During his flamboyant declarations about malls and their impending doom, Jim Cramer asks another financial analyst if he's been at a mall lately. The analyst says no, adding that he doesn't go to malls. I'm thinking the same might be true for Jim Cramer.
In-store shopping has fallen on hard times. Many retail categories — such as electronics and music — have largely disappeared, victims to the convenience and easy price comparisons that online shopping provide. Brick and mortar simply can't keep up.
While gift cards are popular they are also a very hot area of scrutiny with the IRS. And if retailers aren't calculating the gift card income adjustment, using correct methods and procedures, they could find themselves in trouble with an audit.
For today's consumers, omnichannel is their "new normal." They now shop and purchase anytime and everywhere. What this means for traditional retailers is that they must become more flexible and "seamless."
The impulse to socialize at the market lives on — witness the late 20th century phenomenon of "hanging out at the mall," or the 21st century rise of farmers markets and pop-up shops in the most densely urbanized settings.
The buzz about bots is on the rise. No, not the all-knowing Isaac Asimov supercomputers. The 1-800-number variety that never seems to detect any urgency in the phrase "I'd like to speak to a person."
Beacon technology has not been adopted by merchants as quickly as expected, yet changes to devices and strategy will spur 4.5 million active beacons in the U.S. by 2018.
While the New York Times describes Amazon's Treasure Truck as another of Amazon's "puzzling retail experiments," it can be viewed as Amazon's continuing effort to refresh retail by trying innovative approaches.
Networld Media Group will launch FoodTruckOperator.com on April 1. It will cover industry trends and news, profile business owners and explore the technologies and tools available to help operators grow their businesses.
In simple terms, social media and the internet have given consumers the loudest and biggest mouthpiece to project their views and feelings and actions. But it shouldn't be used to unjustly hurt a retailer or a brand.
There is no doubt, that in the current age, information is critical. When everything online is connected to a cloud and data is accessible in real time, business managers must make decisions based on information that is accurate and as up-to-date as possible.
The Amazon Go store has no cash register or payment kiosk. Instead, shoppers scan themselves into the store using the free Amazon Go app, shop as normal, remove items from a store shelf, place items in a shopping bag, and leave the store.
Will men and artificial intelligence define retail in 2017? Possibly. Considering the activities in retail today, several experts shared what unexpected trends they believe will merge in 2017.
Retailers have a number of digital sales channels and a plethora of mobile marketing technologies to choose from. That said, when building a mobile marketing strategy, start with the basics: your customer, your brand and your business model.
Shopper behavior and expectations have clearly changed and become more sophisticated. Retail stores need to evolve to meet consumer demands, and the influence of technology will only increase as retailers and brands seek to connect with shoppers.
Typically the responsibility for customer service is split amongst various in-house teams and there is no overarching coordinated system to manage it. A coordinated approach is very much needed for the strategic management of customers and their experience.
Customer loyalty requires more than offering a customer a free coffee every time they buy 10. There’s no middle ground any longer as user experience is key for retailers wanting to win the battle.
There's no business like show business, and retailers are vying to get in on the act. More merchants are turning to Broadway in their ongoing play for experiential marketing. But what can retailers do for an encore?
Chris H. Petersen explains why assorting the hottest products is not enough to win today's consumers.
The ball has dropped, the confetti has fallen, and the new year has officially been ushered in. With 2017 on the horizon, it’s time to look to the future.