Revolutions often happen over short periods of time and leave death and carnage in their wake. What we are experiencing today in retail is more of an evolution — a sort of “survival of the fittest” as both local and big brand retailers either embrace shifting consumer shopping patterns or face extinction.
More than half of marketers expect cross-channel measurement and attribution to occupy most of their time, attention, and resources in the coming year. Many of these marketers will be exploring new technologies that close the loop on attribution and unlock the hidden connections between web viewing sessions and in-store purchases around the globe.
Consumer goods and retail companies are using omnichannel personalization to engage consumers, and offer them the convenience to browse and buy products however and wherever they choose. With data analytics, retailers can engage in automated omnichannel personalization to deliver marketing that aligns with a customer’s specific behaviors.
Marketers that fail to see local storefronts as a critical channel are missing out on a rich sales opportunity. Brands invest $70 billion in local markets each year, but a significant portion of that spend often goes to waste because they fail to work collaboratively with their local partners.
The mostly unreported story of Black Friday weekend is that much of the ecommerce growth came from “bricks-and-clicks” retailers, not pure-play e-tailers. The reason: Physical stores offer a critical customer experience and serve as a “brand anchor,” both of which support ecommerce for traditional retailers. Stores drive online sales because they instill a sense of confidence and trust in the consumer.
The holiday season isn’t just a big time of year for retail spending; it’s also a big time of year for retail spending data. The stats indicate one common trend: Purchasing is going to be more omnichannel than ever. Here’s a rundown on some key data points for this holiday shopping season.
Today marks the beginning of a crucial week and month for retailers, as shoppers clamor for deals and steals on presents for family, friends, and coworkers. Whether in-store, online, or a mobile device, an astounding amount of retail business will be transacted in the next five weeks. RetailMeNot vice president of communications Brian Hoyt said to expect a more personalized, more omnichannel holiday shopping season this year, courtesy of the ever-present smartphone.
Around the holidays, consumers tend to spend a lot more time on multiple devices, altering standard shopping habits and behaviors. This means brands and businesses need to ensure they are accurately and competitively represented in search, social, and mobile channels, and that social engagement and advertising efforts are properly targeted to the right consumers at the right times.
In today’s digitally-focused advertising climate, overlooking TV’s influence is easy. It still accounts for the largest share of U.S. media spending, but with marketers increasingly focused on generating hard metrics-based ROI for every aspect of their campaigns, the challenge has been tying TV’s impact to real-world business results. With the launch today of a TV measurement solution in partnership with TiVo, NinthDecimal is banking on TV becoming a bigger piece of the ROI puzzle.
A roundup of today’s big stories in hyperlocal publishing, marketing, commerce, and technology… Uber-Style Surge Pricing May Catch on with Retailers (Forbes)… Why Walgreens Is Partnering with Postmates and Betting Big on Mobile (LinkedIn Pulse)… Kroger Tests ‘Smart Shelf’ Technology (Indianapolis Star)…