Saturday, January 30, 2016

Technology Helps to Personalize at Scale

When it comes to personalization, marketers may still be stuck on the basics. However, many agree that technology is making it much more straightforward to personalize at scale, according to September 2015 research.



According to June 2015 data from the CMO Council, higher response and engagement rates are the No. 1 reason to using personalized content. Senior marketers worldwide also said that timely and relevant interactions, greater customer affinity and more persuasive communication were also leading benefits. 

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Friday, January 29, 2016

Mastery of beacons, mpayments is crucial in 2016: Coca Cola Exec

A Coca-Cola executive at Mobile Marketer’s Mobile FirstLook: Strategy 2016 claimed brands that continue perfecting mobile-first advertising, location usage, payments and beacons will be noteworthy this year, with Coca-Cola leveraging all to perfect the art of storytelling on digital.

During the “Coca-Cola: Marketing in a Mobile World” session, the executive discussed the beverage marketer’s top 2015 mobile efforts, which included being part of the introduction of SmartLabel packaging on products, beacon rollouts in developing markets and NFC-enabled vending machines. He also advised other brands to develop strategies that include mobile advertising, beacons, location and payments as they ponder best practices for 2016, underscoring the wide opportunity for round-the-clock marketing on connected devices.“Those who are assembling those links and stringing them together are going to be making news,” said Tom Daly, global group director at The Coca-Cola Company. “You have to think about how physical assets augment your digital program.”



Full article here

Thursday, January 28, 2016

Shoppers Warming Up to Online Grocery Shopping: Study

More shoppers are receptive to online grocery shopping, says a new study, which gives grocers more reason to latch on to this fast-growing opportunity.



Online grocery is one of the largest sources of growth for retailers and consumer product manufacturers with sales growing five or six times greater than conventional channels, according to the study, “Capturing the Online Grocery Opportunity,” by A.T. Kearney, a global management consulting firm.

Highlights of the study include: 

  • While all age groups are embracing online grocery, buyers in the 25-34 age groups (37 percent) have the greatest percentage of shoppers who say they have bought groceries online. 
  • Online shoppers use both websites and apps to shop for groceries. 
  • Many customers say they still avoid online grocery because they think the costs are higher. 
  • Nearly two-thirds of survey respondents say they would shop more online if they were offered convenient checkout and could quickly reorder items.   
  • Nearly two-thirds of survey respondents say they would buy more groceries online if they could guarantee the quality and freshness of products. 


Wednesday, January 27, 2016

Retail Trends Predicted for 2016

What trends will have the biggest impact in 2016?

Interactions, provider of retail service and experiential marketing for retailers and brands, made the following predictions: 

1. Improved Transparency and Distribution: There will be “less bad, more good,” meaning more products will be introduced with less sugar, less salt, fewer GMOs, fewer words you can’t pronounce, and so on.

2. Closing the Digital Divide: The digital shift in retail will continue, leaving brick-and-mortar retailers needing to find better ways to compete effectively in the digital space.

3. Retailers Take More Control of Shelves: Decisions about which items to carry and where to place items on shelves will be more driven by analytics than by brand bias.

4. Beacons Go Mainstream: Beacons will increasingly be the accepted form of digital communication with shoppers.

5. Delivering the Unexpected: More entertainment will take place in stores. Live music, wine tastings, specialty food sampling, and live chef events will become more common as retailers incorporate more of a social environment into their stores.

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Tuesday, January 26, 2016

Retailers Deem Unified Commerce as Top Priority for 2016: BRP Survey

Although the majority of retailers recognize the need to create a holistic experience that transcends channels for connected consumers who increasingly have the ability to shop where, when and how they want from their mobile device, most attempts are falling short, so finds results of a new survey by Boston Retail Partners (BRP). 



Key findings of the BPR 2016 POS/Customer Engagement Survey – which offers insights into retailers’ current point of sale and customer engagement initiatives, priorities, and future trends as the physical and digital worlds converge within the store – include:

  • Creating a true unified commerce environment is the top priority – 85 percent of retailers indicated this was a top priority for 2016
  • Improving customer engagement and the customer experience is critical – 68 percent of retailers indicated this was a focus for the upcoming year
  • Retailers are still occupied with payment/data security – 38 percent of retailers stated this was a top priority


To download the complete 2016 POS/Customer Engagement Survey,visit: bostonretailpartners.com/2016-pos-survey/.  

Tuesday, January 19, 2016

IGD Predicts Key Global Trends for Grocery Retail



  • Hybridization: “Retail ‘hybridization’ uses physical stores to bridge real-world and digital operations by offering pick-up points for online orders. It also describes the development of stores which offer both retail and foodservice, either through partnership with specialists or not,” he says.
  • Microconvenience: “After years of contraction the UK’s convenience store portfolio is expanding once more, with openings exceeding closures. Multiples such as Tesco Express and Sainsbury’s Local are driving this,” he says.
  • Go Faster, Way Faster: “Online retail continues to develop across multiple markets, with particular attention being devoted to quick and flexible fulfilment. Services such as Argos Fast Track and Amazon Prime Now are great examples of development in fulfilment streams; Argos offers same day delivery for small items to 90% of households, 7 days a week, while Amazon delivers food and drink in under an hour for £6.99, or under two hours for free to Prime members in certain locations, with a minimum basket spend.”
  • Robotrucks: “The U.K. is a leader in development of driverless vehicles and road tests have already taken place. Looking ahead, it is easy to envisage much of the work within food and drink supply chains being done by fleets of such vehicles – large ones on the motorway and small ones to cover the final leg to the shoppers’ door.”
  • Health: “Health and good nutrition are still high priorities, not just for shoppers but also for government. A new government Obesity Strategy is expected in 2016. It is not yet clear what it may contain, but it will presumably include measures intended to reduce calories consumed. This may be seen as a threat to food and drink businesses, but it might also represent an opportunity for innovation and product improvement.”

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How Retailers Can Use Customer Experience Data

Consumers make an average of 83 trips to the supermarket per year, according to Consumer Reports. With 52 percent of consumers reporting to PricewaterhouseCoopers that they return to a grocery store based on the in-store experience, it’s important that retailers pay attention to what customers are saying, to build customer loyalty and retain business over time. Understanding what your customers are saying about your store, your employees and your products can help not only to optimize elements of your customer experience, but also to mitigate any risk of losing your customers to a competitor or even facing legal action.



Here are six ways customer experience data can help shed light on what is, and what isn’t, working for your customers.

1) Identify the Struggling Departments
2) Demonstrate the real value in promotions
3) Show product availability versus inventory
4) Motivate and engage staff members
5) Help avoid legal trouble – early
6) Responding to your community


Thursday, January 14, 2016

For Many Shoppers, Mobile Is Essential When Researching and Purchasing Products

Demographic Profile of US Shoppers Who Primarily Research/Purchase Products via Smartphone, Q3 2015 (% of respondents)Female shoppers research products via mobile more than males

Mobile has become an important channel for shoppers as they research and purchase products. According to 2015 research, these shoppers “mobile warriors” skew younger as well as female. 

Y&R looked at different profiles of US shoppers and revealed that mobile warriors—those who primarily research and purchase products via smartphone—use their smartphones to compare prices, get information, receive coupons and make purchases. When it comes to the demographic profile of these shoppers, females make up 53.4%, while males account for 46.6%.
This shopper also tilts younger; 31.7% of US shoppers who primarily research and purchase products via their smartphone are between the ages of 18 and 29. Additionally, 36.3% are ages 30 to 44. However, these smartphone shopping behaviors are not just limited to younger shoppers. Consumers ages 45 and older also use their device to research and purchase.
Retailers Worldwide that Have Experienced Major Mcommerce Growth, 2014 & 2015 (% of respondents)
While mobile still accounts for a small share of total retail sales, retailers are feeling the impact of these devices.
According to data from Payvision, in 2014, 57% of retailers worldwide experienced major growth in mcommerce sales. And in 2015, 79% of retailers worldwide were undergoing major mcommerce growth.

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Tuesday, January 12, 2016

Mobile conversion on the rise

Affiliate Window’s mobile traffic conversion rate rose to 4.56% in the last quarter of 2015, up from 3.78% during the same period the previous year, according to its latest quarterly report.

Other key findings include:
  • 47.5% of traffic across the network originated from a mobile device.
  • 39.6% of sales across the network originated from a mobile device.
  • 57,119 sales came through a mobile device each day.
  • 28,303 of these were through a smartphone.
  • 1,179 sales were generated through a smartphone each hour.
  • 870 clicks originated from a mobile device each minute.
  • 35.6% of revenue generated for advertisers originated from a mobile device in Q4 up from 31.3% in Q3 2015.
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Monday, January 11, 2016

Mobile app use grows 58% in 2015

We experienced huge mobile app growth last year, according to a recent study of 3.2tn sessions by Flurry. 

Other key findings include:
  • Personalisation apps saw sessions grow by more than 344%.
  • The majority of the growth is from Emoji apps (mainly keyboards).
  • ‘Phablet’ use increased 334% YoY.
  • Productivity app sessions grew by 119%.
mobile app use 2015

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Sunday, January 10, 2016

Conversion rate 5.5 times higher after clicking a personalised recommendation

People are over five times more likely to complete an order if the recommendation is personalised to them

Check out the infographic below for more stats:
ecommerce stats infographic

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Wednesday, January 6, 2016

Mars Collaborates More with Retailers to Spur Impulse Purchases

Mars has concluded from global research about shoppers’ “emotional journey” to buy candy and gum that “checkout is the emotional low point of the shopping journey, no matter where or how you pay.”

Retailers can help shoppers overcome this low point and capture more impulse purchases by merchandising to better satisfy the three key shopper mind sets, or “need states,” that Mars has identified:
  • Refresh: Shopping can be stressful and tiring, so shoppers look to refresh or recharge themselves once the job is done, the company said. Items fulfilling the “refresh” need state, Mars believes, including gum, mints, beverages and snacks, should occupy 51 percent of total space, according to its research that developed guidelines based on national averages across channels.
  • Reward: Shoppers often seek a treat or reward, such as chocolate and non-chocolate candy, after the “chore” of shopping is complete. Items addressing the “reward” mentality should occupy 39 percent of a retailer’s total space devoted to the category, Mars has concluded.
  • Remind: It is helpful for shoppers to find items they forgot to add to their lists, such as batteries and lip balm, in the transaction zone, in addition to confections and other snacks. These items should occupy about 10 percent of the total space, the company said. 

Satisfying these three distinct shopper mindsets “is key to promoting conversion for categories like chocolate, gum, mints and candy,” said Tim LeBel, vice president of sales for Mars Chocolate North America. The brands “are working with retailers across channels to ensure current and future checkout choices satisfy their shoppers’ needs during checkout and drive impulse purchases.”
The checkout remains the main destination for confectionary brands. Mars aims to make sure that wherever the checkout is, its Mars and Wrigley brands are working with retailers to optimize their footprint in impulse purchases.


Excerpts from an Orignal Article

Tuesday, January 5, 2016

Forecast for FSI and Digital Offers in 2016?

It’s no surprise that brand marketers will continue to rely on free-standing inserts (FSIs) this year as part of their marketing mix. Meanwhile, digital coupons will become a more important component of a brand’s promotional campaigns. 


“Innovative technology and shifting demographics are impacting how media are being consumed and how offers are being distributed. However, the most desirable results are still achieved when the message is delivered while the shopper is receptive to the information, or better yet, while they are actively seeking information and making purchase decisions,” said Dan Kitrell, Vice President, Account Solutions, Kantar Media, provider of competitive brand and retailer advertising and promotion intelligence.
  
But beyond the obvious predictions about FSIs and digital offers are many trends and developments for brand marketers to consider as they formulate their promotion strategies for 2016.

Here is an Article for insights from experts 

Monday, January 4, 2016

Future of Data Mining

What is data mining? 

Data mining is the act of scanning the web for data points and collecting them to use in your business.This data can be anything, from competitor prices to customer cart abandonment rates.As long as you're monitoring and collecting, it's considered data mining. It can sound daunting, but it's actually become quite simplified over the past couple of years.
Since you aren't going to be able to use a pickaxe or a pan on your computer, how will you be able to mine the best data? Well there are two many ways of doing it: manually, and automatically.
Manually mining for data is essentially reviewing data on competitor sites over time, collecting it, and analyzing it to make decisions. Automating the entire process will provide your business with more accuracy and save some of your employees major headaches.
The reality of the ecommerce landscape is that prices change throughout the day, and if you're scanning dozens of websites you're destined to miss some changes. It's because of this unpredictable nature that data mining is becoming a necessity for the future of retail.

Mining customer data

Your customer data can teach you how to improve your store's merchandising. Data like heat maps, cart abandonment rates, and more can help you optimize and improve your store's conversion rates.
If your cart abandonment rate is high, you can use that knowledge to improve the layout of your checkout screen. Or, you can use it as a way to measure the impact of shipping costs on the checkout decision. Roughly 45% of shoppers are more likely to shop at a store that offers personalized recommendations.
You can make these recommendations with a data mining technique known as basket analysis. This measures a customer's cart contents so the next time they visit you can offer them similar items that they might be interested in.
Recommendations are becoming the norm in ecommerce, and you don't want to get left behind. If a returning customer is visiting your store and abandons their cart, you can use their previously mined data to email them discounts and win them back.
Retargeting ads have been nearly twice as effective as other marketing attempts, and their success is showing no signs of slowing down. But data mining goes beyond customer data, and is also applicable when it comes to competitor data.  

The future of retail

Online retail's future lies within data mining because it allows brands to provide consumers with unique, personalized shopping experiences.
On top of that, data mining helps retailers compete against other sellers of any size, levelling the retail playing field and improving the pricing strategies of those who mine.
The success data mining offers indicates that we've only seen the tip of the iceberg for this tactic.
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