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Kate King

RetailWire Discussion: Macy's Goes All Millennial - 3 views

www.retailwire.com/...macys-goes-all-millennial

mk473 Macys millennials

shared by Kate King on 14 Nov 13 - No Cached
  • Kate King on 14 Nov 13
     
    Great article to read for our guest speaker next week, Lisa Hudson
  • Sarah Wesp on 19 Nov 13
     
    I think this strategy to attract the Millennials is a great idea! With the omnichannel integration and creating a better in-store experience for the consumers, I believe this will be very beneficial for Macy's. Almost all millennials are on either a mobile or tablet device so I think the omnichannel integration will be greatly utilized by the millennials.
Sarah Wesp

IKEA's 2014 catalog lets shoppers virtually furnish a room (Video) | RetailCustomerExpe... - 2 views

www.retailcustomerexperience.com/...virtually-furnish-a-room-Video

mk473 customer experience omni-channel retailing technology

shared by Sarah Wesp on 24 Sep 13 - No Cached
  • allows shoppers to actually see how items will look inside their homes before they buy them.
    • Sarah Wesp
      Sarah Wesp on 24 Sep 13
       
      Seeing what the furniture would look like in your home before actually purchasing the item..how cool! What do you guys think?
  • scan the catalog with the AR app on a tablet or smartphone
    • Sarah Wesp
      Sarah Wesp on 24 Sep 13
       
      Creating this AR app is one of the ways IKEA is really integrating the omni-channel retailing.
  • Sarah Wesp on 24 Sep 13
     
    Be sure to watch the video in this article on how this AR app is going to work.
  • ...1 more comment...
  • Kyle Werner on 24 Sep 13
     
    IKEA is evil. Do they really have to make EVERYTHING they do fun? Consumers travel on buses to visit IKEA stores across the country, visiting one of their brick-and-mortar stores is an adventure! But now IKEA is making it fun to decorate your own room....from the comfort of your own room! This is an excellent step into the future of electronics and retailing. What a fantastic read.
  • jkayjohn on 24 Sep 13
     
    I think this is an amazing concept! Now not only have they made online shopping more fun and interactive but it is also a much more efficient way of shopping for the right piece of furniture. You no longer have to worry about taking measurements or samples to make sure the furniture matches up with the room. Instead, you can virtually place the chosen piece right in the room with accurate measurements and design and see how it looks before even buying it!
  • Sarah Jacobsma on 24 Sep 13
     
    This app seems super exciting. I love rearranging and decorating my own room and this app allows for people to physically see an idea on a screen that was originally just a vision. It is great to see how more and more companies are integrating omni-channel retailing to improve the customer experience whether it be online, in store, and mobile.
Paige Laughlin

Luxury Brands Must Develop Their Customer Experience To Survive - 4 views

www.huffingtonpost.co.uk/...ence-to-survive_n_2165351.html

mk473 customer experience

shared by Paige Laughlin on 24 Sep 13 - No Cached
  • Luxury retailers must focus on providing a rounded customer experience, rather than simply flogging goods, if they are to survive the ongoing recession.
  • brands must improve to keep their customers happy.
  • consumers want "intimacy, meaning, story, quality, provenance and a true sense of wonder",
  • ...7 more annotations...
  • New technology will be used to support this with the growth
  • mobile app
  • A personalised experience is the ultimate in luxury. You can get dressed by the styling team and understand how they see the collections being worn together; It’s like peaking behind the curtain.
  • not only a physical business but also a digital one.
  • "Shrines with apps, allowing instant exclusivity and gratification, which can be easily segmented are appealing to different demographics within a category," she said.
  • retailers have wrongly invested in technology – everyone on the shop floor has an iPad – great, but what are you doing for the customer? We believe there is no point in having an iPad when you could be there in person with the customer," she said.
  • Can luxury service really be delivered in a digital world?
  • Paige Laughlin on 24 Sep 13
     
    This article details the struggle that luxury retail stores are having with providing a "personal customer experience." Because the products are so high end, they are expecting that aspect to talk for itself; however, customers are wanting a more personalized experience than what these stores are giving them. What do you guys think about this? And also how do you feel about the technology aspect they talk about in the end?
  • ...1 more comment...
  • Lina Goens on 25 Sep 13
     
    I always expect a personalized customer service in a high end store. The store should make me feel important/special in order to create value. I also think that whether you are a VIP member or someone who stops in occasionally, it is important to treat the customers the same way. Burberry took a neat approach by incorporating the technology into their stores. (Although the store is huge for the amount of clothes actually offered.) It's a great start and I also think that technology that recognizes repeat customers would be highly effective in this environment. However I also agree when the article says "so what" to technology. These stores still heavily rely on the interaction amongst employees and customers so there is no way that technology can completely take over these high end stores.
  • Emily Prellwitz on 26 Sep 13
     
    I believe that if I am going to spend a lot of money on an item, I should get treated with high end customer service.This is a reason why a lot of top brands have personal shoppers, because they know their target customer is willing to spend a lot of money for high quality goods. It is also important for high end retailers to display the value of their goods through the value of their store, even if it means dishing out a lot of money for renovations. Burberry is on the right track with integrating technology into a store that would not normally have this kind of technology. This technology gets the customer more involved in their shopping experience instead of just browsing around the store.
  • John Cummings on 26 Sep 13
     
    These luxury brands will not die. They may not be making the revenue they desire but they will not disappear. My mother for example has more of these items them I care to know. It is people like her that will keep this industry from disappearing. However with the economy it will be difficult to find new customers. But yes making the customer experience more personable will continue to bring the already loyal customers coming back. I do believe those five things they are going to change will help. But it will not necessarily bring in new customers.
Carly Foley

Abercrombie & Fitch: To Price Promote or Not To Price Promote? | The Wiglaf Journal - 5 views

www.wiglafjournal.com/...romote-or-not-to-price-promote

mk473 price

shared by Carly Foley on 29 Oct 13 - No Cached
  • Carly Foley on 29 Oct 13
     
    This article talks about pricing techniques, and in particular promotional pricing for Abercrombie & Fitch. It talks about how the recession affected how Abercrombie priced items. It talks about the rationale of promo pricing.
  • ...2 more comments...
  • Kyle Werner on 29 Oct 13
     
    That was very risky of ANF to not consider pricing strategies when their competitors such as Hollister were lowering prices to counter the recession. I guess ANF can thank their international customers for rescuing them out of the company's decline!
  • Brock Naylor on 29 Oct 13
     
    At one point, A&F was a very 'trendy' and desirable clothesline to have. Unfortunately though, trends come and they go, often quicker than the last in this day and age. Not reconsidering their pricing strategies (especially with the lower quality and value merchandise) was a massive missed opportunity for them and thus very damaging for the company. Not only did they not account for the recession, but general interest in their apparel as well. As a trend begins to die out, consumers won't be willing to pay the traditionally higher prices for the product(s).
  • Paige Laughlin on 29 Oct 13
     
    I agree with Brock's comment. With the trendiness of Abercrombie and Fitch dwindling, the popularity of this store has gone down. As we have seen with many different trends, the less popular it becomes, the less people are willing to pay for these items. I think it would be in Abercrombie's best interest to rethink their pricing strategy, the time for that is now. Not only is the popularity diminishing for this retailer, it has also been under fire recently with the sizing issue, which has skewed customers perceptions even more.
  • Thomas Holmes on 29 Oct 13
     
    Easy to agree with Brock and Kyle, there was a missed opportunity. It seems like they were holding on too closely to their image and not worrying about how a loss of interest would really impact them. I feel like it was management that had been there and done things a certain way too long that when change was needed they were too comfortable with their current plans and feared change. If they had just seen that price promotions were beneficial and gone into it at first with their "calculated" approach then they could have had a much smaller hole to dig themselves out of. I also didn't see why, if most of the other stores were using pricing promotions to counteract the recession why they thought their image would be tarnished. If it was a uniform movement then their image would stay relatively the same.
Kate King

Finish Line puts up strong Q2 results | Chain Store Age - 6 views

www.chainstoreage.com/...sh-line-puts-strong-q2-results

mk473 Finish Line

shared by Kate King on 08 Oct 13 - No Cached
  • Kate King on 08 Oct 13
     
    Most recent operating results for FINL
  • ...2 more comments...
  • Kyle Werner on 10 Oct 13
     
    It is good to see that Finish Line is bouncing back from recent hiccups due to their e-commerce. Thirteen percent is a huge increase and showing that Finish Line has been able to come up with better tactics such as their relationship with Macy's and growing their specialty running group.
  • Lina Goens on 10 Oct 13
     
    After visiting the Finish Line, it is easy to see why they have increased Net Income. The store is a lot more modern with tablets and fancy lighting. They are playing on the experience factor we have mentioned in class. By changing the layout, they have sustained and continue to grow their brand image which I believe have led them to an increase in Net Income.
  • Brock Naylor on 15 Oct 13
     
    I think Lina hit the nail on the head with this one. The business that FL can expect to get from Macy's is fantastic, but by improving their store layout, aesthetics, and consumer experience in their own application not only strengthens their brand image, but allows them a solid foundation in which to build up from.
  • John Cummings on 15 Oct 13
     
    I also agree that the partnership with Macy's is the best thing they could do. But improving their customer service is something they need to focus on. Customer loyalty is how they make their income and the more they can improve on customer service the more loyalty and sales will occur.
Paige Laughlin

Nordstrom Pinterest 'Top Pinned Items' Come To Life In Stores (PHOTOS) - 8 views

www.huffingtonpost.com/...strom-pinterest_n_3510584.html

mk473 promotion onlinemarketing

shared by Paige Laughlin on 05 Nov 13 - No Cached
  • Paige Laughlin on 05 Nov 13
     
    This article details Nordstrom's attempt to promote its products in store by using the ideas and thoughts of their customer's from their Pinterest site.
  • ...2 more comments...
  • Lina Goens on 05 Nov 13
     
    Great way to take advantage of the omni-channel possibilities! In the short term it will be interesting to see if these marked products have an increase in sales. I think in the long run this will help enhance the overall brand image since Nordstrom is integrating their online shoppers into the brick-and-mortar facilities. Someone commented on the article and said it nicely, "Labeling your company's "Top Pinned Items" in the physical store is a clever way to give a nod of appreciation to your online followers..."
  • Brock Naylor on 05 Nov 13
     
    This is an excellent representation of omnichannel retailing at some of it's finest. As Pinterest continues to grow as a Titan in the social media and image sharing realm, Nordstrom is capitalizing on it's already strong foundation through this channel. Since many if it's consumers could probably be profiled as pinners, all they are doing is taking excellent basis for opinions and incorporating it into their layout, features products, and presence alike.
  • Kara Blakley on 05 Nov 13
     
    I think this is a GENIUS idea! So often on Pinterest, people label their clothing boards as "My Dream Closet!" By highlighting what items are pinned the most, women specifically feel like their dreams can become a reality! And so often with online shopping, we can't touch/feel/try-on the items. Now we can "pre-shop" online and actually buy the item after looking at it in a physical retail location! A normal item that once sat on the shelf can be highlighted as a "special" or "elite" item just with a simple circle logo! I love this idea - this article has actually motivated me to go to Nordstrum just so I can see the Pinterest logos on items! (And I'm also going to follow their boards online too!) A win-win for both the company and customer!
  • meganbos on 05 Nov 13
     
    This is similar to what Jcrew has donein only launching their catalg on Pinterest- they are then saving lots of printing costs and providing a direct link to purchase for their customers online
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