If a sacred cow exists among retail strategists today, the price-match is undoubtedly it. As the weapon of first resort, it is the most obvious defense against the rapid rise of “showrooming” and the unbridled growth of online retailing behemoths like Amazon, ruthlessly cutting into retailers’ profits.
While it is true that customer loyalty programs have revolutionized the way retailers engage with consumers, initially, loyalty programs were designed only as a data capture mechanism to drive a company’s marketing efforts.
Omni-channel strategies are helping chain stores compete with pure-play e-commerce retailers, but it is also driving major changes in their e-commerce logistics models. In an omnichannel strategy, which seamlessly integrates sales channels such as the store, web and/or mobile, consumers can choose the most convenient way to order, receive and return their purchases.
Appraisal firms are often asked by lenders if condensing a retail chain’s store base early on, or even prior to, the beginning of a liquidation sale will enhance the overall net recovery value (NOLV) of the inventory.
Many retailers today are looking to bolster profits by offering merchandise outside of traditional locations. Well-known brands such as Gap, J. Crew and Disney all have been on the outlet side of retail for several years
Statistics tell the story: the U.S. population is getting older at a dramatic rate. The Department of Health & Human Service’s Administration on Aging estimates that nearly 55 million people – nearly one-in-six – will be age 65 or older by 2020, compared with 40 million in 2010.
I certainly don’t have to tell you that the 2013 holiday retail season is upon us, since you’ve probably had to plan your technology all year to handle the imminent spikes in in-store and online traffic. And, in just a couple of weeks, you’ll start planning your technology budget for 2014’s holiday season.