Fun Fact Friday & Retail Trending News This Week

March 10, 2016

FUN FACT OF THE WEEK

93% of shoppers will take action to qualify for free shipping. Adding items to the cart is the #1 go-to action. How do you leverage that? Read more here from our blog!

 

HOT TOPICS TRENDING THIS WEEK

1. Apparel: New Technologies Help Retailers Step Up Loyalty Programs

According to a recent study by COLLOQUY Loyalty Census, memberships in loyalty-specific programs are growing at an annual rate of 26.7 percent and more than 2.65 billion exist in the United States. The caveat, however, is that while shoppers are joining loyalty programs, they do not consistently participate in them. The study found that even though the number of loyalty program memberships per household has grown, less than half engaged with their membership in the previous 12 months.

It is clear that the majority of retailers are not executing effective loyalty campaigns. Instead, they continue to rely on an antiquated method of building loyalty: discounting


 

2. Luxury Daily: Retailers’ mobile marketing budgets jump as silos tumble

“In 2016, 74 percent of retailer mobile teams will be responsible for driving both mobile and in-store traffic – an increase from only 64 percent in 2014.” “The shift in thinking to multi-channel marketing is most fascinating amongst internal marketing departments,” said Marissa Tarleton, chief marketing officer for North America, at RetailMeNot Inc. “Retailers have operated in silos where e-commerce departments not only didn’t work together, but in some cases competed outright with their brick-and-mortar counterparts"


3. Luxury Daily: Bloomingdale’s pursues new market segment with in-store scavenger hunt
According to the firm’s annual study of CMOs from 100 of the top U.S. ad spenders, the average tenure for marketing chiefs fell to 44 months as of 2015, down from 48 months in the prior year. Spencer Stuart also found that nearly a third of the study’s CMOs were new to their job in 2015. Where this trend is coming from and the impacts it has on various industries here.

Over the past year, we have learnt that the relationship between digital and retail stores has changed, and there are three new realities peeking their heads into consumer-data understanding. These realities are predicted to drive retail from a digital perspective throughout 2016 and beyond. Three out of four searchers who find local information results are more likely to visit the actual store....

  • 42% of instore shoppers search for information instore
  • 64% of those use search engines
  • 75% would like the price of the item at a local store

 5. The Telegraph - Local and personal: the future of retail marketing

Technological advances and our hyper-connected lifestyles have led consumers to expect instant gratification and personalisation at every turn. Retailers now face a daunting ultimatum: change, or become obsolete. Here are five hyperlocal marketing trends not to be ignored.

  1. Consumer expect & demand hyperlocal experiences
  2. The technology giants are delivering against this expectation, ahead of everyone else
  3. Reputation management is going local
  4. The local search ecosystem is gaining in prominence
  5. Media spend is increasingly local

 

 

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