As data expands and becomes an increasingly valuable commodity, search becomes more important than ever, writes Microsoft’s Christi Olson. http://bit.ly/BR2O30CTw
Millennials (the generation born roughly between 1980 and 2000) are emerging as a retail juggernaut. According to data from Accenture, there are around 80 million Millennials in the U.S., and they spend $600 billion annually. By 2020, the firm expects their spending to grow to 1.4 trillion and make up as much as 30 percent of total retail sales. http://bit.ly/BR2M7Wzn3
“What does emotional connection mean to you?” I asked a senior leader of a retail chain. I was expecting an insightful answer. “It means being helpful, courteous, and respectful to customers,” he replied. I probed a bit further. “How is emotional connection different from plain, ordinary customer experience?” I got a speech about being treated like a person and not a like a number. He ended with: “We need to stop treating customers like consumers and started treating them like friends.” He made it sound unique and new. http://bit.ly/BR2N63JcH
Today’s retailers are facing an uphill battle. Consumer shopping behavior is continuously changing, and among larger retailers like mass merchants, wholesalers or grocery chains, there is fierce competition for shopper loyalty. http://bit.ly/BR2O1dSrI
It’s an occupational hazard within the retail sector: Lessons learned in the market are usually learned the hard way. Adding insult to injury, there is a very low margin for error, particularly when changing course in the business does not correlate with shopper demands.
The good news for grocery retailers is that decades of lessons learned via brick-and-mortar initiatives for category management and shopper marketing can be applied to e-commerce with relative ease. http://bit.ly/BR2McaBsu