Omnichannel / Cross-Channel Strategies

Cross-Channel Strategies offers readers an inside look at the successful cross-channel promotions, campaigns and programs employed by industry leaders. Retailers across industry segments and regions are adopting unique and innovative approaches to reaching today’s cross-channel consumers. Subscribe to the feed and stay in touch with the latest retail happenings.

The Future Of Social Commerce Is Mobile: Instagram, Peer-To-Peer Marketplaces, Chat Lead The Way

While retailers have tried to solve the puzzle of “social commerce” for years now, it appears the missing piece has been staring them in the face all along: the social shopper is becoming increasingly mobile-exclusive. As of March 2019, there were 105.8 million “mobile only” social network users in the U.S., comprising 51.7% of all social network users, according to eMarketer. In fact, the overwhelming majority (70.5%) of social referrals to e-Commerce sites come from smartphones, according to data from Adobe Digital Insights. Organizations are quickly becoming aware of the move to mobile-centricity: 57% are planning to deploy mobile-first content within their social strategy, according to Hootsuite.

Engaging Shoppers With Relevant, Personalized Messaging Across Multiple Channels

In surveys across the board, marketers say that personalization is a top priority. When done right, it increases engagement, builds loyalty, and drives sales by delivering messages that align with — and anticipate — what each customer wants. Leaders in martech have leveraged technology to reach new heights in delivering highly-personalized, relevant and immediate messaging that’s cohesive across multiple channels. By identifying online shoppers and capturing their associated shopping data to automate content, they’ve drastically raised expectations to the point that most consumers today expect individualized interaction — not just personalized, individualized — that shows them what they want, when they want it, while also saving them time and money. And it’s easier than ever for them to take their business elsewhere if they don’t get what they expect.

Two Paths To Innovation: Kroger Debuts Investment Firm For Brands; Lowe’s Acquires Analytics Tech

Two of the biggest traditional players in U.S. retail, Lowe’s and Kroger, have each made major pushes in the past year to ensure they are keeping up with major industry innovators. But this week these retailers made even bigger splashes, with Kroger launching an accelerator fund for consumer brands and Lowe’s acquiring retail analytics technology from Boomerang Commerce. Kroger has partnered with Lindsay Goldberg, a private equity firm, to form PearlRock Partners, a platform designed to identify, invest in and help grow emerging consumer product brands.

Online CPG Sales Rose 30% Last Year: BOPIS Can Tap That Growth

With Walmart and Amazon both offering next-day delivery, buy online/pick up in-store (BOPIS) options are becoming critical for retailers trying to compete. These services are particularly important for retailers that specialize in CPG goods —two-thirds of regular e-Commerce customers already purchase these goods online, and the added convenience of in-store pickup could help brick-and-mortar retailers capture a larger market share, according to Nielsen data powered by Rakuten Intelligence. The popularity of BOPIS is on the rise, growing from from 4% of all e-Commerce orders in 2017 to 11% in 2019 and continuing to expand, according to estimates by Nielsen. Along with this increase, statistics point to an expanding market for digital sales of CPG products: Online CPG sales have increased by more than 30% year-over-year; 60% of shoppers have browsed and ordered for CPG items online; 28% of shoppers have purchased CPG products online several times per month. “In just the past two years, 29 million new people purchased CPG products online, so there's a lot of energy around in the space right now,” said Justin Belgiano, VP, U.S. E-Commerce Practice at Nielsen in an interview with Retail TouchPoints. Despite this growth, there’s still a large potential market for CPG retailers, Belgiano noted:…

CEO Q&A: How Flont Crafted A ‘Jewelry As A Service’ Experience Via Exclusive Partnerships

The rise of “try-before-you buy” and subscription-based business models has hit just about every corner of retail, including a once-unlikely category: jewelry. One company, Flont, is seeking to bring high-end jewelry to online shoppers for a cheaper price, all while taking away the risks of buying expensive merchandise outside the store. Flont members can keep and swap jewelry as often as they like, or simply rent pieces for three days at a time. Memberships start at $59 per month, enabling shoppers to borrow up to $1,500 in jewelry at all times, and go all the way up to $379 per month to borrow as much as $8,000.

Want To Survive And Thrive In Retail’s New Shopping Battlefield? Capitalize On These 10 Winning Trends

Almost no one can argue that the retail ecosystem isn’t changing at an accelerated pace. But a school of thought around the shift misses the mark pretty badly. Specifically, there are a lot of doomsayers out there who look at store closings (Sears, Lowe’s, JCPenney, Macy’s, etc.) as the harbingers of worse to come for retail, but the truth is that retail is just changing and sales are growing. It’s about where, when and how consumers buy goods that is shifting. That said, there’s a grain of truth to what the doomsayers think: For those retailers, marketers and brand owners that can’t capitalize on the morphing landscape and prepare themselves for and take advantage of disruption, the prognosis is pretty poor as far as their company’s survival goes. Thankfully, as winners and losers emerge on the way to retail’s jagged future, some clear trends for success are emerging. Retail and brand leaders should hop onto them fast if they want to flourish. Here are some of the biggest retail trends, and what brands can do about them:

Localized Omnichannel Should Be A Part Of Your Expansion Strategy

Companies often localize their web sites to generate awareness, engagement and sales in new domestic and global markets. But they often overlook a big opportunity to serve customers in other important channels. With worldwide retail e-Commerce sales expected to grow from $3.5 trillion in 2019 to $4.9 trillion by 2021, retailers should localize their omnichannel contentto increase in-market discoverability and revenue. International customers are more likely to discover a brand’s image, voice and messaging through non-web site channels such as social media posts, localized pay per click (PPC) or promotions and much more.

Shoptalk 2019: How Lowe’s, Tapestry, Pinterest CEOs Adapt To Retail Transformation

While Nordstrom and Macy’s led off Shoptalk 2019 sharing their views on where they need to improve their businesses going ahead, the CEOs of Lowe’s, Pinterest and Tapestry took the keynote stage to share the strategies their companies have adapted to cater to evolving customer needs. Lowe’s is no stranger to working with the consumer, but the home improvement retailer has experienced plenty of changes in recent years that require a new approach to how store associates do their job on a daily basis, according to CEO Marvin Ellison. While Lowe's generates approximately $4 billion in e-Commerce revenue, 70% of those transactions are picked up in, or fulfilled from, the store. In fact, 30% of shoppers that use buy online/pick up in-store will buy additional items upon their visit, showing that integrating both channels drives further company growth.

55% Of Households Use Amazon Prime, But BOPIS Keeps Them Shopping In-Store

Brick-and-mortar retailing still has room to thrive, even in a world where 55% of U.S. households have Amazon Prime accounts: 75% of retail business will still be driven by physical stores in 2022, according to a study by IHL Group. However, traditional retailers will need to adopt technology of their own to fight back against Amazon and stay relevant in this rapidly evolving world. Retailers should keep in mind the top reasons shoppers still visit physical stores over e-Commerce sites: Need their purchase now (23%); Want to touch and feel the product, or need expertise (20%); Don’t want to pay a delivery fee (14%); Want to support local businesses (12%); and Convenience (11%). Most of these desires can be met through a buy online, pick up in-store (BOPIS) program, according to Greg Buzek, Founder and President of IHL Services. This kind of service gives shoppers a reason to come in store, and can provide incentives that Amazon’s limited physical presence can’t match. “People shop at stores because they need it now, or they need more experience: to touch and feel and try it on,” said Buzek in an interview with Retail TouchPoints. “If you can take that ‘need it now’,…

The Vision Of Retail 2020: On-Track Or Off-The-Tracks?

It’s nearly here folks! We’re spiraling towards 2020, where the rubber meets the road on whether our many prolific pontifications of the retail future reside. Walking both the floor at NRF and the city stores of New York, it was hard not to look at our industry through this lens. After all, 2020 was to be the year that cataclysmic indictors came to fruition…where we’d stand back in awe of how far we’d come. So, how are we doing?

RIC19 Retail Innovator Award Nominations Are Open

The 2019 Retail Innovation Conference is a little more than three months away, but it’s not too early to nominate those who have rejuvenated and shaken up their retail businesses with outside-the-box ideas. For the sixth year, the Retail Innovator Award program is recognizing retail executives who are focused on driving change and positive disruption using innovative strategies and technologies. Retail TouchPoints invites you to nominate retail company executives, bloggers/authors and/or industry association executives for the honor. Nominations must highlight: The emerging retail area the executive helped improve; The specific retail strategy or idea launched; and Business results, positive outcomes or expected results following the implementation of the strategy.
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