Every company has recurring activities that are particularly time consuming. From the annual budget process, to tax day, to launching a new seasonal line, these activities require “all hands on deck”.
Data is a goldmine for retailers because it can help offset the downward pressure created on margins as a resultant of having more informed and price-conscious consumers. According to a 2011 study performed by McKinsey Global Institute, utilizing big data has the potential to increase the operating margins of retailers by up to 60 percent. The adoption of big data is expected to increase product[...]
In order to sustain profitability, today's retailers need to be able to keep up with the flurry of tech innovations trending within the industry at any given time. Disruptive technology like Facebook and smartphones have literally changed the way people do business around the world. However, there are plenty of innovative tools released by leading tech firms that never gain traction in the retail [...]
Retailers can benefit greatly by learning more about how to personalize customers' in-store experience. Approximately 90 percent of the interactions between retailers and shoppers occur in-store, but behind call centers, shopping in-store is rated as the worst experience by consumers. With the high volume of email campaigns and marketing ads inundating consumers today, it’s all the more crucial f[...]
According to a recent industry-focused report, the retail sector is poised to undergo more changes in the next five years than its experienced in the past five decades. Most of this change is driven by the Millennial generation's $600 billion in purchasing power and their increasing influence in the retail industry. Today's retailers sustain profitability by understanding more about some of the f[...]
Last year I was presenting SimpliField to retail leaders at our first NRF Big Retail Show. Seems like our solution has found its way as we begin 2017 with a great new partnership with Salesforce!
Government research has shown that when negotiations without a guaranteed resolution are required, establishing a shared sense or urgency can substantially improve the process, completion rate and overall satisfaction for each party. Retail and merchandising typically involve undergoing routine negotiations with a number of suppliers throughout the sales cycle. Negotiating pricing and promotion te[...]
In 2016, the Nielson Global Retail Loyalty Sentiment Report found that when all else is equal, over 70 percent of shoppers worldwide are more likely to buy from a retailer offering a loyalty am than who is not. More than 65 percent of the shoppers out there are joining loyalty programs for the free products and discounts that are offered. Five retailers who receive high praise for their retailer l[...]
According to a recent industry report, over 25 percent of U.S. retailers planned on using data analytics by the beginning of 2017 to help with improving their buying decisions. Within this quickly evolving and increasingly competitive sector, retailer's ability to convert in-store traffic into actual consumers is becoming more important with each day. Understanding the relevant metrics, recent te[...]
The list post is one of the most popular and readable blog formats on the web. It is composed of -- you guessed it - a list, and includes short explanatory paragraphs about each item. As of 2014, more than 3.5 million people in the U.S alone identify as teleworkers and work remotely from their office. Keeping the field team connected becomes more important as your workforce matures and more employ[...]