Early Bird Guide to Black Friday

Since 2017 has been a year of retail reinvention and consolidation, expect intense competition for consumer wallets this holiday season, which is coming up fast. There’s no time to waste: Now is the time to finalize your Black Friday 2017 strategy because this is the most important (and profitable) time of year for online businesses.

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How To Analyze And Identify Ways To Improve Existing Retail Financial Operations

Introduction

Online retail businesses have to a lot to worry about and fight against but perhaps nothing quite screams danger as the financial aspect. Shallow pockets and thin resources, overwhelming competition from both big brand-name businesses and and smaller online retailers, declining sales and so on – these are just some of the challenges faced on a regular basis. Thus, it’s only natural to try and squeeze an extra dollar here and there out of the existing financial operations. Naturally, there are some quick fixes that turn things around but these are all short-sighted solutions. Any online retail store built on a sound financial basis knows better than this but not every business has the benefit of that insight.

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Millennials vs. Baby Boomers: Retail Sales Strategies That Appeal to Both

For decades, marketers have spent every last cent they had tailoring their retail sales strategies to appeal to Baby Boomers. Boomers, once the largest generation, have now been overtaken by Millennials, who are the largest living segment of the population. Millennials, who are roughly ages 18-36, are the generation everyone loves to hate, dismissing them as lazy, whiny, and unwilling to work. Continue reading “Millennials vs. Baby Boomers: Retail Sales Strategies That Appeal to Both”

9 Retail Sales Strategies You Can’t Be Without

In any business, strategy is often the difference between a soaring success and a futile effort to connect with the customers you crave. However, with its continuing evolution and increasing competition in recent years, the eCommerce space might be even more reliant on the strength of retail sales strategies in order to capture business.

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Spikes & Dips July 2016: State of E-commerce in the US

What is our Spikes & Dips Series?

Intelligence Node’s Spikes & Dips series tracks the retail price change of a basket of products spread across online retailers using our real-time retail analytics software. ‘Spikes & Dips’ covers the top 1000+ leading North American e-commerce retailers and is continuously monitored by proprietary market-monitoring algorithms. Intelligence Node’s algorithm processes approximately 1 Billion products daily and are taken from real-time, live data. All benchmark indexes are tracked in real-time, however, updates will be published in our monthly State of E-commerce newsletter.

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Riding the Back-To-School Wave to Retail Success

Anyone who’s been in the retail business knows how important capitalizing on the shopping wave during the back-to-school, or BTS, season is. Depending upon which expert you ask, this potential boom in sales is the 2nd, or 3rd, biggest one during a calendar year.

As summer camps draw to an end, parents start a frenzy of last-minute shopping for school, which, combined with back-to-college shopping, translates to a whopping $68 billion spent. This means that merchandising and marketing strategies, and the ever-important multi-channel shopping experience at retails chain, all need to be tweaked.

Let’s take a closer look and delve deeper into seasonal retailer and e-tailer techniques for riding the back-to-school wave, and what exactly BTS and BTC mean for retailers.

Understanding the Significance of Back-to-School Shopping

The BTS season is a little different from the boost in sales during ‘normal’ holiday seasons. In a nutshell, it’s longer than these other ‘boosted sales’ periods.

Parents may begin their research on products, prices, and promotional offers — usually online — as early as July. They compare the collected data and make their decisions by the month of August, making the purchase around the same period. Last-minute frazzled trips are usually done and dusted by September. This means that retailers have a longer window of potential sales compared to other big sales days, such as (say) Black Friday.

Products that receive a boost during the BTS shopping window include office supplies, apparel, electronics, and books. This long list of products, and the relatively longer sales window, make strategies a little more complicated during the BTS season.

Brick-And-Mortar Stores Rejoice!

As more and more e-tailers take over territory originally occupied by brick-and-mortar retail outlets, you could be forgiven for assuming that retail stores won’t be doing much business. To the contrary, though, it’s these stores that will see more traffic than their online counterparts. While parents will head to their laptops to buy devices and wearables for their kids, all other purchases will get them walking into brick-and-mortar stores.

School supplies such as notebooks, textbooks, and writing materials drive parents to stores, with kids in tow. Stores are the primary choice for parents buying writing materials and books (87%). These are followed — in terms of brick-and-mortar store demand — by shoes (80%), jewelry and accessories (64%), and clothes (64%).

Even as store-based retailers gear up for wars with e-tailers during the upcoming holiday season, they are set to receive a boost in sales from BTS parents.

It’s easy to see why: parents need to shop with their kids to accommodate their preferences, and most feel this is best done at a store, rather than online.

Tailoring Your Strategies Accordingly

Since we’ve already discussed the massive potential of this season, let’s take a look at marketing — and merchandising — strategies designed to help you achieve optimal returns.

First, you’ll need to understand that customers are primarily concerned with who offers the best deals. As a retailer, your first priority would be to think along those lines, and come up with a strategy that helps you put your brand right there. Even Apple — not a brand known for offering sales — caves in during the BTS season, offering discounted ‘student’ and ‘education’ prices.

Clothing giants such as Urban Outfitters and H&M target children from middle-school through college age with carefully planned ads. Take a closer look at textile e-tailer websites, and you’ll probably see smiling school and college kids, with huge blurbs advertising discounts up to 70%.

Take a look at your competitors, and make sure you stay ahead of the game. Build marketing strategies around the BTS shoppers, and you’ll see your sales numbers rise.

E-Commerce-Specific Strategies, Techniques, and Ideas

With so many consumers spending so much of their time online, the retail industry today — while still relying on in-store interactions — has grown to depend on big data and online transactions.

If you haven’t done so already, it’s time to embrace social media platforms like Facebook, Instagram, Pinterest, and Twitter. In fact, that last tweet-broadcasting platform now has a ‘buy’ button, letting you sell products right off your Twitter timeline. If you aren’t aware of what the ‘Twitter’ timeline is, your brand’s social media game is in need of some serious updates this BTS season.

Seeing as 41% of college-goers base their buying decisions on smartphone-based research, M-commerce is another concept that needs to be embraced in order to ride the BTC wave.

Wherever your potential customers spend their smartphone browsing time is where your brand needs to be front and center. For instance, the humor app ‘9GAG’ had 164 million visitors in December 2015 alone. Considering that most of these users are college students on their phones, this is a great place to advertise.

You can use retail analytics software providers such as Intelligence Node to help you build strategies based on big data and competitor trends.

Embracing concepts like new social media platforms and big data, and understanding the significance of a strategy tailored to buyer trends in the BTS season, you’ll be able to capitalize on the buying trends of parents scurrying to stores with school-going kids close on their heels.

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The Best Times to Use Free Shipping to Increase Online Retail Sales

For obvious reasons, consumers are naturally drawn to any way in which they can save some of their hard-earned cash. So it stands to reason that free shipping has become such a popular feature to promote eCommerce sites. In addition to the built-in appeal of giving customers the chance to cut down their purchase total, such a tactic has a tremendous impact on customer service and, in many instances, may directly lead to the formation of long-term customer relationships. However, like any marketing tool, free shipping delivers the best results when used strategically to accent your business.

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Spikes & Dips May 2016: State of E-commerce in the US

What is our Spikes & Dips Series?

Intelligence Node’s Spikes & Dips series tracks the retail price change of a basket of products spread across online retailers using our real-time retail analytics software. ‘Spikes & Dips’ covers the top 1000+ leading North American e-commerce retailers and is continuously monitored by proprietary market-monitoring algorithms. Intelligence Node’s algorithm processes approximately 750mn products daily and are taken from real-time, live data. All benchmark indexes are tracked in real-time, however, updates will be published in our monthly State of E-commerce newsletter.

Continue reading “Spikes & Dips May 2016: State of E-commerce in the US”

Spikes & Dips April 2016: State of E-commerce in the US

What is our Spikes & Dips Series?

Intelligence Node’s Spikes & Dips series tracks the retail price change of a basket of products spread across online retailers using our real-time retail analytics software. ‘Spikes & Dips’ covers the top 1000+ leading North American e-commerce retailers and is continuously monitored by proprietary market-monitoring algorithms. Intelligence Node’s algorithm processes approximately 750mn products daily and are taken from real-time, live data. All benchmark indexes are tracked in real-time, however, updates will be published in our monthly State of E-commerce newsletter.

Continue reading “Spikes & Dips April 2016: State of E-commerce in the US”

Spikes & Dips February 2016: State of E-commerce in the US

What is our Spikes & Dips Series?

Intelligence Node’s Spikes & Dips series tracks the retail price change of a basket of products spread across online retailers using our real-time retail analytics software.

‘Spikes & Dips’ covers the top 1000+ leading e-commerce retailers and is continuously monitored by proprietary market-monitoring algorithms. Intelligence Node’s algorithm processes approximately 750mn products daily and are taken from real-time, live data. All benchmark indexes are tracked in real-time, however, updates will be published in our monthly State of E-commerce newsletter. The goahttp://demo.firm.in/inode/wp-admin/post.php?post=152&action=edit#l of our Spikes and Dips series is to put online retail price movements in the context of macroeconomic factors thus enabling retailers to understand how these macroeconomic factors influence their day-to-day retail pricing strategies. Continue reading “Spikes & Dips February 2016: State of E-commerce in the US”