Archive for Consumer Shopper Insights
In one of the better recent articles focused on OMNI-channel retail strategy, this article from HBR really hit home for me. It outlines a research-driven process for testing several hypotheses about merits of OMNI-channel. In short, getting shoppers to buy online had a negative effect on retail profitability. However, getting online shopper to buy in-store gave a major boost to profitability. Perhaps the article is biased toward brick and mortar, but not blindly so. There are some good insights into what criteria make for more profitable channel shoppers, including a shopper’s proximity to the store. The conclusion I drew from this was that if retailers can win shoppers in any channel, go for it. But if they can get online shoppers to go in-store, they will boost margins and sales. That’s why ship-to-store is the best OMNI-channel strategy to capture this online to offline customer behavior.
In a recent article by AdAge, a variety of companies shared their approach and desire to use purchase-based data to enhance targeting of digital ads, specifically by CPG brands. Epsilon, Acxiom, Datalogix among others are referenced. Lots of talk around high-level trends, but not as much discussion around what specific data is being used, where it comes from and how marketers are using it. Devils always in the details.
I read a post from Seth Godin recently focusing on the fatal dilemma of focusing on the urgent matters often in lieu of important matters. He puts it in simple English what the perceived versus real trade off is between the two. I venture to guess that he is suggesting to focus on the important item that can impact the long-term and help avoid the urgent. Sometimes you can’t, which means that it’s a matter of time management and prioritization so we don’t focus exclusively focusing on putting out fires versus figuring out how to prevent them in the first place.
The retail industry, specifically large brick and mortar retailers, is continuing to struggle against fierce competition and changing consumer tastes. This article highlights some specific reasons why Macy’s, KOHLS, and JCPenney have suffered and have closed stores as a result. Malls continue to see traffic shortfalls, and large anchor tenants like these retailers suffer proportionately. Plus, lower pricing and availability of trendy merchandise elsewhere for retailers with faster supply chains make it hard for these big guys to compete. Troubling trend and not sure there is an end in sight. Check out the full article for some details I missed.
Here is a great article breaking down the differences and details of what makes Comscore and Quantcast unique from Google Analytics and others in the online audience measurement arena. I found the description very informative and objective. I’m a huge fan of both companies and always interested in understanding what’s going on “beneath the hood.” You can check out the full post here.