16 search results for “Kiera Abbamonte”
There has been a lot of focus in the retail industry lately aimed at finding new ways to connect with consumers in-store and differentiate the brick-and-mortar experience from ecommerce.
Many retailers are working to create a distinct in-store experience — but in today’s connected world, the most successful retailers are fusing digital and physical shopping to create a cohesive multichannel experience.
One of the ways retailers have drawn the digital experience into brick-and-mortar stores is through digital signage. Digital signage is exactly what it sounds like: signs and screens you can use throughout your retail store that display digital ads, videos, traditional store signage, or any other message you want to relay to customers.
Digital signage and corresponding digital signage software open up a myriad of new options for your store displays and it can make a real difference for customers. In fact, 68% of customers note that digital signage would make them more likely to buy advertised products. Forty-four percent even stated it would influence them to buy the advertised product instead of a product they already planned to purchase.
That’s why some retailers are rapidly taking to digital signage — and it seems to be working.
When you first open a retail store, there’s a lot to do. Finding your space, designing your store, ordering inventory...but before you do any of that, you have to register your new retail business.
The structure you choose affects more than just the legal paperwork you file for your business — like how the government taxes your business income and the regulations about business organization you have to follow. That’s why it’s important to weigh your options and ensure you select the best structure for your business.
We’ll take a look at what each of the three most common entities means for your business, the pros and cons of each, to help you make the best choice for your new retail business.
Customer loyalty programs have been a mainstay in the retail marketing world for some time now. They’ve helped retailers achieve multiple milestones, and they’re successful for a few reasons. For one, loyalty and rewards programs are really good at inspiring customer loyalty, with some 84% of consumers saying a loyalty program makes them more likely to stick with a brand. That means a good loyalty program can drive real, measurable sales results.
To compete with the speed and convenience of shopping online, many retailers have previously sought to speed up and shorten the brick-and-mortar shopping experience. But in the world of online shopping, retail’s competitive advantage is the in-store experience.
Despite the ease of shopping online, customers who head to a physical store are looking for something else. That’s why a leisurely experience (that facilitates browsing) generally leads to higher sales. As a retailer, the longer you can keep customers in your store, the more you can boost your bottom line.
But short of building a maze that traps customers in an endless loop, how can you keep them walking around your store?
Creating a predetermined path for customers to follow through your store can help encourage browsing and keep them in your store longer. Using interior design principles and a tailored store layout, you can set out a path through your store that keeps customers around and encourages them to buy more.
When customers walk through your door, you have a limited amount of time to make a good first impression — one that encourages shoppers to come in and stay awhile. Customers make a subconscious judgment about your brand within 90 seconds of entering your store. In the retail world, those are high stakes. Your store’s success depends on capturing the attention of shoppers.
A high-impact visual display has the power to entice customers and boost your sales. That’s why successful retailers put emphasis on an accenting a “power wall” within their stores. More than a simple wall display, a power wall helps draw customers in and channel their attention toward the items you want them to buy.
Not sure how to build an effective power wall that grows your bottom line? We’ll walk through creating a power wall display for your retail store that captures shopper attention and channels it into more sales.
Shoplifting and employee theft make up the bulk of a $45 billion annual problem for the retail industry. Retailers continue to invest in new technology to reduce inventory shrinkage. But typical losses still hover around 2% of annual sales.
Any way you add it up, that’s a big issue for retailers, especially those with tight margins already. Electronic item tags, high-tech surveillance and facial recognition, you name it — retailers continue to search for a one-and-done, slam-dunk-way to curb inventory loss.
But the reality is that an effective loss prevention plan is your best bet to limit your retail store’s losses. It's the only way to effectively fight problems like shoplifting and employee theft.
In the retail world, product returns and exchanges are a fact of life. Consumer product returns account for nearly 8% of all retail sales (that’s $260 billion every year) and can even hit 10% during the winter holiday season. Customers return items for a whole myriad of reasons — plenty of which have nothing to do with product quality.
With returns being such a big part of doing business in the retail space, it’s important that you and your staff know how to handle them. From store policies to staff training to learning opportunities, you can leverage each of these to create the best experience for customers and turn a negative into a positive.