Take Another Look at Sustainability
Sustainability means serious business to a new generation of customers. It goes beyond using recycled shopping materials to proximity, delivery-related things. Continue reading
Archives
2 Retail Uses of Artificial Intelligence in a Post-COVID World
The amount of information collected from an in-store POS is vast. Coupled with e-commerce data gathered from online transactions, retailers can glean a pretty accurate picture of who their customers really are: their tastes, sizes, socio-economic status and demographics. Artificial … Continue reading
Measuring ROI of relationship building with loyalty programs
Customer retention is a huge challenge for retailers, and all recognize the advantages of cultivating a base of customers: A 5% increase in customer loyalty can increase the average profit per customer by 25% to 100%, according to fitsmallbusiness.com. Creating … Continue reading
Millennials: the force driving thrifting’s upsurge
What’s old is new again. Need proof? One look at the resale market—particularly in clothing — makes it abundantly clear that a change in market dynamics is happening. A few months ago, GlobalData and online clothing retailer ThredUP … Continue reading
Knowing your customers and winning their loyalty: correlation or causation?
Customer retention is a huge challenge for retailers. The cost of acquiring new customers is far greater —some studies suggest as much as seven times more — than keeping existing ones. Creating a customer experience that is satisfying … Continue reading
Millennial Shoppers Love Retail Personalization
In a day and age in which “automation” and “self-service” are terms often applied to retail sales, it’s eye opening to learn that millennials seem to prefer an in-person, brick and mortar experience, particularly because this is the first generation … Continue reading
Making the Most of Your Social Media Presence
Referrals are the lifeblood of retail. Having a satisfied customer base that will sing your praises is worth more than an ad campaign by the most sought-after advertising firm on Madison Avenue. People are more than five times as … Continue reading
Millennials and the Importance of Authenticity
Millennials are coming on strong. Retailers expect Millennials – who were born between 1976 and 1994 — to spend more than $200 billion annually starting in 2017. Further, they are projected to spend more than $10 trillion during their lifetimes, … Continue reading
Getting Millennials Into the Holiday Retail Spirit
Not so long ago, conventional wisdom was that Millennials, those born roughly in the 1980 to 2000 timeframe, were on track to be self-centered, materialistic, unprepared adults. And then came the Great Recession. Faced with the realities of the time … Continue reading
What millennials really want from retailers
As millennials come of age, they’re an increasingly important demographic for the retail industry. Continue reading
