Millennials & Retail

One Segment – Different Millennials Vast majority of the articles we come across tend to focus on the similarities the millennial segment exhibits… such as mobile-centric, omniscient grasp of prices & promotions, expectation of x-channel shopping experience, social influence, buying less cars, proponents of shared economy, environment friendly, higher degree of social responsibility, et al.…

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Role VR/AR play in Retailer’s Digital Transformation

One of the most explored technology today is Virtual / Augmented Reality Both VR/AR aim to bring an immersive & interactive experience of the virtual world to the user in their own ways With VR, the user is ‘teleported’  into a virtual world wherein all of their interactions provide a ‘realistic feel’ with that fabricated environment With AR, users can interact with virtual objects in the real world around them In…

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12 Retail Facelifts

Physical Retail is not dead… …it is merely undergoing a facelift! According to PwC’s global survey, approximately 40% of consumers still make purchases in-store at least once a week, compared to just 27%  for it’s online counterpart Another research from eMarketer forecasts a significant growth of worldwide online purchase share from 5.9% in 2014 to 8.8% in 2018; yet it would…

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‘Loyally Rewarded’ – View on loyalty/reward programs (Part 1)

Loyalty/Reward Programs – Why? Acquisition vs. Retention studies say… statistically speaking the cost of acquiring new customers could be anywhere in the range of 5X – 15X vs. that of retaining existing ones – According to Bain & Co., 5% increase in customer retention can increase a company’s profitability by 75% – Gartner says that 80% of a company’s future revenue will come from…

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To beat ‘show-rooming’ effect… become a Showroom

Sounds oxymoronic right? But it is one of the numerous diversified strategies Retailers can adopt to actually beat the ‘Show-rooming’ effect (one where consumers visit physical retail stores only to purchase elsewhere online) We now know that product & in-person interactions are one of the best trump cards brick & mortar Retailers have  over their ‘e-commerce only’ counterparts… thus, it is imperative for Retailers to educate…

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