brick and mortar

Millennials Still Spend the Vast Majority of Their Retail Dollars In-Store

source: http://www.marketingcharts.com/wp/topics/e-commerce/millennials-still-spend-the-vast-majority-of-their-retail-dollars-in-store-36364/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

NPDGroup-Millennials-Retail-Spending-Behavior-Sept201381% of Millennials’ retail spending occurs in brick-and-mortar stores, reveals The NPD Group in a new study covering shopping activity from May 2012 to April 2013. In fact, slightly more than half of Millennials (13-33) shop in-store during a typical week, and the group accounts for more than one-third of all US shopping visits. Interestingly, though, Millennials are less likely to make a purchase while they’re in-store than older generations, and they spend more per visit online than in a brick-and-mortar store.

Millennials have a 57% in-store conversion rate (percentage of shoppers who make a purchase), according to the study, significantly behind the corresponding rates for Gen Xers (34-48; 66%), Boomers (49-67; 69%) and Seniors (68+; 72%). That could be related to an increased propensity for showrooming among the younger group, even if recent research has shown webrooming to be more prevalent than showrooming among Millennials.

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Tuesday, September 3rd, 2013 news No Comments

How Retail Stores Track You Using Your Smartphone (and How to Stop It)

Source: http://lifehacker.com/how-retail-stores-track-you-using-your-smartphone-and-827512308

How Retail Stores Track You Using Your Smartphone (and How to Stop It)

When you walk into a brick and mortar retail store like a Nordstrom, Cabela, or even Family Dollar, you’re being tracked around the store. Not by an over-suspicious security guard, but by the store’s wireless network, using your phone’s Wi-Fi. The store then uses your phone to track you around the store, determine if you’re a repeat visitor, see what departments you visit, and more. Here’s how they do it, and how to stop them.

Read more…

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Friday, July 19th, 2013 news No Comments

The Major Retailers Most Threatened By Mobile Showrooming

Source: http://www.businessinsider.com/chart-major-retailers-threatened-by-mobile-2013-6

The practice of “showrooming,” or viewing an item in a retail store and then buying it online, has brought the e-commerce threat directly to bricks-and-mortar retailers.

Mobile raises the showrooming threat to a new level since price comparisons are available to shoppers immediately, as they make decisions and browse e-commerce websites in stores.

In a recent report from BI Intelligence, we analyze mobile showrooming’s influence on retail, and examine the various different types of consumer behavior that make up showrooming.

We also look at what the big retailers are doing to combat showrooming, and identify the five broad strategies that will help brick-and-mortar retailers win business from showroomers.

Access The Full Report By Signing Up For A Free Trial Today >>

Take a look at this chart from our report:

bii_showrooming_risk<br! >

Estimates of how much retail volume is influenced by smartphones vary wildly, but here are some numbers that gauge mobile showrooming’s influence:

In one dramatic effort to combat showrooming, U.S. electronics retailer Best Buy announced last month that starting March 3, 2013, its stores would match the prices of 19 major online competitors, including Apple, Amazon, and Buy.com. Target also has a price-matching policy in effect.

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Monday, June 24th, 2013 digital No Comments

Majority of Showroomers Say Permanent Price Matching Encourages In-Store Purchase

Source: http://www.marketingcharts.com/wp/topics/e-commerce/majority-of-showroomers-say-permanent-price-matching-encourages-in-store-purchase-30156/

40% of American adults claim to have checked out a product in a brick-and-mortar store before purchasing it elsewhere online (“showroomed”), according to a recent survey from Harris Interactive, although recent data from xAd and Telemetrics suggests that smartphones aren’t being used that often for showrooming. Nevertheless, retailers concerned with showrooming who have adopted a […]

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Tuesday, June 11th, 2013 news No Comments

Mortar

Source: http://www.businessinsider.com/warby-parker-brick-and-mortar-sales-2013-5

Warby Parker Soho Showroom

When Warby Parker opened a flagship store in New York City, many people were shocked. No one expected the digital eyewear disruptor to expand their business to a bricks-and-mortar store.

Speaking at Internet Week this week, Neil Blumenthal, one of Warby Parker’s founders, said the move was strategic.

“We believe the future of retail is at the intersection of e-commerce and bricks-and-mortar,” he said. “People think it’s crazy that we went and signed a 10-year lease in SoHo, next to Ralph Lauren, across the street from the Apple Store. But we have actually been dabbling in bricks-and-mortar for about three years, almost as long as we have had the website open.”

When it launched, the start-up offered customers the option to try a number of glasses at home, he explained.

“That in itself was a physical form of sales, but what happened was that within 48 hours of launch, we were overwhelmed by demand and had to suspend the home trial program. And people would call up and say, ‘Hey, can we come to your office and try on glasses?’ And we would say, ‘Uh, we are working out of my apartment.’

“People would come in, and we would lay out the glasses on the dining room table. And we thought it was going to be a sub-optimal experience, but it ended up being a very special experience in that we could build relationships with our customers. They could try on all the glasses. We started to realize maybe there was a place for traditional bricks-and-mortar retail.”

The idea for the Warby Parker showroom and pop-ups was born. When those raked in profits, the company decided to open a flagship to anchor the brand. Now, 50 percent of their foot traffic and sales are driven by word-of-mouth, which Blumenthal says was exactly the point. “Our philosophy from the get-go has always been: How can we grow this primarily through word-of-mouth?

“It’s about how can we create special moments. When you walk into the store, most people are really surpr! ised, be cause it doesn’t look like any place they have ever been that sells eye glasses.”

 

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Wednesday, May 22nd, 2013 digital No Comments

These Major Retailers Are Most Threatened By Mobile

Source: http://www.businessinsider.com/chart-major-retailers-threatened-by-mobile-2013-4

The practice of “showrooming,” or viewing an item in a retail store and then buying it online, has brought the e-commerce threat directly to bricks-and-mortar retailers.

Mobile raises the showrooming threat to a new level since price comparisons are available to shoppers immediately, as they make decisions and browse e-commerce websites in stores.

In a recent report from BI Intelligence, we analyze mobile showrooming’s influence on retail, and examine the various different types of consumer behavior that make up showrooming.

We also look at what the big retailers are doing to combat showrooming, and identify the five broad strategies that will help brick-and-mortar retailers win business from showroomers.

Access The Full Report By Signing Up For A Free Trial Today >>

Take a look at this chart from our report:

bii_showroom! ing_risk

Estimates of how much retail volume is influenced by smartphones vary wildly, but here are some numbers that gauge mobile showrooming’s influence:

In one dramatic effort to combat showrooming, U.S. electronics retailer Best Buy announced last month that starting March 3, 2013, its stores would match the prices of 19 major onli! ne compe titors, including Apple, Amazon, and Buy.com. Target also has a price-matching policy in effect.

To access BI Intelligence’s full reports on Mobile and Retail, sign up for a free trial subscription here.

 

 

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Join the conversation about this story »

    

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Tuesday, April 30th, 2013 digital No Comments

Mobile Traffic To E-commerce Sites Doubled In The Past Year

Source: https://intelligence.businessinsider.com/welcome

Smartphones and tablets continue to drive an increasing share of e-commerce traffic.  

According to Monetate, mobile accounted for 18 percent of e-commerce traffic in the third quarter, up from 8 percent a year prior.

Smartphones drove a larger share of traffic than tablets, which reflects their increased penetration and perhaps the popularity of “showrooming,” when consumers use their smartphone in-store to compare prices.

Retailers, both online and brick-and-mortar, have to heed consumers’ changing shopping habits. According to IBM, mobile accounted for 16 percent of Black Friday online sales this year, up from 9.8 percent a year ago.

(For more information on mobile commerce, and how brands can win, read our special report.)  

Ecommerce Traffic By Device

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Tuesday, November 27th, 2012 news No Comments

Here’s How Consumers Are Shopping With Their Phones

Source: http://www.businessinsider.com/bii-report-heres-how-consumers-are-shopping-with-their-phones-2012-9

shopping mobile

Mobile devices are playing an increasingly large role in commerce.

In a special report out from BI Intelligence, we analyze patterns around all types of mobile behavior, including how people use their phones to shop.

Access The Full Report By Signing Up For A Free Trial Today>>

So, how are consumers using their phones in the shopping process? 

The report is full of charts and da! ta that can be easily accessed, downloaded, and put to use.

In full, the report also looks at:

To access BI Intelligence’s full report on Mobile Usage, sign up for a free trial subscription here.

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Tuesday, September 11th, 2012 news No Comments

An Enormous Chinese Price War Backfired For Everybody Involved

Source: http://www.businessinsider.com/an-enormous-chinese-price-war-backfired-for-everybody-involved-2012-9

china, retail, store, looking, wonder, think, thought, curiuous, explanation

Some of China’s largest retailers are facing an official investigation for deceptive sales practices after a recent price war spiraled out of control.  

At the Wall Street Journal, Laurie Burkitt reports that one company’s promotion drove a race to the bottom. From the piece:     

Beijing Jingdong sparked the latest price war last month after Chief Executive Liu Qiangdong said on his microblogging site that he would dispatch 5,000 agents to check prices at rival outlets and would undercut their prices at least 10%. Suning and Gome responded by agreeing to offer consumers lower prices on the companies’ e-commerce sites.

It worked at first; Beijing Jingdong’s 360buy.com sold upwards of 250 million yuan worth of goods in three hours.

But then the competing offers spread to Chinese social media and snowballed to the point where companies were apparently unable to offer stated discounts and ran out of items, sparking widespread anger. 

China has many consumers, but not much in the way of consumer protection. Pressure on these retailers from slumping demand and rising inflation mean they occasionally resort to dubious pricing practices.

It’s a sign what’s at times still an awkward hybrid economy, even as China moves towards surpassing the United States as the world’s largest economy. 

Rapidly changing prices are becoming an inevitable part of online retail. Combining that with brick and mortar outlets and the sheer size of China’s burgeoning consumer class created a complete disaster.

See also: Here’s What Led To Explosive Growth For Chinese And Indian Entrepreneurs

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Thursday, September 6th, 2012 news No Comments

American web company says web boosted American economy by $500 billion

Source: http://www.engadget.com/2012/07/02/google-shocker-american-web-company-says-web-boosted-american-economy/

Google bronze sign

Who knew that a company which makes a lot of money on the web would be keen to pitch the web as important to the US economy? Google thinks it’s as natural as breathing, as it just took significant credit for fueling real-world shopping. About 97 percent of Americans reportedly searched online for a local business — it’s safe to say Google was involved in a lot of those hunts — and spent an average of nearly $2,000 per person at brick-and-mortar stores last year. The search giant extrapolates to argue that the web pumped about $500 billion into the US economy, even while excluding internet-only sales. That’s certainly a staggering number that shows how much of a cornerstone the internet has become for American business, although it comes across as slightly insecure: a company that’s reportedly under tight scrutiny from regulators might be eager to show just how much good it’s doing for the public in tough economic times.

Google shocker: American web company says web boosted American economy by $500 billion originally appeared on Engadget on Mon, 02 Jul 2012 16:27:00 EDT. Please see our terms for use of feeds.

Permalink&n! bsp; &nb sp;|  sourceGoogle Official Blog  | Email this | Comments

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Monday, July 2nd, 2012 news No Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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