Online retail seems to face a litany of problems. A very prominent one among them is the return of goods. To put it simply, returns… Read More »Online Retail Faces Big Problems with Returns
Sales & Conversion
The twenty-first century has had a significant impact on the way people shop, especially when it comes to clothing and accessories. This leaves retailers asking… Read More »Millennial Women Tell Retailers How to Improve the Shopping Experience
The retail landscape today looks quite different than it did a decade ago. How customers are making purchasing decisions and buying items has changed significantly.… Read More »How Retailers Are Answering the Age of Consumer-Driven Retail
Even in an age where technology rules, people prefer shopping in store. Long live Brick-And-Mortar.
Each year, The Retail Equation releases a survey covering “Consumer Returns in the Retail Industry.” In 2015, perhaps the most notable stat was “Returns as percentage of total sales,” which came in at 8% according to the National Retail Federation (NRF).
That is of particular significance when you consider this: the total industry sales as tracked by NRF equated to $3.256 trillion. Which means that 8% of that sizable figure is $260.5 billion. Now, imagine if the industry could get even just some of that money back.
That’s an industry average; what are your annual sales figures and revenues? Are you hitting your targets and goals for growth and earnings? What would it do for your company if you were to add back even half of that 8%?
How intimately familiar are you with your customer’s journey? Do you know what brings your customer into your store? Do you know what happens while she’s in your store to make or break her decision to buy from you? What about after she leaves – what can you do to help ensure she doesn’t return her purchase?
An analysis of your customer’s journey can leave you with valuable insights into areas of weakness/opportunity.
A new survey released by Mindtree challenges the idea that most shoppers do not like to be disturbed by sales associates, and highlights the power of human touch… Read More »Just How Important is Human Touch in the Shopping Journey
Increasing store revenues is a challenge you can approach from any number of perspectives.
How can you adjust operations to increase revenue? One answer is a targeted customer service process that supports the customer purchase journey.
But how can you prove that such a process has an impact on revenue? What metrics will actually show a link from the changes to increased revenues?
Data-enabled fitting room systems offer a solution. These systems leverage technology to make your store more adept at serving customers and meeting their needs. Fitting room systems can provide improved customer service as well as increased revenue.
A new survey released by Mindtree challenges the idea that most shoppers do not like to be disturbed by sales associates, and reveals the highly positive influence sales associates… Read More »Just How Important is Human Touch in the Shopping Journey
When it comes to retail success, the sales floor has always played a pivotal role. This hasn’t changed, but the sales floor itself has transformed dramatically since the rise of the digital age. Using new technologies, retailers can now use software to track data, and real-time analytics to maximize sales. Here are 5 brilliant ways cloud-based systems create a more efficient sales floor.