With retailers offering discounts 24/7, for any time or reason, seasonal sales events such as “Back To School Daze” and “Black Friyay” could be losing steam.

However, recent data indicates that the concept of “everyday’s a sale day” can peacefully cohabitate with traditional retail holiday events, as long as retailers remain flexible.

The traditional retail calendar is evolving as data-driven insights and shifting consumer behaviors reshape the industry.

Evolving Retail Strategies: Flexibility and Personalization

Retailers are creating strategic sales events throughout the year, providing consumers with more opportunities to save and engaging experiences that drive loyalty.  Even behemoths such as Amazon embrace “Prime Day” events twice a year, which are not tied to any holiday or season.

However, retailers can be rest assured that not all customers want to do all their gift shopping in July.

According to the National Retail Foundation, customers are still accustomed to spending money seasonally, and retailers are ready to deliver safe, convenient and affordable shopping experiences with the products and services consumers want.

Further, they expect retailers to entice them with special pricing to kick off the spending season.

However, retailers are expanding the length of these seasons – for example, Black Friday is no longer just a one-day event but now encompasses the entire weekend as well as Cyber Monday.

The NRF reported that last year, a record 200.4 million consumers shopped over the five-day holiday weekend from Thanksgiving Day through Cyber Monday. That’s a 1.8% increase from 2022.

Historical data shows that Thanksgiving shopping has trended upward, although the COVID pandemic did adversely affect 2020 and 2021.

Today’s shoppers are looking for deals and special offers outside of traditional holidays. In response, retailers are creating sales events throughout the year, often tied to specific product categories or customer segments.

Omnichannel Operations & Promotion Planning

In addition, retailers are taking those targeted campaigns and focusing their reach on individual customer preferences and behaviors.

Businesses have successfully promoted omnichannel retailing, which has led to an expectation of flexibility, not only in how shopping occurs, but also when it happens.

As the lines between online and offline shopping have blurred, traditional event-based sales have become less relevant – as well as when those take place.

Retailers are increasingly leveraging advanced analytics and visual analytics tools, such as Retail Pro Decisions and Retail Pro Reporting, to identify optimal sales periods and personalized experiences to provide more sales opportunities.

Software solutions like Retail Pro Reporting help retailers get valuable insight into their business that can be customized endlessly to identify seasonal trends that might lend themselves to a new promotional opportunity.

A visual analytics software like Retail Pro Decisions, on the other hand, can alert retailers in real time to deviations that will be helpful in considering the timing to launch a sale.

No longer bound by traditional sales calendars, retailers are making more data-driven decisions to optimize sales and foster loyalty and retention.

While the retail landscape is evolving, traditional seasonal sales events remain relevant, albeit with a twist.

By embracing flexibility and data-driven strategies, retailers can harmoniously blend everyday discounts with iconic events such as Black Friday and Back to School.

The Benefits of Consolidating Point of Sale Data

The Opportunities in Your Data

Measuring ROI of relationship building with loyalty programs

This entry was posted by Ulyana Avetisov on Thursday, October 24th, 2024 at 2:50 pm .

Catering to the preferences and behaviors of Generation Z (or, “Gen Z”) customers has become a top priority for brands aiming to stay relevant and competitive.

Key to fulfilling that goal is a commitment to innovative retail strategies.

Gen Z, born between 1997 and 2012, has an estimated $450 billion in global spending power, and of that, $360 billion comes from the United States.

This generation is known for its tech-savvy nature, strong desire for authenticity and preference to purchase experiences rather than material possessions.

To be successful with Gen Z shoppers, a well executed, thoughtfully planned digital presence is mandatory.

Because experiential customer experiences go much farther than traditional marketing in engaging this influential demographic, many retailers are hosting coordinated events that provide unique and memorable experiences.

Such collaborative events bring together multiple brands or influencers to create a dynamic and multifaceted experience.

Leveraging digital connections Gen Z notices

For instance, a clothing retailer might partner with a local artist and a popular social media influencer to host a fashion show and meet-and-greet event, allowing Gen Z customers to interact with their favorite personalities and discover new products.

By fostering such collaborations and connections, retailers can tap into the social networks and communities that are important to Gen Z.

Prom events are another popular way for retailers to engage with Gen Z customers.

The largest U.S. beauty retailer, Ulta, sponsors prom-themed beauty events where customers can receive makeovers, hair styling and personalized beauty consultations.

Such events, in combination with its popular loyalty program, has enabled Ulta to create a base of customers that are likely to be loyal for many years because of the beauty giant’s tailored approach.

Such events create a sense of community and excitement among Gen Z customers, particularly because prom is a milestone for many – and they also drive foot traffic into the store.

Nike, too, is tapping into the popularity of loyalty programs with Gen Z.

The athletic shoe powerhouse has launched the NikePlus membership program, which provides members early access to new products, exclusive events and personalized training plans.

Gone are points systems and coupons as rewards: Brands that understand Gen Z’s taste and interests and create loyalty programs broadcast across channels to cultivate a sense of belonging among this demographic.

With Retail Pro Prism, it is easy to keep track of data about your customers so you can best reach them on whichever channel is most effective, and track and analyze different segments of your customers.

Sending regular messages to customers via SMS or email using digital marketing tools such as OptCulture for Retail Pro. It makes advanced segmenting and consistent targeted marketing across channels an easy feat you implement once.

For these digital natives, tech plays an important role in how they view a brand or product.

Immersive and interactive experiences appeal to Gen Z customers; as a result, retailers are incorporating virtual reality and augmented reality technologies, enabling customers to try on clothes virtually or customize products in real-time.

By embracing cutting-edge technologies, brands are able to create a unique and memorable shopping experience, which is especially appealing to this demographic.

The celebrity angle

Designer and celebrity collaborations can also boost a brand’s status with Gen Z.

Take Crocs, the foam footwear brand that has reclaimed a top spot in the footwear world.

The brand has partnered with high-end designer Balenciaga and as well as a range of celebrities — including Post Malone, Justin Bieber and Luke Combs – which has further propelled Crocs resurgence.

Brands and retailers that prioritize offering experiential customer experiences are well-positioned to capture the attention and loyalty of Gen Z customers.

By organizing events, implementing innovative loyalty programs, and integrating technology into their stores, brands continue to create avenues to set themselves apart in a crowded marketplace and forge lasting connections with the next generation of consumers.

Pop-Up Stores Support an Omnichannel Vision

Connecting with Generation Z

Brands Explore Creative Ways To Boost Customer Loyalty

This entry was posted by Jennifer Bosavage on Friday, May 31st, 2024 at 1:11 pm .

The retail landscape continues to evolve: big retailers are simultaneously expanding and contracting, and malls are examining their place among consumers.

Somewhat paradoxically, customers seem to be gravitating toward smaller, more curated experiences from well known and respected brand names.

Operational shifts and expansion like this requires flexibility and a broad network from a point of sale software system.

Retail Pro is an ideal partner for such moves, with Retail Pro Prism’s flexibility and partners spanning the US as well as across the world.

While a significant — and growing — number of sales are made online, brick-and-mortar shopping continues to appeal to shoppers, especially those who have immediate needs, or want to inspect a product before buying.

If high-end retailers can accurately predict what their target customers want in-store, trending data seems to indicate that’s a recipe for bottomline success.

One big question facing these large, established brands is, how can they attract shoppers who seemingly have adopted a more cautious attitude toward discretionary purchases?

Smaller has a larger impact on big retailers

Retailers, including Macy’s and Best Buy, are researching building smaller stores with strong integration between online and offline channels.

Retail Pro Prism is a great point of sale software for omnichannel retailers because it connects all your data for insight and operations that help you build better retail experiences.

Such strategies will help retailers cater to specific customer needs or demographics in a more focused way.

They can offer a curated selection of products that are tailored to the local market, which can attract customers looking for a more personalized shopping experience.

That’s easier said than done, particularly for a retailer with a New York flagship in Harold Square that boasts more than one million square feet of retail space.

Macy’s CEO said during a recent earnings call that the department store would be focusing on creating the “best stores, not the largest number of stores.”

In fact, although Macy’s has announced that it will close 150 underperforming stores during the next three years, it also said it will invest more heavily in its small-format retail brands, “Market by Macy’s” and “Bloomie’s.” The company reportedly aims to add 30 off-mall locations by the end of 2025.

Evolution of the mall and its traditional retailers

Macy’s joins a trend of large retailers with a well-heeled customer base that are leaving the confines of traditional, suburban malls where they have long been coveted as “anchors.”

Many anchor retailers, from Neiman Marcus to Sears, have faced dire economic straits and left malls, leaving property managers to reassess the need for storefronts to fill those vacancies. 

As a result, many malls are experiencing a rebirth by including a new mix such as bowling, golf, fitness centers and even apartments.

Such planning benefits the remaining retailers by increasing foot traffic within the mall. 

Best Buy is also testing offering a “curated selection” of products, Geek Squad services, and scan-and-go capabilities.

It tested the concept in late 2022 with a 5,000 sq.ft. location in Charlotte, N.C.

The off-mall location strategy of creating a slimmer, more curated customer experience has been successfully employed by Nordstrom through their Nordstrom Local brand.

One of the key reasons these locations are popular is their convenience factor.

Customers can easily return and pick up online orders.

In addition, customers tend to buy more merchandise once they are in the store.

According to Nordstrom, the Local brand’s average customer spends 2.5 times more than a regular Nordstrom customer.

Shifting the type of physical presence a retailer has is easier when a retailer uses a POS software with flexibility, especially when it comes to the back-end.

Retail Pro Prism’s architecture allows for independent and easy management of opening new stores around the world, easing any other number of questions this sort of change in operations creates.

The depth of customer analytics Nordstrom has accumulated allows it to provide targeted services it knows its shoppers appreciate.

Some of the services offered at Nordstrom Local stores include personal stylists, pickup and return for eCommerce orders, alterations, gift wrapping, dry cleaning and complimentary refreshments. 

Such shopping perks illustrate the importance of understanding customer personas to draw and retain shoppers, in addition to the actual in-store merchandise.

Crucial to success in this new paradigm is continuing to exceed customers’ expectations, both in terms of product inventory and experience.

That’s a big ask in a slimmed-down space. Answering successfully requires knowing and understanding the customer’s needs, and being able to meet them not only today, but tomorrow as well.

Retailers turn to expanding physical footprint post-COVID with regional support from Retail Pro Business Partners

Direct to consumer brands restructure retail strategies

Pop-Up Stores Support an Omnichannel Vision

This entry was posted by Jennifer Bosavage on Tuesday, April 30th, 2024 at 6:21 pm .

Remember when “As Seen on TV” products were only available by calling the number on the television screen? Products such as Chia Pet, The Clapper and even The Snuggie all became pop culture icons by infiltrating TV programming.

But as the internet took off around the turn of the century, companies found less expensive and more strategic ways to sell their products. Enter Warby Parker, Everlane and Casper, which made up the first generation of digitally native DTC companies.

Back then, those brands and others like them were happy selling a relatively niche product online without all the costs associated with brick-and-mortar retail distribution.

Today however, DTC companies are evolving to further expand their market share, joining forces with large, well-known retailers and big-box stores, as well as with holding groups.

Such collaboration is paying off, both in revenue and mindshare.

This expansion requires software with flexibility that allows for organizational intricacies.

The distribution and audience gains require resources through their software that can shift to support the areas that get new stress.

Retail Pro Prism’s flexible software with a vast library of Plugins and omnichannel support provide the necessary visibility and capabilities for brands to adjust their technology according to their strategies.

Embracing Brick-and-Mortar

Partnering with brick-and-mortar retailers has provided DTC brands access to a wider consumer base and the opportunity for more personalized customer experiences.

The ability for customers to experience these products in person is a huge win, and makes a true omnichannel experience possible.

With the integrated inventory visibility afforded in Retail Pro Prism, customers can check in-store stock of an item, place the order, and immediately experience it upon pick up in store.

Entering the brick-and-mortar space as a previously pure ecommerce brand also likely requires the inventory and broader data integration and visibility that omnichannel brings.

Retail Pro Prism provides flexibility in configuring your omnichannel POS system, so you can adjust it as you grow to satisfy your business’s changing needs.

In addition, Retail Pro Prism has a built-in customer management system that enables an associate to access prior purchase history, note preferences and other relevant information that makes for the kind of personalized customer experience shoppers have grown accustomed to online.

Direct to consumer brands Joining Forces with Holding Groups

Holding groups provide financial backing, operational support and expertise to a larger network of retail partners, so brands can scale their operations and consolidate resources more efficiently.

An example of this arrangement is the partnership between Casper, the popular mattress-in-a-box company, and Target Corp. Since 2017, Casper products have been sold on Target’s site and in its stores. The strategy allowed Casper to expand its reach outside of online sales and tap into Target’s extensive retail network, broadening its brand visibility.

Meanwhile, Target could provide its customers a popular DTC brand’s innovative sleep products, which aligned with the big box store’s focus on providing high-quality and trendy home goods.

There are a number of ways a large chain can structure their POS system, and even more configurations could be made to sell these DTC brands’ products within the larger big box ecosystem.

With Retail Pro Prism, vendor management capabilities are useful in these arrangements between specialty brands and big box retail. Subsidiary management capabilities in Retail Pro Prism are pertinent as well.  The connected data and visibility across all levels of operation that Prism facilitates will be valuable in these circumstances.

A connected view of inventory will be necessary for the DTC brand to maintain the seamless online experiences they are known for when venturing into the brick & mortar experience.

The rise of DTC brands has revolutionized the retail industry, prompting brick and mortar stores to reevaluate their perceptions of what customers want.

As brick and mortars look to fulfill those needs, DTCs are seeking to increase the ways in which they can reach new customers.

Collaborations with holding groups have allowed DTC brands to work more efficiently, while their bigger retail partners are able to offer smaller, innovative brands.

The success of those partnerships is evident in the increased revenue and mindshare gained by DTC brands.

And, as the retail landscape continues to evolve, more partnerships between DTC brands and established retailers can be expected, further shaping the future of customer shopping experiences.

Are DTC brands coming of age?

DTC brands have a big impact on traditional retail

This entry was posted by Jennifer Bosavage on Tuesday, November 21st, 2023 at 5:16 pm .

Retail crime is on the rise: A National Retail Federation survey released last month estimated that “shrink” — the term for losses in the retail sector — amounted to $112.1 billion in 2022, up nearly 20% from the year before.
But as criminals continue to exploit retailers’ vulnerabilities, stores are investing in measures to safeguard their assets, employees and customers.
Here’s how companies are coping with rising retail crime and some strategies to prevent such incidents, and one way you might increase your employee’s visibility.

1. Increased Staffing and Security Presence

Staffing up is one way to meet the challenge of retail crime.

At Best Buy, for instance, having more employees and security officers on the floor ensures a visible presence of personnel. Having more employees and security officers on the floor deters potential criminals and provides a sense of security to customers.

The increased staffing also provides better surveillance and monitoring of suspicious activities.

Additionally, mobile POS devices easily increase your employee’s presence in different areas of the store.
If your employee is free to walk around and complete sales anywhere in store, this may also be a deterrent to anyone who might try to pocket goods.

Retail Pro Prism is device agnostic enabling it to run smoothly on whatever mobile POS device you prefer to use. This means you can use an iPad, a Google phone, or HP tablet, with no extra effort or download.

Criminals are less likely to attempt theft or engage in suspicious activities when they know more employees are around who can observe and intervene if necessary.

2. Controlled Entrances and Exits

Best Buy and other retailers including Costco have implemented a strategy of having a single entrance and exit point.

By channeling customers through a single point, the flow of foot traffic becomes easier to monitor and control, reducing the likelihood of theft or unauthorized access.

Additionally, having staff members stationed at entrances and exits allows for quick and efficient checks, further deterring potential criminals.

3. Advanced Surveillance Systems

Installing comprehensive closed-circuit television (CCTV) systems is an effective strategy to combat retail crime.

The systems act as a deterrent and provide evidence in case of any criminal activity.

Additionally, advanced surveillance systems may include facial recognition technology, which can help identify known offenders or suspicious individuals.

4. Employee Training and Awareness

Companies are increasingly educating employees on retail crime prevention techniques.

That includes training on how to identify suspicious behavior, how to properly handle theft situations and when to escalate concerns to security personnel.

Empowering employees with knowledge and awareness creates a more vigilant and proactive workforce.

5. Collaboration with Law Enforcement

Companies are actively seeking partnerships with local law enforcement agencies to combat retail crime.

That includes sharing information about known offenders or criminal activities, coordinating efforts during investigations, and seeking advice on enhancing security measures.

As retail crime continues to rise, companies are looking to implement effective strategies to protect their assets and ensure the safety of their employees and customers.

By adopting a multi-layered approach, companies can effectively deter criminals and maintain a secure retail environment.

Pop-Up Stores Support an Omnichannel Vision

How AI Can Help Retailers Fight Shrink

This entry was posted by Jennifer Bosavage on Monday, October 16th, 2023 at 6:15 pm .

Generation Z includes retailers’ first set of digitally native consumers. Born after 1996, these customers have never known a world without the internet.

As a result, they have high expectations of interconnectedness between online and in-store shopping experiences. Smartphone in hand, they browse merchandise online and pickup in-store while communicating in real-time with friends on social networks, apps and text messages.

They were born to shop omnichannel style.

Different paths to purchase for different generations

Sometimes also referred to as “Centennials,” they, together with the previous generation of Millennials comprise more than half of the world’s population.

But the two groups approach shopping very differently.

Whereas Millennials eschewed purchasing “things” in favor of experiences, Centennials are happy to buy technology as well as health and wellness products.

More than any other generation, Gen Z shoppers tend to rely on mobile channels first, particularly YouTube and Instagram. Snapchat and TikTok figure into the mix as well.

Once the initial product research is completed, the brand itself comes under scrutiny.

Many in this age group have bought products because they have values that align with the retailer or brand. Others have boycotted a business to show disapproval of certain practices.

Gen Z is very attuned to the retail ecosystem and not only wants to be a part of it but also understands how to influence it. Irregardless, a syncing of data and inventory across channels is an important feature for brands that want to remove barriers to purchase for Gen Z consumers.

Retail Pro Prism gives retailers the ability to have a centralized view of their inventory across channels, in turn allowing them to give this to their customers.

Loyalty motivators for Gen Z

With a spending power of more than $140 billion, retailers are learning that though digitally native, Gen Z cares about connections and community.

They prefer to shop where they can chat with their friends online as well as with store associates in person, while feeling confident that their purchase decisions are supporting businesses that treat employees well and are not harmful to the environment.

Stores such as Nordstrom combine a traditional brick-and-mortar setting with the more personal experience of a pop-up store.

Mobile POS easily creates a personal feel as it allows sales associates to meet customers where they’re at, whether for item lookup or free-standing checkout, and lends itself perfectly to pop-up environments.

Retail Pro readily supports mobile POS since it’s a browser-based software, which means you can choose whether to use it on Apple, Windows, or Android devices.

AI-driven software helps retailers gather information and analyze data of Gen Z shoppers, which they can use to help create intimate experiences and personalized moments.

Those retailers who have established and communicated an authentic identity that mirrors Gen Z’s ethos will be rewarded with these shoppers’ loyalty.

Timely Delivery vs. Sustainability values

While all demographics want fast, reliable delivery, research finds that Gen Zers are the most impatient. Many want same-day delivery and yet are also very interested in carbon-neutral or emission-free deliveries.

While that appears to be a somewhat conflicted stance, these shoppers are also willing to pay more for more sustainable delivery and returns services: They understand the consequences (higher cost) for the services they want (faster, ecologically responsible delivery).

Retail Pro Prism gives you a clear view of across your channels, which increases your ability to identify points where you might be able to save time for your associates and customers’ orders.

Top retailers are investing in key technologies that provide the enhanced customer experience these young consumers are demanding.

Digital customers will check websites for in-store inventory even for stores that don’t have BOPIS or curbside pickup, which leads to a disconnect between channels that ultimately can lead to customers going to competitors.

As younger generations are digitally native, they’ll embrace technology, digitization and collaboration, and require the brands they buy to do the same.

For retailers, that will lead to more success and profitability.

Get 360 degree visibility with end-to-end retail software

Take Another Look at Sustainability

Using Retail Pro mobile POS to connect with customers on the sales floor

This entry was posted by Jennifer Bosavage on Wednesday, July 19th, 2023 at 3:31 pm .

The current uncertain economic climate is putting a damper on consumer confidence. A shaky job market economy coupled with inflation is affecting daily life everywhere from the gas pump to the grocery store.

As a result, many shoppers are focused on getting more value for their money by seeking lower pricing on everyday purchases.

Often, that means frequenting discount stores rather than higher-end retailers as well as shopping using less-traditional channels, such as retailer loyalty rewards and cashback offers. In combination with reports to help analyze potentially advantageous adjustments to price levels, Retail Pro Prism offers loyalty and rewards programs with it’s software out of box, which come in handy in these times.

Omnichannel Advantage

However, retailers that can strengthen the bond between online and in-store will find that success with one channel will positively influence the other.

Retailers and brands that provide a true omnichannel experience deliver consistent product information, customer service and account information using all their sales channels: online, in store and on the phone.

As a result, they build better customer relationships and inspire more brand advocates.

Shoppers’ purchase histories differ as widely as the ways they want to make purchases. Some prefer to shop online from start to finish.

However, according to Harvard Business Review customers who do use all channels in their journey tend to spend more – on average 10% more, so offering omnichannel services is important.

Retail Pro Prism is a full retail management and POS platform for omnichannel retailers, with integrated data and view of all channels.

Different Strategies Suit Different Customer Journeys

A solid self-service site should show customer-specific pricing, provide account information including order history and delivery status, give access to reference materials, and integrate in-store inventory information.

Others rely on customer service representatives to help place their order, or to provide more personal assistance with transactions.

Full-service requires expert salespeople or customer service reps who can answer questions, provide recommendations, develop personalized solutions and place orders for buyers.

A hybrid approach is aimed at those looking to make a purchase by themselves, but who want the opportunity to speak with someone in case a question arises.

Shoppers can communicate with a salesperson or representative by using online chat, e-mail messaging or “click-to-call.”

Combining round-the-clock customer service assistance with self-service ordering provides buyers the freedom they want with the support they need to make their purchases.

Hybrid Support

A solid hybrid methodology showcases an online approach that supports in-store shopping – which, in turn, encourages online purchasing.

By regularly evaluating your customers’ online search and purchasing history, a more personalized online experience can be created.

Streamline checkout, make special pricing easy to understand and find, and reduce friction both online and in-store.

Whether a retailer embraces online, in-store or a hybrid approach, web analytics defines the products customers have been researching and offers insights regarding buying patterns.

That information can inform loyalty program profiles and help provide a personalized omnichannel experience. Such personalization illustrates to customers that a company has taken the time to know them and their preferences.

Security

Another way to build trust and, as a result, loyalty, is to invest in secure, accurate technology that protects customer data.

Retailers collect a variety of information, with an enormous responsibility to keep it safe. Firewalls, private networks, encryption and multi-factor authentication can all be part of your security portfolio.

Be sure to communicate what security measures are in place with your customers, because the more customers see retailers working on securing their data, the more likely they are to trust you. Economic stutter steps are unavoidable. Retailers that are prepared with solid omnichannel solutions backed by secure technology will be well equipped to face the challenge of such slowdowns.

Retail Pro Prism is PCI compliant and has functions to prevent errors from being executed by employees that cost your business, such as limits on certain actions or transaction sizes, so that when mistakes happen they don’t have consequences.

Recessionary shoppers: convenience over experience?

Tempered supply chain issues and strategies

This entry was posted by Jennifer Bosavage on Monday, June 26th, 2023 at 11:30 am .

Pop-ups project a fun, trendy and intimate attitude to customers, and for retailers they can function as an integral part of an omnichannel strategy.

Pop-up stores represent a temporary opportunity for shoppers to take advantage of something new that a brand wants to promote. Businesses can also use pop-ups to test out new technology before making a larger change in their stores.

Pop-Ups creating Omnichannel Buzz

By their very nature, they generate buzz, and that can be parlayed into creating an excitement for a retailer’s other channels: online, mobile and in-store.

For example, a retailer might incorporate QR codes into a display that leads them to a scavenger hunt via the brand’s app.

The app might then continue the fun through gamification during the checkout process. Looping in a loyalty or rewards program adds to the positive and interactive customer experience.

Pop-Ups and Social Media Incentives

Pop-ups naturally complement social media. The excitement created by suggesting a “limited engagement” combined with an engaging atmosphere encourages interaction with customers.

The result is an experience that social influencers can’t resist. Social engagement generates enthusiasm for the pop-up store, and vice versa.

Exciting pop-up experiences attract hardcore social media users who can’t help but share how they spent their time interacting with the brand.   And that publicity doesn’t just impact these small satellite shops; once followers see what their favorite influencers are raving about, they’ll start visiting not only the pop-ups but also the brick-and-mortar sites, as well as related websites.

Brand Awareness Boost

Brand awareness and connecting with consumers are the two most popular reasons for launching a pop-up.

Customers have become burnt out from traditional “push” marketing tactics such as paid ads, and pop-ups offer a fresh take for brands to get attention.

They encourage customers to not only shop, but also to take part in marketing the brand.

Pop-ups can pair the physical storefront with digital marketing. They are the springboard for an omnichannel journey.

Having the right POS platform helps retailers that collect data from new customers they’ve attracted at a pop-up event and parlay them into future loyal customers; the POS data from the event is seamlessly and efficiently integrated with every channel.

That’s where a POS platform and customer management system for omnichannel retail – like Retail Pro Prism – comes in.

As a hybrid from both the physical and digital worlds, they tie all channels together – functioning as a place for completing transactions, fulfilling purchases, building community, and encouraging discovery as well as being their own unique destinations.

Look What’s Popping Up in Traditional Retail 

4 ways to use pop-ups’ popularity to boost your brick & mortar strategy

This entry was posted by Jennifer Bosavage on Friday, June 23rd, 2023 at 6:29 pm .

The goal for many retailers is to provide a shopping experience that meets – and possibly exceeds – customers’ needs, while generating an attractive profit.

Success depends on accurately understanding and responding to customer trends, which requires gathering and analyzing shopper data.

Traditionally, obtaining that information is done by tracking website engagement and point-of-sale data, which only offers retailers part of the story.

Ask for the data you wish to receive

Asking shoppers specific questions about their buying habits is one of the most effective ways to not only learn more about customers’ preferences but also to increase loyalty.

And shoppers – eager to have a more personalized retail experience – are increasingly willing to provide details about their purchasing habits.

By asking for relevant information and limiting the amount of personal information requested, customers are more likely to respond.

They understand their answers, referred to as “zero-party data,” are targeted at specifics, which can ultimately yield a better customer experience.

Such a focused approach offers retailers high-value data and is considered by customers to be thoughtful and minimally intrusive.

Evolution of attitude towards data collecting

Years ago, at the dawn of the info-gathering age, when the emphasis was too often on just collecting as much information as possible, customers were skeptical about providing information, fearing a constant barrage of marketing material.

Retailers were reluctant too, not wanting to use data insights too readily as they worried about appearing too “creepy” in their attempts to provide personalized experiences.

Today, those sentiments are reversing. Customers are willing to provide data, especially if they benefit.

For example, bargain hunters will sign up for promotional texts for discounts, while shoppers who are enthusiasts about a brand or particular market may subscribe to a newsletter or blog.

Using OptCulture for Retail Pro makes it easy to market to your customers through any and all channels are best for your business once they agree to share their information.

Savvy retailers offer an enticement, and customers offer select information in exchange for that valued item.

The retailer receives data that helps inform about appropriate future product selections, store locations, etc.

With OptCulture for Retail Pro, you can do this seamlessly by using a digital receipt to cross-sell or upsell.

Increasingly, customers are willing to provide details to brands when they can clearly understand the reason behind the request.

They will answer surveys or quizzes that help their favorite retailers create more tailored shopping environments, and they are eager to provide the names of brands they are enthusiastic about.

When a retailer is upfront about what information they want and how they’ll use it, it builds trust, and that builds loyalty: A recent Harvard Business Review study reported that companies with high loyalty grow revenue 2.5 times faster than their industry peers.

Analysis makes the most of zero-party

Collecting targeted data allows retailers to provide a more relevant shopping experience, and customers respond by offering their loyalty.

Long-term, that loyalty significantly affects revenue and profitability, as brands experience repeat purchases and no incremental acquisition costs.

After harvesting that information, retailers must be able to analyze it effectively.

Retailers use an average of five to six tools to collect feedback and data, but far fewer businesses invest in solutions to aggregate all that data.

Using business intelligence to analyze the information makes it significantly more useful in providing insights.

Business intelligence that is baked into software and happens automatically takes it to an even greater level of convenience. Retail Pro Decisions is one such POS business intelligence software that offers insights automatically, from every channel.

Ensuring every department uses the same CRM helps to create complete customer profiles, with data accessible among the entire business.

A unified view, augmented by customer-supplied data, supports content optimization and more relevant customer journeys.

Zero-party data, in unison with a focused CRM and targeted marketing strategy, improves the effectiveness of personalization efforts – benefitting brands, retailers and customers.

The Benefits of Consolidating Point of Sale Data

The Opportunities in Your Data

This entry was posted by Jennifer Bosavage on Monday, May 15th, 2023 at 9:46 pm .

Pop-ups are increasingly becoming popular among established retailers looking to inject some fun and excitement into their retail routines.

Often thought of as vehicles for direct-to-consumer and start-up brands, they are making inroads as a means of attracting new customers, as well as for trying out products and services.

Additionally, because pop-ups are temporary, they naturally project a sense of urgency, so products are differentiated from others found in brick and mortar outlets.

This urgency also necessitates the vendor’s ability to have their system run smoothly. Retail Pro Prism is able to run sales without internet, ensuring you won’t miss out on sales and technical difficulties won’t take away from the experience Here are some reasons established retailers are investing in pop-up strategies.

Building excitement for a special-issue product

Pop-ups give an established brand the opportunity to go “off-script” a bit, and provide a platform from which they can build buzz.

They can be tied to a celebrity endorsement, or to the launch of a product that had previously only been offered direct to consumers.

Further, pop-ups can be creatively presented and shared on social platforms to further increase engagement.

That appeals especially to Millennials and Gen Z, which comprise 2/3 of the population as well as the majority of active social media users, who frequently share “in-the-moment” experiences.

Retailers often provide rewards to encourage social sharing as well.

Gathering customer information via pop-ups

Many brands use pop-ups as data-gathering tools for iterating on ideas such as curbside pickup and contactless payment.

Mobile POS are also a helpful tool to have available for these smaller store settings where staff may be limited, so associates can seamlessly transition from interacting with customers to completing a transaction.

Retail Pro Prism is one software for all of your devices and is designed to be used on all operating systems for your convenience.

They can also test product ideas to see what is popular and trending, as well as easily get feedback from shoppers about selections.

Changes to how a brand traditionally operates can also be test-run — and adjusted — successfully.

Testing in this type of intimate setting helps build customer rapport.

In addition, pop-ups may attract new, non-traditional shoppers, who can now be added to future marketing campaigns.

Pop-ups respond to seasonal trends

Many retailers can provide specific products for a particular season, but may not want to transform their entire retail space for that purpose.

For instance, winter pop-ups at trendy ski resort towns cater to slope-side shoppers, while summer pop-ups in quaint seaside villages appeal to sun seekers.

Retailers are able to maintain their traditional brick and mortar branding while providing an exclusive flair outside that domain.

Pop-ups can strengthen the customer relationship.

Pop-ups are smaller, more intimate affairs. They often generate publicity simply because of their temporary nature, and especially when they are a limited engagement.

It’s often more practical to try new trends in a pop-up rather than in an expensive retail space.

Some clothing pop-ups roll out inventory on racks daily to see what sells, and that informs their traditional stores of merchandise trends.

Success relies on the retailer really understanding the customer segment they are targeting and being dedicated to developing that relationship.

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This entry was posted by Jennifer Bosavage on Monday, May 15th, 2023 at 9:11 pm .