2017 in review: Walmart, Buffet, Target led top read news
If there is one thing that was not lacking in 2017, it was news about all things retail customer experience. From emerging technologies to changing strategies to what big brands are doing in and out of the store, Retail Customer Experience kept readers informed with daily news.
Here's a glimpse at the top five news briefs that caught readers' attention (in no particular oder). Big brand players (Walmart and Target) dominated the news cycle, but Starbucks leadership got some attention, as did Warren Buffet's view of the retail segment.
Starbucks chief: Big changes happening
In his first financial earnings discussion, Starbucks CEO Kevin Johnson declared there is a "seismic shift in consumer behavior" in the brick-and-mortar sales environment, and it's having a "devastating impact," according to a Fortune report. "The retail industry is going through a disruption right before our eyes," Johnson said.
Dick's Sporting Goods CEO: A perfect storm ahead
2017 brought big changes in the retail segment, even for those whose competition took a dive. Dick's Sporting Goods chief Edward Stack described it as a "perfect storm" and that retailers were panicking due to the "difficult environment." His brand likely wasn't panicking as much, given its top competitor, Sports Authority, has closed its doors.
Warren Buffet: Retail is achanging
Way, way back in the day, there was a commercial illustrating that when financial advisor E.F. Hutton spoke, everyone listened. The same is true for financial expert, guru and investor Warren Buffet. His company, Berkshire Hathaway, sold off nearly all its Walmart stock this year and Buffett views the brick-and-mortar pretty much dead.
Walmart wants to get close and personal with customers
The top brick-and-mortar retailer made lots of news in 2017, but one of the most interesting was a Business Insider report that Walmart is investigating using facial recognition to identify unhappy customers on check-out lines. The idea is that the system would alert store associates about a disgruntled shopper and take action to make that consumer a happy camper.
Target revamps its perks program
Building and driving and keeping customer loyalty is a daily quest for any retailer, and obviously a focal point for Target, which made a huge change to its Cartwheel Perks program by shuttering the loyalty program and piloting a new approach. And from what the retailer told CNBC, it's just the beginning of new changes coming to its programs and apps.
Topics: Assisted Selling, Augmented Reality, Consumer Behavior, CRM, Customer Experience, Customer Service, Omnichannel / Multichannel, Online Retailing, Shopper Marketing, Technology, Trends / Statistics
Judy Mottl is an experienced editor, reporter and blogger who has worked for top media including AOL, InformationWeek and InternetNews. She’s written everything from breaking news to in-depth trends. She loves a great pitch so email here, follow on Twitter and connect on LinkedIn.www