Determining prioritization and sequencing of technology implementation that will enable effective transformation from multichannel to unified retail commerce is complex. The combination of rapid technological advancement with industry disruption has created great opportunities and significant challenges, requiring a structured approach. One of the major challenges is coordinating and aligning business and IT leaders’ actions to … Continue reading Toolkit Helps Prioritize Technology Investments for Retail
When news broke earlier this year about Amazon’s courtship of some of the world’s biggest consumer packaged goods (CPG) brands, it touched off a wave of speculation. Was the e-commerce giant engaged in a long game to alter the relationships between consumer goods makers and their brick-and-mortar retail partners? However it plays out, Amazon’s outreach exposed a … Continue reading How Consumer Brands Can Connect with Customers in a Changing Retail Landscape
Business in the 21st century is being redefined by a data-driven revolution. Take the MIT Media Lab’s experiment to see whether it could estimate retail sales performance on “Black Friday,” the day following the US Thanksgiving holiday. Instead of waiting for data from the stores themselves, they used location data from mobile phones to infer … Continue reading Data Can Do for Change Management What It Did for Marketing
At the Rebecca Minkoff store in New York’s Soho, “smart” digital walls and mirrors let you tap for a different clothing size or color — as well as a free glass of champagne. At the Warby Parker store near Hollywood, you and your friends can create your own 15-second shareable video in a “green room” … Continue reading Can store experiences save retail?
Customer lifetime value (CLV or CLTV) is the most underappreciated B2C metric. "Underappreciated, you say? We measure customer lifetime value, and it's really important to us!" Sure it's a common metric, but why is it important to your business? Most B2C marketers use customer lifetime value as an input to determine how much is reasonable … Continue reading Four Steps to Maximizing Customer Lifetime Value