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A retail buzz phrase we heard and read often in 2022 was, “The future of retail is here”. Leading retailers today are investing in innovative strategies to ensure they not only stay ahead of the competition, but continue to meet their customer’s ever-changing needs. With tier-1 businesses paving the future, retailers feel the pressure of
Sustainability, a topic that has long been discussed, is becoming one of the most important strategic priorities for retailers. Consumers over the years have become more and more conscious of their environmental footprint, and are now expecting retailers to adopt the same mindset. This growing responsibility has forced retailers to rethink how they produce and
Choosing the Right Solution for your Retail Business When exploring options for a promotion management solution, it can feel overwhelming to find the perfect fit for your business needs. You may find yourself sifting through different software companies that all offer various capabilities and features and describe their solution differently. Throughout this blog, discover the
The Golden Quarter is Here: How Retailers can Succeed this Holiday Season Why Analyzing Customer Trends is Key for Boosting Profits And just like that, we have approached the busiest season for retailers. The period between October and December (also known as the Golden Quarter) is filled with different events and campaigns relating to Thanksgiving,
Targeted Promotions — Transforming The Shopping Experience Targeted promotions have proven to be a game-changer for the shopping experience, impacting both customers and retailers alike. When targeted promotions are executed successfully, retailers can expect to influence shopping behavior, increase sales, and create more lifetime loyal customers. According to Forbes, “About 91% of consumers
How to effectively optimize promotions Promotions are a persuasive strategy to drive sales and the overall bottom line. Despite how powerful promotions can be for a business’s success, most retailers struggle with promotion management from inception to execution. Historically, retailers found it challenging to promote the right items, at the right time, using the right
Redefining the Retail Merchant Role when Planning Promotions A key player in the success of a promotion is the merchant. Without understanding the product, customer needs, and business objectives, the likelihood of a promotion positively impacting your retail business is slim. As data continues to evolve, stores continue to grow in size, and customers
Promotions play a pivotal role in the success of a product. When promotion management is done strategically, retailers can expect a positive demand shift. According to retailmenot, promotions trigger in-store and online purchases by 89-91%. Throughout this article, learn more about: Table of Contents What are promotions? A promotion is a specific tactic
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Analysis of Customer Response to Simple and Complex Promotions The value you convey to your customers is a key input into the success of achieving your promotion objectives. As the Harvard Business Review states, “How customers perceive the price is as important as the price itself.” For merchants, it is important to incorporate customer perception
Top Retail Trends 2022: Here is what we have learned In the midst of a pandemic, national lockdowns, shortage of workers, supply issues, and sweeping uncertainty, retailers had to become more creative and flexible than ever before. Across the last two years, we saw massive shifts in the way retailers conducted business in order to
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