Retailers that embrace technology to improve the customer experience and improve the training and development of their staff will be the ones who prevail.
In 2017-2018, global retail shrink was $99.56 billion. Covering 14 countries representing 73% of global GDP and 80% of global retail sales, this research is the authoritative document on worldwide loss prevention trends. This post focuses on my two favorite charts from the entire study.
Thirty years into this business. Consider how we might all put on the ‘blinders’ after spending so long doing something. It’s not unusual to think you have the right answer to almost everything. Success breeds confidence. You just have to make sure that confidence doesn’t get in the way.
Instead of focusing on what we wanted the staff to do and achieve, we focused on ‘Why’. Why the add-on was of such value. How introducing this item was truly going to benefit the customer. In fact, by ‘selling’ the item to the customer, they were actually truly helping the customer in a big way.
Retailers can never afford to be complacent. However, Amazon is not the only model of success. The rest of retail would do well to study the critical success factors of those who are thriving today in spite of Amazon's growth.
A Vantiv/Worldpay partner recently asked me about the fundamentals of a quality customer/prospect marketing email, so I jotted down a few best practices and asked my LinkedIn connections to weigh in. The result of that effort is this list of 8 Great Email Marketing Building Blocks.
Future of Retail with the Top 5 Apparel, Luxury, and Technology Brands. The brand value of the retail sector rose 34% as e-commerce brands spiked in value and the category adjusted to disruption. See the Five Actions for Building & Sustaining Valuable Brands.
Some will argue that there is no need to even leave the couch in order to acquire anything and everything our little hearts desire. There is quite a bit of truth to that and many feel that you can’t beat the convenience of it as well. But consider this question; how inconvenient is convenience?
Who are the leaders in your company? The owner(s)? The CEO? The VP’s? We often think of leadership in terms of the most senior positions in an organization (especially if we occupy one of them!). But what if we told you the most important leaders in your company don’t hold an executive title?