Note: This article originally was featured on the MITX blog. With holiday 2014 already at our doorstep, the current climate can look dark for many retailers. Ecommerce sales are projected to rise 16.6% this year to over $72 billion in holiday 2014, according to eMarketer. Despite overall sales number projected to rise, a shortened holiday[…]
In retail, arguably no trend is more popular than dynamic pricing. As pressures mount on both storefronts and ecommerce spaces, many organizations are looking toward dynamic pricing as a way to keep up with the (giant) elephant in the room: Amazon. But when using this weapon in the fight with Amazon, two important questions arise: How[…]
We know ecommerce is eating in-store retail. But what if you could combine the two for the best of both worlds? A whitepaper from Rodney Mason of Parago outlined the changing face of retail and in-store vs. ecommerce. There are many great takeaways from the research, including how to integrate the benefits of shopping online[…]
A new study from the Journal of Consumer Research looked at how differing pricing strategies impact where customers decide to shop. A key takeaway: customers will visit storefront they believe are cheaper most of the time.
We’ve talked about customers wanting a new storefront, and technology is rapidly bringing that to market. Over the next five years, the low-energy bluetooth/iBeacon industry will have 60 million+ units in the market. While there’s a major push for this tech in smart home tracking, retail will be the most valuable sector. From TechCrunch: However,[…]
Retailers already feel massive impact from Amazon, turning their storefronts into showrooms. But will the Amazon Fire smartphone make matters even worse? If you’re managing a physical retail location, Amazon’s new Firefly app should be a major concern. How does it work?
Retailers know dynamic pricing is a great way to maximize revenue at the individual transaction level – but how do you keep customers happy, knowing someone else could have got a better price?
With doorswings down, the storefront is in need of an overhaul. And here’s the thing – shoppers are ready and willing to experience the physical location differently, especially via smartphones. More from Latitude…
We know e-commerce is impacting physical store sales – but just how bad is it? As noted by The Wall Street Journal, foot traffic and new retail space are down drastically: Retailers got only about half the holiday traffic in 2013 as they did just three years earlier, according to ShopperTrak, which uses a network of[…]
Retail is facing a major challenge: the sharp decline of foot traffic in store. According to ShopperTrak, 2013 saw half the holiday foot traffic of 2010. Those purchases are shifting from in-store to ecommerce, as noted in an IBM consumer study: