Has the internet changed the nature of the way shopping occurs in stores these days? more
To a society fascinated with the process of buying and consumption, a great retail experience should be of significant importance; yet despite the fact that 90% of dollars are spent “in store,” the media are crowded with stories and analysis of “online experience” but scant mention is made of the ways in which we can improve the “in-store” experience for consumers.
Recently, Saks upended the luxury market with some deep price cuts. A 70% price cut caused a stampede in one store with over-eager shoppers fighting for Manolo Blahnik's at $160.
But what Saks and other major retailers are concluding is discounting is not a strategy and that everyday low prices are not working as well as they used to. It may be a compelling reason to come to a store, but it is quickly becoming less of a differentiator for the major brands.
So they are all now turning their attention away from Price and toward the Customer where it should be.
What do Retailers want to know??
Furthermore they imagine being able to communicate directly and pointedly with the customer when they are in their largest investment - the physical store!
We believe these customer insights are the right path for retailers and they not only make presence marketing opportunities a reality but also a very cost effective communication vehicle. In essence, retailers can deliver targeted In-Store marketing messages that influence buying decisions as they are about to happen. Now that's a strategy!
