Tag Archives: retail

Nov 17 2015
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It’s Black Friday – I’m in love

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With nearly seven out of 10 retailers (68.9 per cent) expecting Black Friday to become more popular over the coming years in the UK and Ireland, it is likely to remain an important retail event for the foreseeable future.

Cast your mind back to the Armageddon-like scenes of 2014 where people literally fought to secure a bargain and, in some cases, bargains they didn’t want or need.

From a brand perspective, retailer or product, how can you tame Black Friday to continue driving excitement while maintaining a positive customer experience?

The fact is that Black Friday is good for all retailers, irrespective of whether you take part or not. Statistics have shown that UK retail footfall year on year for Black Friday 2014 had an increase of 9.8 per cent overall. When broken down into locations, the high street saw a 7.2 per cent rise, shopping centres an 11.3 per cent rise and retail parks a 14.4 per cent rise. This demonstrates an increase in opportunities to sell not only deals, but also stock items.

Advertise your offers in advance and consider a “by invitation only” VIP Black Friday event for your customer database.

Looking online, use social media and your website to pull customers in-store. Local advertising and banners can help your store stand out from the rest, creating an event to enhance the customer experience and drive excitement.

It’s obvious that you need to make sure you have sufficient stock, perhaps also implement a ticketing system, as people who really want an offer won’t mind waiting if it means they get it without the risk of a scuffle. Also, consider your non-bargain-hunters who may just want to shop – the hordes will only discourage your average shopper.

Place bulk-stack deals near the doors, avoiding obvious security risks, and encourage a flow through your store.

Keep the store busy with offers located in prime positions, supported by staff on hand to carry the item to the till or at least make customers aware of the offer to help shift those boxes. Link sales to other items – while a big-screen TV may be appealing, it still needs an HDMI cable and you’re more likely to make that connection sale if it’s also on offer. Better to attach than not.

Your online sales shouldn’t be excluded – 30 per cent of survey respondents plan to buy online during Black Friday 2015, up from the eight per cent who purchased online in 2014.

Still, consider delivery charges, which can negate any profit made for both you and your customer. One key thing to consider is whether your website can keep up with the pressure of increased traffic. In 2014, 12 per cent of shoppers experienced technical issues when purchasing goods online during the rush. If you are planning to run important deals online, preparing your site to handle large numbers of users will prevent lost sales and angry customers.

Big-box retailers and grocers alike court the publicity and will create PR hubs that achieve those sensationalist, headline-grabbing TV images. It’s therefore important to note that if you put on a Black Friday promotion, it isn’t necessarily going to turn into a bloodbath. However, the increase in footfall and sales is evident but, just in case, do make sure you can still sell on the stock after the event.

Finally, how can your brands help support your promotion or even your event? In crowded categories, Black Friday is an opportunity for many brands to gain distribution and market share through selling end-of-line products. For electrical products, GfK measured a value growth rate year on year of 24 per cent and, not surprisingly, 59 per cent week on week. When broken down by category, Black Friday 2014 average sales increased significantly compared with the week before, with mobile sales up 129 per cent, more notably TV was up 103 per cent and audio up 157 per cent.

This clearly identifies the opportunity for electrical retailers with careful selection of products and brands within your core lines. Working in partnership to leverage sales could work to create a more intelligent and rewarding Black Friday experience for retailers, brands and most importantly consumers.

Read more at: http://bit.ly/1NYWNuI

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Oct 20 2015
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Why Shopping In-Store is in our DNA

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Whilst online shopping is big business for all brands, in today’s developed omni-channel world, the need to physically immerse ourselves into a brand is still really important.

When we go to a shop, we like to choose our fashion purchases carefully, weigh up our options and try them on, or at least appreciate that it may fit based on its cut and quality. Our research shows that around three-quarters of consumers say the ability to touch, feel, choose and compare products before they buy them is a key benefit of shopping in a physical store. More than a transactional experience, shopping is a social activity that we like to share with others. Over half (53.25%) of shoppers like to take their friends, partners, or family shopping – either as a social occasion or to help decide what to buy.

An open, sociable atmosphere can be harnessed by trained and amiable staff that consider the needs for shoppers that not only want to hang out with friends, but also want to discuss their ideas before making a purchase decision. Indeed, over a third (39.20%) of shoppers say they value advice from in-store staff whilst shopping. Brand staff need to be collaborative with shopping groups to not only help with purchase goals but also to create an environment that these social groups will want to return to.

To support the shopping process, brands need to offer an engaging in-store experience that accentuates the need for a social environment and immerses the shopper into the brand. When it comes to buying clothes that require a careful decision, almost three quarters (73%) are likely to go in-store. Fashion choices especially evoke discussion, debate and positive emotions amongst shoppers as they compare clothes and spend. The physical shop still provides that connection with your brand and instant association and buzz that people need to become a follower of your brand.

As shoppers we like, especially for those special luxury purchases, immerse ourselves in the total brand experience from the plush carpet to the lighting and customer service which add to the customer journey and make that product seem exceptionally good value in comparison to high street brands.

A lot has been said about the retail environment changing due to the influx of channels to engage with, but in many ways the deep rooted desire to shop for apparel is still the same. We still need the physical experience of shopping. More than a pastime for many – it’s an intrinsic part of life and brands become engrained in the fabric of our lives when it comes to what we choose to wear.

 

Read more at: http://digitalmarketingmagazine.co.uk/offline/why-shopping-in-store-is-in-our-dna

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Oct 16 2015
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Brands should take an omnichannel approach this Black Friday

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As we lead up to the festive peak season and retailers are once again preparing for this year’s Black Friday weekend, the omnichannel experience is still a fundamental part of retail strategy. There has already been a number of sources speculating that this year’s sales will break all the records set last year, including predictions that online sales will surpass the £1bn mark, up from £810m in 2014. Notably, the number of consumers shopping online for Black Friday deals is set to increase to 30%, up from 8% last year.

Clearly, we’re beginning to see the growing importance of online leading up to Christmas and Black Friday, itself made popular by Amazon, whose recent Prime event similarly guaranteed orders and revenue. Although last year’s peak season generated a 10% increase in high street footfall compared to previous years, consumers increasingly seem to be going online for their Black Friday deals.
However, despite the growth of online sales, recent research from Gekko shows that nearly three quarters (74.2%) of shoppers benefit from the touch, feel and physical comparison of products when making purchase decisions. This is especially the case with high ticket electrical items such as a smart TVs or washing machines, where 67% of shoppers are likely or very likely to buy in a physical store, compared with only 46% who would consider buying online. Moreover, more than half (56.8%) of consumers prefer to head onto the high street so that they can seek advice when making a considered purchase.

In an increasingly connected retail landscape, in-store retail sales are gradually feeling more of an impact from online, especially with smart phones offering shoppers a way to price check in their pocket. Barclays recently predicted that 42% of all retail sales will involve a mobile device in some way over the next ten years, clearly showing how brands will need to integrate their online and retail offerings to create consistent branding and the omnichannel experience we now expect.

This peak period, brands need to ensure that their sales and promotions take into account the omnichannel nature of retail today. While online sales will certainly be a focus this year in light of increasing numbers of dedicated online consumers, brands should not neglect the legions of shoppers that will descend on the high street, often using their smart phone to ensure that the deal their considering isn’t cheaper online.

Making sure that your branding in store matches that of your online offering will ensure that the 54% of shoppers that like to research products online before buying in store will continue their customer journey to buy your brand. Placing brand ambassadors in store to support your peak promotions are proven to assist customers looking to purchase considered items, supporting the majority of consumers who want to experience a product or ask advice before making a decision.

Whether buying online or in store, Black Friday is guaranteed to make the headlines this year, either for record sales or for more riots in supermarkets over discount appliances – perhaps it will be both. Black Friday is now a retail institution, which begins the Christmas peak shopping period for both retailers and brands.

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Sep 28 2015
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Staff key to a successful peak period

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With last year’s Black Friday generating a 10 per cent increase in footfall compared to previous years, research from Gekko highlights the need to recruit and train in-store brand ambassadors to maximise in-store opportunities for the 2015 peak festive period.

A staggering 50 per cent of shoppers said that there is often not enough staff on the shop floor to help them when making a purchase decision. There is also concern over the manner of in-store staff, with over half (52%) of shoppers complaining that they are too pushy about making a sale.

Despite the growth of online sales, nearly three quarters (74.2%) of shoppers benefit from the touch, feel and physical comparison of products when making purchase decisions. A quarter (26.35%) of shoppers buy in-store when they are purchasing items they need to think about and choose carefully and over half (56.8%) head in-store for advice when making a considered purchase.

Sarah Mandeville, recruitment manager at Gekko believes that staff hold the key to converting sales during the peak-time rush:

“Whether they are full-time or temporary over the peak period, retail staff must demonstrate passion for the product and the ability to make a positive impression on shoppers. In-store is a vital touch-point for consumers, and retailers need to ensure that their staff are trained to maximise every opportunity. In a competitive landscape, which is heightened during peak, a retailer will only get one chance with the consumer.”

To manage the peak-period, here are five important action points for retailers to get the most out of their staff:

1. Allow time for training – Speed is often important when training temporary staff in the run-up to Christmas. However, staff will be more motivated and likely to convert more sales if they are immersed in the role. Take time to build your team’s knowledge and understanding of the brand, company background and product range. In an omnichannel environment, where shoppers can obtain product information using their smartphone, your brand ambassadors must know more than just the product they are selling.

2. Ongoing support – Training shouldn’t just be delivered at the beginning of the peak-period. Once the staff are in place, ongoing revision, recaps and coaching should be continued to keep the team sharp on sales messaging and promotions.

3. Create a team environment – staff may not all work on the same days or in the same locations. Using group chat or social tools such as Facebook or Google Hangouts can help to communicate simultaneously and build communities. To lead the team environment, allocate a mentor as a point of contact to motivate and be contacted at any time.

4. Don’t just motivate with money – Monetary incentives can be short-lived. To motivate the team, it’s worth creating friendly competition with leader boards and prizes. This can be a fun way to build a positive attitude among the workforce.

5. Treat everyone the same – To make employees feel part of the team, employers need to treat temporary staff as though they are full-time employees. Putting effort into training and making temporary staff feel part of a larger team can be a motivating factor for staff in itself.

Read more at: http://digitalmarketingmagazine.co.uk/digital-marketing-news/research-shows-retailers-could-suffer-over-peak-period-with-lack-of-in-store-staff/2622

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Aug 11 2015
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Sunday Trading – The 7 Day Shopper

The rise and fall of the UK high street is well-documented and never far from the news agenda. With retailers scrutinising sales figures and competition being fierce, extending opening hours across Sunday could be a vital first step to rejuvenating the high street and beyond this, the UK economy.

Unlike any nation in Western Europe, the UK is unique in that we like to shop, whilst other nations shop out of necessity, we in the UK like to make our retail therapy more of a sociable brand experience. For a long time now people in the UK have used Sundays as they do Saturdays – to carry out one of their favourite hobbies and pastimes, shopping.

George Osbourne’s recent announcement to shake up Sunday trading laws comes as no surprise. In our current consumer climate, purchases are firmly becoming ‘any place, any time’ and Sunday is no longer an exception to this. Combining the rise of consumer appetite with the reality that people lead extremely busy lifestyles means people want to have the choice to shop for more than six hours.

We are witnessing a shift in the way consumers are buying their goods. There is a lot to be said about people moving online, however a recent article from Forbes reported a 95 per cent of retail purchases worldwide are still being made in-store. This alone should be enough to make the retail industry step up and cater to shopper demand.

As well as ensuring they are adapting to customers developing shopping habits, for retailers, the change in Sunday trading laws is an open door of opportunity. Although we should consider those individuals who want to keep Sunday as a sacred day, looking at this from a commercial point of view – this is all about maintaining a strong, healthy economy in our 24/7 lifestyle, the balance is for retailers to make it work respectfully for everyone’s benefit and lifestyle choices.

Currently in some communities or high streets, stores choose not to open due to the high cost of staffing and overheads costing retailers money instead of making a profit. The laws give retailers the ability to create thousands of jobs through the same trading hours offered the rest of the week, having the option to bring staff in and pay them for longer than 6 hours of work and generate millions of pounds in extra income.

Not only will the changes mean more money in people’s pockets, they will help to boost the UK economy and in a sense help reinvigorate communities and the high street.

The shake up of trading laws is not surprising as sticking to traditional, some say outdated laws, links back to a consumer world that ultimately no longer is reflective of the UK’s lifestyle and desire to shop whenever and wherever they like.

 

Read more at: http://bit.ly/1IGTLVD

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Mar 25 2014
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Did the Wearable Tech Expo deliver the goods?

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Last week saw London’s Olympia host the UK’s first ever Wearable Technology Conference and Expo, dedicated to showcasing the latest developments in smartwatches, wristbands and other wearable devices. With speakers from Microsoft, Google, Samsung and Intel, the show promised a lot, but did it live up to the hype?

The show floor at Olympia reflected an industry that is still in its infancy with a clear split between sport and leisure wearable gadgets. The most commercially successful wearable tech category so far is that of sports-focused devices, and the plethora of health and fitness-trackers on display at the show underlined the consumer demand for these products.

Wearable tech innovations are helping athletes – both amateur and professional – to improve their performances by creating data while they train, allowing the user to identify areas that require improvement and extra focus. The recent Winter Olympics highlighted these developments as we saw athletes from around the globe trying out a variety of devices in an attempt to gain an edge over the competition. Users of sport-based gadgets certainly know what they want from their devices.

On the other side of the coin, the majority of leisure-focused wearable gadgets like Google Glass and Vrase have not yet hit the open market. This category of devices needs to be refined and defined for the consumer before it penetrates the market, a point which was very evident at the show. The battle for domination in the wearable tech industry is heating up with the major announcement from Google last week about its plans to establish a bigger presence in the industry. The search giant announced Android Wear, a version of its operating system designed specifically for wearable devices. The effects of this move by Google will be felt across the sector by chip makers, electronics firms and fashion labels working on wearable gadgets this year.

All of this is taking place against a backdrop of privacy and security concerns among UK consumers. The market share remains firmly up for grabs and the next twelve months will tell an interesting tale.

In order to thrive in the wearable tech industry brands need to place more emphasis on the quality of the design of the products, with much more input from the creative and design side required. Brands will also need to explore more effective ways for users to interact with the devices. Whether this will be achieved by taking voice activation or recognition to the next level, or through an entirely different approach remains to be seen. We can expect a different state of affairs at London’s Wearable Tech Show 2015. Watch this space.

Rupert Cook is business development director at field marketing agency Gekko
Read more: http://wallblog.co.uk/2014/03/25/did-the-wearable-tech-expo-deliver-the-goods/#ixzz2wzshjKXd

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