magento Platform combines digital commerce, order management and predictive intelligence to enable shopping experiences across multiple industries. The acquisition will add thousands of pre-built extensions to the Adobe Experience, including payment, shipping, tax and logistics solutions.

Both companies will continue operating independently until the deal closes, and Magento CEO Mark Lavelle will continue leading Magento as part of Adobe’s Digital Experience business. He will report to executive vice president and general manager Brad Rencher.

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feed@retailtouchpoints.com (Bryan Wassel) News Briefs Mon, 21 May 2018 17:27:40 -0400
5 Factors Of Freight Taxability https://www.retailtouchpoints.com/resources/type/e-books/5-factors-of-freight-taxability https://www.retailtouchpoints.com/resources/type/e-books/5-factors-of-freight-taxability 5 Factors Of Freight Taxability

Often confusing, freight taxability must be addressed effectively across states in the U.S. as well as internationally. One key challenge is figuring out when freight and shipping charges are subject to sales and use tax.

This e-Book offers the answers. It includes:

  • Five factors of freight taxability to consider;
  • Three examples of differences in state tax rules; and
  • A study of the state of international tax challenges.

Get a handle on state-by-state freight tax complexities. Check out the e-Book now!


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feed@retailtouchpoints.com (Roman Aguila) E-books Mon, 21 May 2018 15:38:12 -0400
Unlocking Geographical Insights From Your CRM https://www.retailtouchpoints.com/resources/type/webinars/unlocking-geographical-insights-from-your-crm https://www.retailtouchpoints.com/resources/type/webinars/unlocking-geographical-insights-from-your-crm

od red cal templateLeveraging geographical insights can help retailers determine profitable locations to build stores and paint better pictures of customers in specific areas.

Join us on June 27 at 12 PM ET for a webcast featuring Esri's retail team as they demonstrate:

  • How GIS can bring together disparate data to find a better connection with customers; and
  • How retailers can use spatial analytics to understand purchase time and place.

Learn how to leverage location data to engage customers. Register for the webcast now!


Who?

1

Emily A. Knish
Solutions Engineer
Esri

2


Gary Sankary
Industry Marketing Strategy
Esri

3

When?

May 23 at 2 PM ET


Register Now!

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feed@retailtouchpoints.com (Devin McDonnell) Webinars Mon, 21 May 2018 15:02:13 -0400
David’s Bridal Promotes Key To CEO https://www.retailtouchpoints.com/features/retail-movers-and-shakers/david-s-bridal-promotes-key-to-ceo https://www.retailtouchpoints.com/features/retail-movers-and-shakers/david-s-bridal-promotes-key-to-ceo Scott Key DavidsBridalRetail veteran Scott Key will take over as CEO of David’s Bridal, moving up from his current position as EVP and General Manager. Paul Pressler, who has held the CEO spot since the departure of Pam Wallack in September 2016, will remain Chairman of the retailer’s Board of Directors.

In his previous role at David’s Bridal, Key was responsible for the marketing, digital and service teams to drive a customer- and digital-first experience. He has held multiple leadership positions at Gap Inc., including SVP/Brand President of Athleta and SVP of Customer Engagement Marketing, as well as head of Gap Global Customer Experience.

“The Board of Directors and I have the utmost confidence in Scott and his ability to take David’s Bridal forward,” said Pressler in a statement. “He has demonstrated a deep understanding of our customer and our business, with a focus on innovation and digital transformation designed to position the brand as the leader in the bridal space.”

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feed@retailtouchpoints.com (Adam Blair) Retail Movers & Shakers Mon, 21 May 2018 12:51:24 -0400
RTP GDPR Test https://www.retailtouchpoints.com/general/pages/rtp-gdpr-test https://www.retailtouchpoints.com/general/pages/rtp-gdpr-test

Form 1

 

 

 

Form 2

 

 

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feed@retailtouchpoints.com (Devin McDonnell) Pages Mon, 21 May 2018 12:12:13 -0400
Walmart Rebrands Personal Shopping Service Pilot As ‘Jetblack’ https://www.retailtouchpoints.com/features/news-briefs/walmart-rebrands-personal-shopping-service-pilot-as-jetblack https://www.retailtouchpoints.com/features/news-briefs/walmart-rebrands-personal-shopping-service-pilot-as-jetblack Walmart Rebrands Personal Shopping Service Pilot As ‘Jetblack’

Walmart has rebranded Code Eight, a subsidiary of the retail giant’s tech incubator Store No. 8, to Jetblack. In 2017, Code Eight started testing a personal shopping service for “busy NYC moms”, designed to enable shoppers to buy and research products via text messaging.

Rent the Runway Co-Founder Jenny Fleiss is in charge of the service. Fleiss first joined Walmart to lead the initiative in May 2017.

Walmart is currently beta testing the platform in Manhattan. Visitors to Jetblack.com are greeted by a landing page that says, “Nice work, you found us!” There is a button on the page enabling users to request early access to the program.

Jetblack is Walmart’s latest go at appealing to new types of consumers, particularly Millennials, as part of its e-Commerce revamp. The target customers for Jetblack are wealthy city dwellers, and the service is designed to offer free delivery of household products within 24 hours. Other purchases are delivered within two business days, and returns can be picked up for free from customers’ homes.

The “Jetblack” name allegedly comes from Marc Lore, CEO and Founder of Jet.com and Head of Walmart U.S. e-Commerce, according to Recode. Lore apparently had the idea for a high-end personal shopping service for Jet.com before it was acquired by Walmart in 2016.

Jetblack is one of several projects being run under Store No. 8. Others include Project Kepler, a startup working to build cashierless stores similar to Amazon Go as well as a virtual reality initiative.

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feed@retailtouchpoints.com (Glenn Taylor) News Briefs Mon, 21 May 2018 11:01:45 -0400
U.S. Hispanics Wield $1.4 Trillion In Purchasing Power https://www.retailtouchpoints.com/resources/type/infographics/u-s-hispanics-wield-1-4-trillion-in-purchasing-power https://www.retailtouchpoints.com/resources/type/infographics/u-s-hispanics-wield-1-4-trillion-in-purchasing-power U.S. Hispanics Wield $1.4 Trillion In Purchasing Power

Economics and demographics are making it imperative for retailers to accommodate Spanish speakers and Hispanic culture — and quickly. In the U.S., 40.5 million people speak Spanish, making it the country’s number-two language. Hispanics currently make up 18% of the U.S. population, but that percentage is projected to top 30% by 2060. Hispanics’ $1.4 trillion in purchasing power is nearly 10% of the U.S. total.

For retailers with global ambitions, Spanish is a good investment: more than 400 million people consider Spanish their mother tongue, making it the world’s second-most spoken language. It’s also the third-most used language on the Internet. Learn more in this infographic from MotionPoint.

[click to expand]

Source: MotionPoint

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feed@retailtouchpoints.com (Roman Aguila) Infographics Mon, 21 May 2018 10:50:27 -0400
Fresh Produce Modernizes POS And Analytics With Mi9 Retail https://www.retailtouchpoints.com/features/news-briefs/fresh-produce-modernizes-pos-and-analytics-with-mi9-retail https://www.retailtouchpoints.com/features/news-briefs/fresh-produce-modernizes-pos-and-analytics-with-mi9-retail Fresh Produce Modernizes POS And Analytics With Mi9 Retail

Fresh Produce, a designer, manufacturer and retailer of women’s lifestyle products, has chosen Mi9 Retail as its POS software provider. Fresh Produce will implement the Mi9 Mosaic platform at its 16 company-owned stores and e-Commerce site.

Additionally, Fresh Produce will utilize the software’s analytics suite to gain insights from omnichannel shopper data. Other features include full transaction management on any device and real-time omnichannel inventory visibility.

 

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feed@retailtouchpoints.com (Bryan Wassel) News Briefs Mon, 21 May 2018 09:35:15 -0400
How To Elevate The In-Store Customer Experience In The Me-Commerce Era https://www.retailtouchpoints.com/features/executive-viewpoints/how-to-elevate-the-in-store-customer-experience-in-the-me-commerce-era https://www.retailtouchpoints.com/features/executive-viewpoints/how-to-elevate-the-in-store-customer-experience-in-the-me-commerce-era

0aaBrendan Morrissey NetsertiveIn the age of e-Commerce, most consumers are used to the notion of instant gratification. With the growing acceptance of ‘on-demand’ options, they’ve become accustomed to quick and easy access to items and services with just the click of a button.

For some small, local businesses, this leaves them shaking in their boots at the thought of this “me-commerce” era that’s become entirely dependent on digital strategies. However, it is possible for brick-and-mortars to survive and — even better — thrive. A recent BrightLocal survey found that 97% of consumers looked online for local businesses in 2017, with 12% looking for a local business online every day.

It’s important to recognize that today, in-store experiences start online. To successfully elevate the customer journey, brick-and-mortars must view their digital presence as an integral part of their in-store strategy. Today’s consumer literally goes through your “digital door” first, and only then — if that experience is satisfying enough — does that consumer enter your physical door. It has become critical to blend these digital and physical experiences together for maximum success. Below are some tips to help better align online and offline experiences to generate improved perceptions of your business, increased foot-traffic and more sales.

Make Friends With Alexa

When searching for local businesses and products, consumers are frequently turning to voice technology like Amazon’s Alexa. According to new data from NPR and Edison Research’s “The Smart Audio Report,” one in six Americans now own a smart device. Thanks to AI technologies like Alexa and Siri, shoppers can be directed towards exactly what they are looking for with one short command. As this technology continues to become more prominent in our cars, kitchens and cellphones, brick-and-mortars must ensure that their online data is searchable for voice assistants and their owners who are always on the go.

To capture high-intent shoppers, business owners should invest in search marketing geotargeting functions like “Google Location Extensions” to ensure voice searches, such as “dealership near me” or “appliances retailer in my area,” result in their business showing up on page one.

Ensure Your Online Presence Matches Offline Experiences

According to PwC’s 2018 Global Consumer Insights Survey, more than one in three consumers rank ‘trust in brand’ as one of the top three factors that influence their decision to shop at a particular retailer (other than price). The same report found a big contributor to this “trust” factor stems from social networks. That’s why demonstrating shared opinions and user-generated content are key. For businesses, this means cultivating a strong online review platform of shared opinions. Consumers are always seeking insights from their peers — whether it is someone who has tried the product before, a friend or a store employee. Sometimes a simple “this is a bestseller,” or, “I’ve tried it and loved it — here’s why,” is all it takes.

Additionally, take title to your physical location information that is scattered around the digital world. When a would-be buyer gets conflicting address, map or phone contact information because you haven’t maintained your information, they feel friction around your “digital door” and likely won’t end up at your physical door.

Deliver On The In-Store Experience

Consumers today want everything to be an experience and that experience needs to show consistency in the digital touches as well as the physical ones. That’s why the industry is beginning to see brick-and-mortars adopt a more “showroom” feel in-store. For instance, Nordstrom opened “Nordstrom Local” in 2017, which doesn’t include a dedicated inventory, but rather an atmosphere built directly around the customer experience where shoppers can make returns, pick up online orders or meet with personal stylists. Creating centralized locations where customers can easily put products to the test and get customized point-of-views from experienced staff results in personalized experiences for those high-intent consumers seeking a real, interactive experience they can’t get online.

Embrace E-Commerce Giants

Growing a business during the rise of e-Commerce may in turn lead companies to join forces with online behemoths through platforms such as the Amazon marketplace. If your inventory matches that of the products sold in these spaces, it may be beneficial to create an expanded online presence for your company through a third party. However, it is critical that before partnering up, businesses carefully evaluate the impact third-party sales can have on their initiatives. Attracting digital shoppers is key, as long as the process follows the strategic business plan in place.

Aligning in-store strategies with direct consumer engagement is critical to coexisting with e-Commerce giants and creating a successful omnichannel strategy. By incorporating these simple tips, small and local businesses can enhance the in-store experience to ultimately drive traffic, encourage repeat purchases and increase their bottom line.


Brendan Morrissey is the CEO and Co-founder of Netsertive, an award-winning technology company offering a digital marketing intelligence platform that brings brands and local businesses together to win local customers. Morrissey has more than 10 years of experience in mobile/wireless, online, telecom and marketing technology environments. Prior to starting Netsertive in 2009, he was the VP of Business Development for Motricity, a mobile portal services company, where he played a major role in the growth, subsequent sale and integration of venture-backed GoldPocket Wireless prior to Motricity’s acquisition. Morrissey has previously held leadership positions at Nextel Communications, InternetConnect and global consultancies KPMG (BearingPoint) and CSC Consulting. 

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feed@retailtouchpoints.com (Brendan Morrissey, Netsertive) Executive ViewPoints Mon, 21 May 2018 09:27:31 -0400
More Than One-Third Of Shoppers Would Pay For Enhanced Loyalty Programs https://www.retailtouchpoints.com/topics/crm-loyalty/more-than-one-third-of-shoppers-would-pay-for-enhanced-loyalty-programs https://www.retailtouchpoints.com/topics/crm-loyalty/more-than-one-third-of-shoppers-would-pay-for-enhanced-loyalty-programs More Than One-Third Of Shoppers Would Pay For Enhanced Loyalty Programs

Consumers spend 37% more with brands when they are loyalty program members; 70% of members say they are more likely to recommend brands with good loyalty programs, and 77% say loyalty programs make them more likely to continue doing business with a brand.

These are some of the findings from The Loyalty Report 2018, published by Bond Brand Loyalty, an annual report based on a survey of 50,000 consumers in North and South America and Europe.

With the benefits of loyalty programs well known, competition among brands for members and a larger share of their spending is fierce — and consumers know it, so they are expecting more in return for their loyalty.

Simple transactional programs that trade dollars for points are losing ground in the wake of more robust incentives. “Alternative” currencies such as complimentary WiFi access, early boarding on an airplane, late checkout in a hotel or members-only discounts from a retailer are seen as highly valuable by 85% of consumers. For even more benefits, consumers are increasingly willing to pay for enhanced loyalty programs.

“This year, the data shows that loyalty programs continue to heavily influence advocacy, retention and spend,” said Bob Macdonald, President and CEO of Bond Brand Loyalty in a statement. “But the loyalty game is changing, as evidenced by new players, evolving experiences and increased customer expectations. Regardless of sector, brands need to rethink their current loyalty strategy in order to increase customer engagement and build loyalty.”

The report also cautions retailers to avoid the four most common sources of loyalty member frustration:

  • Having points expire;
  • Not having desired awards available (because of blackouts, catalog changes or out-of-stocks);
  • Representatives who aren’t knowledgeable about the program; and
  • Receiving an “overwhelming” volume of emails.

Paid Programs Strengthen Their Grip

By bundling a compelling entertainment subscription, a faster “free” shipping program and numerous members-only perks into its Prime program, Amazon has amassed 100 million U.S. members and transformed the way consumers perceive paid loyalty programs. In the Bond loyalty survey, the share of respondents willing to pay for enhanced loyalty programs spiked to 37% in 2018 from 30% in 2017.

Paying for loyalty programs has even greater acceptance with early technology adopters (69%), Gen Z (47%), Millennials (46%) and households with children (44%).

As compared to non-paid programs, paid programs are associated with even higher spending and brand advocacy, as well as greater retention. In addition to Amazon Prime, the report cites two examples of successful paid loyalty initiatives in retailing.

GameStop offers two tiers of paid membership within its PowerUp Rewards program — PowerUp Pro for $14.99 per year and PowerUp Elite Pro for $29.99 per year. GameStop reportedly sees three times higher sales among Power Up Pro members as compared to free members.

Membership to Restoration Hardware’s RH members program costs $100 annually. Since the program was introduced in spring 2016, RH members have become responsible for a whopping 95% of sales, while the retailer boasts reduced return rates and increased inventory accuracy as a result.

Consumers Will Trade Data For Personalized Benefits

The adoption and evolution of technology is having a positive impact on loyalty programs, according to a strong majority of consumers.

In spite of privacy concerns well documented in the press, a vast majority of survey respondents (87%) indicated they are open to having various details of their activity and behavior watched, monitored and tracked by brands in return for access to personalized rewards or engagements. This willingness is even higher among up-and-coming Gen Z consumers at 91%.

Loyalty program members also are eager to engage with brands through new and emerging technologies, with 95% of respondents indicating an interest in such features as augmented reality (AR), virtual reality (VR), chatbots, 360° video and biometrics:

  • Among respondents who have redeemed rewards with their mobile phones, 85% said technology enhanced their experience;
  • Technology that enabled members to instantly redeem points for purchases improved the experience for 84% of those who had used it;
  • Among consumers who had received automatic, location-based offers when inside a store, 83% said technology enhanced the experience; and
  • Engaging with a loyalty program using AR improved the experience for 63% of participants who had done so.

Retail’s Top Loyalty Programs

In general, loyalty program members spend 37% more with a brand than non-members, but the impact can be much higher. The five sectors in which loyalty program members outspend other shoppers by the greatest amount are gas/petrol station programs (99%), hotels (82%), drug stores (63%), movie theatres (61%) and grocery stores (57%).

U.S. consumers were asked to identify their favorite loyalty programs within various business verticals and product categories. Here are some of the top picks in retail based on member satisfaction:

 

  • Grocery

 

  1. Giant Eagle fuelperks!
  2. Smith’s (Food & Grocery) Fuel Program
  3. H-E-B Points Club Rewards
  • Drug Store
  1. Walgreens Balance Rewards
  2. Rite Aid wellness+ rewards with Plenti*
  3. CVS ExtraCare
  • Health & Beauty
  1. Sally Beauty Club
  2. ULTA Ultamate Rewards
  3. Sephora Beauty Insider
  • Department Stores
  1. Kohl’s Yes2You Rewards
  2. JCPenney Rewards
  3. Nordstrom Rewards
  • Apparel
  1. Express NEXT
  2. American Eagle Outfitters AEO Connected
  3. Foot Locker VIP Program
  • Specialty
  1. Barnes & Noble Membership
  2. Cabela’s CLUB REWARDS
  3. Bed, Bath & Beyond Beyond+

* On July 10, 2018, the American Express-created Plenti, a coalition loyalty program in which members could collect points from several different companies, will cease operation.

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feed@retailtouchpoints.com (Marie Griffin) CRM / Loyalty Mon, 21 May 2018 09:12:13 -0400