Holiday 2013: For Once Early Shoppers Get A Deal - Forbes - 5 views
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This article explains ways retailers such as Toys-R-Us and K-Mart are using layaway, return policies, and reward programs to get consumers into their stores to ultimately make transactions. Can you think of other retailers who are implementing these types of incentives? Have any of you ever put something on layaway? Do you think these incentives/programs are beneficial for retailers?
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I actually really like this idea of offering deals to get people in the store early, it reduces the revenues lost with huge black friday price cuts by offering a more relaxed approach. It also would help the company make sure they don't run out of stock of a certain item. Having more customers in the store before the heavy Christmas shopping starts gives them a view on what will be popular and will help them forecast better and make sure they don't have missed sales opportunities.
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I think extending the return policy is good because it allows for someone to use the products as gift for Christmas. I don't know what I think about having sales earlier. If they keep doing this, soon sales for Christmas are going to be six months out of the year then it's going to be all year; I mean how long is too long?
From McRibs to Maseratis: The Power of Scarcity Marketing - 2 views
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How limited offers can make consumers perceive products as better than they actually are.
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I really liked this article because I was able to find aspects where I can really relate. One thing that came to mind is durning Christmas/winter months, Hershey's releases candy cane peppermint kisses. I have associated these with only that time and I'll buy more of them specifically because I know they won't be here long. I don't feel like this is something we as consumers need to learnt o say no to. I think it is merely a marketing ploy that works well. For those from Indiana, or other similar states in terms of seasonal changes, I feel like we are all somewhat trained with this mentality due to our seasonal changes. Towards the end of Winter we can't wait for Spring and so on. I ink it would be interesting to see did there is any difference related to this scarcity concept among people from Indiana for example versus Florida. I think it would make sense that people in Indiana may buy more of something associated with winter during that time due to the temperatures we experience versus Florida who would still have that winter spirit, but not the weather to further encourage it. It could have no effect, but I think it's interesting to think about.
Big brands target Hispanic consumers - 2 views
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McDonald's and Walmart, are flexing their marketing muscles to reach the $1.2 trillion Hispanic consumer market. The population will account for about 11 percent of all purchasing power by 2017,
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Walmart set out to double its multicultural marketing
Finish Line Launches into Mobile POS | Retail Best Practices | RIS News: Business/Techn... - 6 views
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Finish Line is has jumped on the trend that I think will ultimately be a benefit them, mobile check out. It takes the hassle of lines out of shopping, and like I commented on a different post, the less time you spend in line the more time you spend looking around the store. More time shopping will equal more products purchased.
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I agree with Brock. Nike has their own customization, I think now its time for the store to start doing that. I think this would improve sales because when I got my shoes I went to Nike's site so I could customize the shoes to how I wanted since it was only like $10 more to have them exactly how I wanted them.
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This is really cool what they are doing! I'm curious as to if they had a issue with lines in their stores or if they are working on simply improving customer service.
EBSCOhost: 'Misleading' Tesco horse meat ad banned - 5 views
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"implied"
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Tesco released a questionable apology ad because they used horse meat in their products which led to some legal and ethical issues.
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After reading this article it made me think -- gee more and more companies that sell food need to focus on where their products come from! It is safe to say articles like these are sure to influence customers to be more conscious about where their food comes from.
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I remember hearing about the horse meat scandal when I was in Spain, and I would have to agree with their point of how it affected everyones view of packaged meat. I am not even sure if Europe had problems with this, but the uproar from family and friends in the US made me think this was a world wide event. To piggy back off of Chipotle, I think the meat industry needs to look to better ways of improving meat quality and especially make an effort to voice these changes in product quality to consumers so there is trust again.
There's No Getting Around It: The New Chipotle Ad Is Amazing - 1 views
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The newest Chipotle ad. A phenomenal example of Chipotles ability to highlight the unethical practices occurring within factory farming. It challenges the viewer to question the foods they eat and the corporations they support.
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This commercial really makes you think as the consumer about the products you consume that are "farm fresh" without even giving it a second thought. It also brings up the idea that by eating at restaurants that use products that are from "factory farms" or by purchasing such products, then you are supporting their efforts in a way. This commercial makes you think twice, and it will have a lot of people thinking of Chipotle the next time they want Mexican on the go!
New Wisdom on How Men Shop for Clothes - WSJ.com - 2 views
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Women have long dominated consumer fashion both online and off, but men's interest is on the rise, and they are expected to offer big growth in coming years, particularly as the millennial generation settles into adulthood.
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but men increased most types of shopping between 2004 and 2012.
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"Men are becoming more like women in [the fashion] context,"
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I think my favorite part of this article is that they are going to include a strip of packing tape to make it easier to return. That is just funny. I would think they wouldn't want to make it easier to return,, I mean, what company wants to have a customer return an item. I understand they want to make it convenient, I just think it's funny.
PayPal points Beacon toward the future of in-store payments | RetailCustomerExperience.com - 2 views
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Be sure you check out the two videos as well -
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Technology never ceases to amaze me - how convenient for people who hate waiting in line. I agree that there is a HUGE security concern for retailers and consumers. I think there are a lot of issues that need to be addressed on all ends. It will be very interesting to see if this idea catches on or if retailers and consumers will continue shopping as they always have.
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PayPal was a huge success online and I believe it will be a success in the stores too. I hate to wait in lines and if this shortens lines then I am all in. I agree with Sarah the security issue does worry me and needs to be tested and addressed before actual use. Once the security problems are fixed I firmly believe this with great enhance the customer experience and drive revenues in the retail industry.
Will Whole Foods Dilute the Brand With a Lower Cost Chain? - 4 views
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This article discusses how Whole Foods is trying to position itself as a go-to grocery store. Do you think this is a good move for Whole Foods? Do you think their position as a organic and higher end health only grocery is a better position for them?
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I think loyal customers will recognize that the brand is capitalizing on helping a community grow. I think it will help the brand because it's consumers are interested in helping the community and creating sustainable environments.
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I think this article is very interesting because I had the same thoughts when learning that Whole Foods was expanding into these new areas. Since Whole Foods is considered a high-end grocery store, it really made me question what its marketing strategy actually is and if they are making the right decision by entering into these markets. I truly think this will be a challenge for Whole Foods because they are dealing with a market that is not truly its target market, but if they succeed I think this will strengthen Whole Foods' brand more than any other grocer.
The loyalty lie | RetailCustomerExperience.com - 6 views
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most loyalty programs don't work
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So, why don't most loyalty schemes work? Research points to several reasons. Loyalty programs are transactional. Loyalty isn't.
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The best brand/consumer relationships are those that become transformative in the sense that the customer feels somehow better for having done business with the brand. The brand and shopping experience are the loyalty program.
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I agree with the article, that loyalty programs are not working. In my own experience there are only TWO kinds of loylty programs that are working somehow. Firstly, a loyalty program that is introduced by a brand/shop/store that I am already loyal with, e.g. the favourite coffee shop, or the closest supermarket. In those shops a loyalty program might even lead customers to buy more and appreciate it. Secondly, what I think is also working are loyalty programs introduced by a pool of shops. E.g. in Germany we had PayBack for a long time, which was a joint loyalty program that gave you points in almost any major retailer in Germany, so it was used by a lot of people. Noone wants to have 10 or 15 loyalty program plastic cards in their wallet, though...
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I believe one of the largest reasons why loyalty is such an obstacle in today's markets is primarily due to fast paced, innovative society that we live in now. Consumers are becoming so oriented to 'the next big thing' that it is increasingly difficult for businesses to keep up with this rapid changing of trends, especially considering the small window a product has before it is one-upped.
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I thought this was interesting to read as I myself have several loyalty cards to various places. I never put much thought into it, but after this article it really emphasizes the fact that I. Not really loyal to the brand as much as e transactional benefits. Given an alternate and similar option at a better price I would probably jump ship from those I support now to something different. It may not create the sincere loyalty, but it has worked in keeping me to returning to certain places for the transactional benefits, so it doesn't seem like a total failure.
Apparel retailer Onward Reserve refines its e-mail targeting and gains revenue - 5 views
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This article discusses how apparel retailer Onward Reserve refines its e-mail targeting process in order to maximize brand exposure and increase consumer interaction. Do you think that e-mail targeting will remain relevant in the coming years and be an effective strategy? What other methods do you see retailers using to target particular markets and segments?
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This is a clever idea. Not necessarily try to sell a product in every email, but more keep the consumer engaged as to what is going on the company. I believe this will help cut back on the number of customer getting annoyed by all the emails sent out by certain companies always trying to sell something.. I believe this method should be adapted by more companies.
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I think that e-mail targeting will not remain a relevant strategy. I am already overwhelmed and overlook e-mails from companies. But, if there is an innovative e-mail or heading then my interest will be met. It depends on the content and how many times I receive e-mails whether or not I open it up.
Apple's Seductive Brand Promise: Cultural Capital and Social Mobility - 8 views
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Despite the recent scandals regarding Apple's business practices, it has succeeded at cultivating a brand to which we feel positive emotional attachment. How does apple make a difference?
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I am not an Apple follower and to be honest don't see the point of the prestige they place on their products. One thing that stood out to me in this article were some of the ways they marketed their products. One was touched on Apple products can make you better, later it adjusted this by saying it gives you the tools to be the best you, but it still rubbed me the wrong way. the other way was with the Ghandi ad made reference to "daring to be different". In today's terms buying Apple products is hardly being different but even when the ad came out in 97 Apple products did not offer customization, which what I associate with being different. It offered Personal Computers with a different OS. I may be biased against them but it just seemed like odd ways to promote their products and didn't sell me on any of their products.
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WOW, what an amazing article! I think this is a great example of a great product that does great things for its consumers. I especially appreciate the time line of Apple's ads and their competition throughout. I think it is interesting to mention how their product differentiation is slight for specific products, but that is what keeps the customers who are loyal even more loyal.
Target Knows Before it Shows... | Applied Data Labs - 7 views
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What a great target market! Never thought that by targeting mothers that they would continue to shop at the same location they bought bottles from. Crazy to think how companies can know so much about someone! Poor father.. but I think Target moved in the right direction by making the coupons more random and less direct. This is definitely something to take into consideration when I, or anyone else for that matter, finds marketing jobs. Great article! Loved the insight.
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What a great article. I had no idea the amount of data acquired about its customers. Like Lina and Kyle said it is a good idea to send customers a wide variety of coupons versus more direct coupons, which makes me feel a little less creeped out that target knows so much information about us. It is an interesting look on how companies acquire data to bring customers in and transform them into loyal target customers .. especially interesting to see that mothers are targets main target!
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Target is one of those stores where I walk in needing one or two things and leave with five or six items I had no intention on buying. This article really shows how innovations in marketing research can boost sales immensely. I agree with Lina, Kyle and Sarah in that it is good that the coupons are more random so Target does not scare their customers away. I am interested to see what Target does their research on next because they have had such great success with the moms to be.
Retailers, Take Note: Young Shoppers Don't Care About Owning Your Stuff | Fast Com... - 14 views
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This was really interesting to read especially because my friends and I just spent the afternoon roaming around Mass Ave and not one of us made a purchase. We decided to spend the day at the City Market and then walk around downtown. I think that in relation to this article our generation is becoming for concerned with experience as opposed to purchases. While none of my friends made purchases in stores downtown, were were willing to pay the gas and food prices ect. in order to contribute to our overall experience downtown.
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This article made me really think about my purchasing habits, and what I value when deciding whether or not to make a purchase. What really stuck out to me in this article was the idea that the millennial generation might be becoming more frugal. With the heavy focus on online shopping, I think it provides customers with more options. You have the ability to go to a store find something,not purchase it, but still have the experience the "shopping" experience. If you saw something while looking that you want, there is the option to go online to seek out better deals with other companies for the same product. So the millennial generation may be more frugal in the sense that there are many ways of obtaining the items they want, but they utilize the internet to seek out better prices.
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I agree with Megan, Sarah and Lina. I view shopping more as a social experience than anything else. It is very rare that I ever go shopping by myself because I enjoy having someone there with me when I am trying clothes on and walking around etc. With that being said, after a day of shopping or being in a shopping environment I do not base whether I had a good day or a bad day based on how many items I purchased but whether I had a good experience shopping. Whether that be based on the people I was with, or if my food was good or bad or if there was good or bad customer service at the stores I was at. I also personally think there is a completely different experience shopping for clothes in a store vs. shopping for other retail items (electronics, jewelry, appliances, books etc.) in a store. A lot of people (myself included) like to try on clothes to see how they fit and how they look on so I enjoy shopping for clothes in-store. However, when it comes to other items that do not need to be personally fitted to me, I enjoy online shopping just for the pure convenience.
J.C. Penney's Sales Just A Myth? Retailer Accused Of Hiking Prices Then Discounting Them - 2 views
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JCP failed to convince customers to buy at "everyday prices" so they decided to bring sales back. To do this, they marked up prices then marked them down however people ended up paying more than the "everyday prices" and there is evidence that proves it.
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Very interesting article. It seems that JCP has changed their pricing strategy multiple times this year -- I think this strategy could possibly cause JCP to loose more customers. Marking up and down is a good strategy but not when existing customers know what specific items cost -- the worst is that JCP put higher price tags on top of low ones (as a customer I would just be offend and that alone would drive me to shop else where). I think JCP has driven customers to think they are getting ripped off rather than getting good prices and leading them to believe they are getting a bargain. I think it is a very common strategy used by retailers and I am not bothered by it but when I become fully aware of it -- that is a problem.
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It makes me sad to think that companies are "tricking" us to get our business. I understand from a "marketing mindset" and psychological perspective that companies get us to think we are getting such a great deal when prices are slashed. Just like the article also mentioned, Kohls may do this too. They always make a conscience effort to circle (in red pen) the amount of money you saved today on our shopping trip. But that number fluctuates so much based on when there is Kohl's cash, 15-20% off mobile coupons, etc. They always make you think you got an amazing deal, when next week it could be even better...or worse.
Millennials Are On the Rise - Barrons.com - 5 views
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make up the largest population cohort the U.S. has ever seen. Eighty-six million strong, it is 7% larger than the baby-boom generation
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could keep growing to 88.5 million people by 2020, owing to immigration, says
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27% of the U.S. population
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The description of the millenials are dead on, now I wonder what marketers will do with this information moving forward.
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I actually read this story the other day and really enjoyed it. I was wondering if this would end up on Diigo. Like Sarah said, who knew the millennials were 7% larger than the baby-boomer generation. It is a huge market to target along with a lot of potential - it will be very interesting to see the many different ways marketers target and cater to millennials in the future.
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It'll be interesting to see how accurately this article describes market growth as influenced by the millennials. As an entrepurener, I personal found this article to be helpful as a guide for my next interest; home ownership. It seems like the next few years could provide ample opportunity to capitalize on the growth in the housing market that is soon to come. Although the ,market is lagging right now, this is the time to buy in, when costs are low, then capitalize and lease properties once the population begins to seek homes away from mom and dad. the question is, what other industries will be influenced by this flux in the market? The article mentioned the growth of sales that will be seen in construction stores like Home Depot etc. but what about variables that are dependent of those organizations? Will the price of various resources increase? for example, wood, concrete, marble etc. Also, what will be done demographically to account for this oncoming flux in living styles? Business will need to capitalize on the innovations in living patterns that are going to develop from this flux-mainly locations. Where will these people move from? More importantly, what lifestyles are they moving to?
The Future of Customer Service: These Companies Are Getting it Right | Business on GOOD - 4 views
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This article lists some retailers that have been exceptional in their customer service. As I will be talking about Pre-purchase customer service, you can focus on that while reading what the firms are doing. How has your experience been with each of them?
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Good article! I heard about the tire-Nordstrom story and it really brought in a lot of publicity for the company. Interesting to see that those extreme customer services do not get too much abused by clients and still pay off . However I think it always depends on the company size. A small shop with excellent customer service always runs in danger of spending too much money and not getting enough word of mouth.
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The customer service these companies provide to customers is amazing. These are some of the reasons that they are successful and stand out to consumers. I agree with Angelo that I am surprised people do not take advantage of these companies. I always respect companies and prefer to go to ones with better customer service in the end.
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