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Headlines
Navigating The Digital Marketing Landscape: Effective Strategies For Today's Market | Forbes, 16 apr 2024
'Emails Work!' This Entrepreneur Says Email Marketing Is Still the Best Way to Connect and Sell. Here Are His Top Tips | Entrepreneur, 16 apr 2024
CONNECTING WITH CUSTOMERS—WHY BRANDS SHOULD SHOW FLAWS AND VULNERABILITY IN THEIR MARKETING | AdAge, 16 apr 2024
Diversity of India missing in advertising: ASCI-UA report | The Economic Times, 16 apr 2024
US Retail Loyalty Programs: Decoding Consumer Behavior To Build Lasting Relationships | Coresight Research, 16 apr 2024
How's you bank's customer service? Study suggests it could be better | Consumer Affairs, 16 apr 2024
DIY PR: 11 Public Relations Solutions for Small Businesses | Business News Daily, 12 apr 2024
Why branding matters for governments: Five minutes with graphic designer Paula Scher | Global Government Forum, 11 apr 2024
Ethical marketing in the digital age: Balancing innovation with integrity | ClickZ, 13 mar 2024
Leveraging machine learning for predictive analysis in customer satisfaction surveys | Data Science Central, 01 mar 2024
May 2021
Mohammad Anas Wahaj | 23 may 2021
Online retail has been consistently eating into the share of brick-and-mortar retail. COVID-19 pandemic further exacerbated the decline of physical retail in US due to numerous lockdowns, restrictions, social distancing norms, consumer behavior changes etc, and it is struggling for survival. Michelle Greenwald, CEO of Catalyzing Innovation, provides reasons for this decline that will continue to happen even beyond the pandemic - (1) Fewer stores and farther to travel. (2) Retail store experience worsening because space is being devoted to fulfilling online orders. (3) With a lower percent of sales coming from physical retail, allocation of items and sizes to stores can be less, hence it can be harder to find what you hoped to walk out with. (4) Fewer random/unplanned impulse store visits from passing by. (5) Corporate resource/investments are increasingly focusing on further improving online experiences, at the expense of retail. (6) Making stores truly experiential is costly, and hard to justify for many locations. (7) Retail is no longer expected to pay for itself. It's viewed by many as a marketing awareness investment. (8) Muscle memory and post COVID traumatic stress associations make many think twice about shopping in crowded stores. (9) Less in-person retail can reduce the ease of discovering new items. Key Insights - Digital experience is important and it needs to replicate positive in-person experiences; Products might need to limit endless SKU proliferation and focus on fewer, surer bets; Physical stores need to be more exciting and attractive with great locations, venues for events, product sampling, demos etc; In-store customer experience shoud not be effected by online order fulfilment from physical store. Read on...
Forbes:
9 Reasons Why The Future For U.S. Retail Is Dim
Author:
Michelle Greenwald
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