retail

Physical Retail Is Not Dead Yet!

Amazon almost killed Best Buy. Then Best Buy learned to Be a little more Like Amazon and it is doing great. You too can Be Like Amazon while not being like Amazon. Any business, retail or services, online or brick and mortar can learn from these principles. Build relationships, help people buy instead of focusing on selling them, understand your employees & customers’ motivation. Find ways to remove the friction in the experience through innovating your current processes.

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Does it Payless to pay less?

Do you want to get paid less for any value you bring to your customer? Obviously not! Do you prefer to pay more for products than they are actually worth? Today Payless announce they are closing all their stores. I want us to step back too late November/December of last year (yes only a couple of months back) and take a look at what we can learn from the PayLess disaster to understand how we need to adapt to stay…

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Finding the people and taking the people out of retail

NRF 2017 kicked off with a keynote titled “Building Tomorrow’s Workforce: How Retailers Are Attracting and Retaining Talent.” The CEOs of Macy’s, HSNi, Walmart, and Ashley Stewart talked about the value of great people in retail. No one would argue that retail is a people business. I have always found one the best parts of the NRF shows are the people I have met. However, I think we need to start framing this discussion differently, and if the trade-show floor…

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When Retailers Wreck Relationships Because Of Pricing Errors

CyberMonday is becoming one of the most critical days for retailers today. According to IBM, Cyber Monday retailers saw online sales increase by 16.7 percent over last year. Retailers are using email and social offers to get the attention of their customers. In fact, according to IBM’s research: On Cyber Monday alone, IBM clients sent nearly 500M email notifications to consumers around the world – a one-day record high. Mobile push outreach continued its rapid growth and was up 47…

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Even Your Shopping Cart isn’t Sacred

Birth of the Shopping Cart The first rolling shopping cart was created by a Piggly Wiggly owner in Oklahoma City. Once a regular basket got too heavy, customers headed straight for the check-out line.  This robbed stores of incremental sales. So in 1936, that store owner introduced a rolling cart to make shopping easier. In CRO terms, he reduced the friction of shopping to increase average order size. The design went mainstream in the 50s. It has remained a retail “best practice”…

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Omni-channel pricing with the connected customer

Sixteen painful minutes standing there while those behind us whispered obscenities under their breath. It wasn’t our fault. Standing on line waiting to complete a simple transaction should never be so painful. Let me tell you a story about how dynamic pricing issues and lack of cross-channel awareness created a negative message for a leading retail brand. My daughter was desperate, in the way only a fourteen year old can be, to purchase the Logo board game for her best…

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