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Trend Watch

Mobile technology. Digital innovations. Social Commerce. These and many other trends are constantly being changed and being updated with new solutions, services and strategies. Retail TouchPoints editors stay on top of the latest activities and announcements, and bring you fresh perspectives on the hottest trends affecting the marketplace. Check back regularly for the latest new perspectives.

The 'Switching Economy' Leaves $1.6 Trillion Up For Grabs

Shoppers today have access to more product and brand options due to their day-to-day use of digital tools and touch points. As a result, these savvy consumers are more prone to switching businesses if they do not receive the best possible experience, according to Accenture research. In fact, 56% of consumers reported that the number of brands they consider has increased significantly over the past 10 years. And up to 46% of consumers said they are more likely to switch providers versus 10 years ago.

Super Bowl Social Activity Reaches New Heights, But Brands Fail To Capitalize

Over the years, the Super Bowl has evolved from the must-see event for sports fanatics, to a cultural phenomenon of sorts. Now, football fans or not, consumers across the country tune in to the Super Bowl to catch the latest ads from brands and, of course, the half time show. This year's Big Game brought in the highest ratings for any Super Bowl to date, garnering a 49.7 rating in 56 metropolitan markets across the U.S., according to Nielsen. The Associated Press indicated that this stat means nearly half of homes in those areas were watching the game.

Encouraging Innovation And Organizational Change

During his tenure at Hudson’s Bay Company as SVP of Corporate Strategy, Ryan Craver helped the retailer implement a multitude of innovative marketing and engagement concepts. In February 2014, Hudson’s Bay and Lord & Taylor implemented Pounce, a mobile app that allows consumers to scan and buy items in circulars directly through their mobile devices.

Winning The Fulfillment Battle Against Amazon

To win the battle against Amazon, best-in-class retailers are investing in omnichannel inventory and order management. Up to 43% of retailers currently have enterprise-wide inventory visibility and 36% have rolled out real-time inventory updates. Watch this video to learn the four best practices to win the fulfillment battle.

Kate Spade To Shutter All Saturday And Jack Spade Stores

Kate Spade & Company has announced that it would shut down all Kate Spade Saturday and Jack Spade stores by the summer of 2015.  Currently, the company operates 28 Kate Spade Saturday and Jack Spade stores worldwide, including Saturday’s 3,000-square-foot location in SoHo, New York City. The SoHo store opened shortly after the success of the digital display store, which was developed in partnership with eBay Inc. 

NRF Research: Shoppers Will Spend More On Their Valentines This Year

Love is in the air as consumers prepare to hit the stores and purchase gifts for their Valentines. In fact, the average person celebrating Valentine's Day will spend $142.31, up from $133.91, according to the National Retail Federation's (NRF) Valentine's Day Consumer Spending Survey. The survey, conducted by Prosper Insights and Analytics, concluded that total spending will reach $18.9 billion, an all-time high reported in this annual survey. The vast majority of consumers (91%) plan to spend an average of $87.94 on their significant others, up from $78.09 in 2014. Additionally, 59% will spend an average of $26.26 on family members and $6.30 on children’s classmates/teachers.

SHOEme CEO Shares Company Goals For 2015

Roger Hardy is infatuated by all things retail. More specifically, the Founder of Hardy Capital Partners is a retail guru of sorts who strives to entrench himself in businesses that have innovative strategies and strong growth potential. Also the Founder and former CEO of Coastal Contacts Inc., Hardy helped breed the business, which turned into Canada’s largest e-Commerce company. In 2012, the company surpassed $1 billion in cumulative sales. Essilor International went on to acquire Coastal Contacts in August 2014.

Yahoo Exec Discusses New Omnichannel Advertising Trends

The customer journey is becoming more complex. Although the researching, browsing and consideration phases of the buying process are still present, consumers are now venturing across multiple devices during their unique shopping journeys. As a result, retailers are challenged to truly understand customer preferences and create tailored and memorable campaigns. In the below Q&A, Dave Cleary, Vice President and Industry Lead for Retail at Yahoo, will share best practices for crafting an omnichannel advertising strategy that resonates with savvy shoppers.

Insights From The 2015 NRF BIG Show

More than 32,000 retail executives trekked through the blistering cold to attend the National Retail Federation’s annual BIG Show in New York City. Despite the harsh winter weather, morale was incredibly positive and the entire Javits Center was buzzing with activity. The Retail TouchPoints team was at the center of the action, attending sessions, and discussing trends and best practices for 2015.

Cisco Research: Hyper-Relevance Is Key To Winning Digital Shoppers

The modern, digital consumer expects a rich retail experience that provides value and convenience across all channels. To dive deeper into these shopper preferences and identify the potential value of the Internet of Things (IoT) and Internet of Everything (IoE), Cisco surveyed 1,240 U.S. and UK consumers. The research is part of an ongoing global study that will accumulate responses from 6,000 consumers across 10 countries.  By embracing mobile marketing tools and technologies, retailers have the opportunity to create richer and more contextual experiences, according to the report, titled: Winning The New Digital Consumer With Hyper-Relevance.

Retail Innovation Conference Hits New York In June

Retail TouchPoints, the industry's go-to source for customer-facing retail strategies and trends, is hosting the Retail Innovation Conference, June 16-17, 2015 at Apella in New York City. Titled, Rethinking Retail. Reimagining The Customer Experience, the event will feature unique content focused on real-world success stories and the hottest retail technologies and trends. In a highly engaging and collaborative environment, attendees will learn how to keep pace with consumer trends and demands, and extend innovative thinking across the entire organization. 

Is This The End For C. Wonder?

Fashion retailer C. Wonder made a significant splash in the retail world when the brand debuted in 2011. Developed by Christopher Burch — a retail entrepreneur, founder of Burch Creative Capital and ex-husband of luxury designer Tory Burch — C. Wonder became known for its whimsical designs and creative approach to customer acquisition and engagement. But today we may be witnessing the sudden collapse of the budding brand… Yesterday morning, Jan. 5, 2015, C. Wonder called an internal “town meeting” to inform employees that the brand would inevitably be shutting down, according to a report from BuzzFeed. Only a small group of employees will remain with the company until it closes completely.

Amazon Media Group Unveils Trusted Creative Partner Program

Amazon Media Group, which focuses on the intersection of e-Commerce and advertising, has launched the Trusted Creative Partner Program. The Program is designed to allow select agencies to establish and deliver creative programs for Amazon Fire tablets via Special Offers and e-Commerce Ad units.  To qualify for the Trusted Creative Partner Program, organizations trained with Amazon design teams to ensure experiences are customer-centric and tailored to Amazon sites and devices. The Amazon Media Group umbrella includes a variety of platforms, including Amazon.com, Amazon’s mobile shopping apps and sites, IMDb.com and the Quidsi family of sites, among others.

Mobile Sales Reach New Heights On Christmas Day

As consumers spent time with their family and friends on Christmas Day, they also tried to take advantage of online sales and deals from their favorite retailers. Online sales were up 8.3% over the same period on Christmas Day 2013, according to the IBM Digital Analytics Benchmark. The average order value of online purchases was $100.33, a 6.2% improvement over 2013.

Engaging The Connected Consumer: Reviewing The Top Trends Of 2014

With 2014 coming to a close, retail businesses are increasing focus on satisfying their customers’ wants and needs across all touch points. Although mobile and wearable technology gained momentum in the first half of the year, customer loyalty and social media came to the forefront in the second half, as well as cutting-edge technologies designed to help improve the brick-and-mortar experience.
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