As far as price optimization has come, there is still a long way to go. At Retalix’s recently held user conference, Lyle Walker, VP of marketing for KSS Retail, reminded RSR that sometimes the basics need a refresh. What do you think are the biggest fallacies around traditional pricing strategies?
At a special meeting of the Cross-Channel Retail Consortium held before the Shop.org event, one question that was raised drew a surprising answer from the retail participants. Is the online shopping experience catching up to the in-store shopping experience?
What’s different about mobile vs. online retail is the visibility that stores have into the effect mobile has on shopping behavior. Online shopping has little direct effect on store operations, whereas mobile is often an at-the-shelf activity. How can in-store employees become part of a personalized selling/service environment using mobile technology without crossing a privacy line?
The clear consensus at the RIS News’ Executive Summit event was to make your existing e-commerce site mobile-friendly as soon as possible. The good news is that it’s relatively cheap to experiment and play around with the front-end while doing the heavy lifting on the back-end. What will likely be the biggest challenges as e-commerce strategies are tied to m-commerce?
At an executive summit on cross-channel recently, Nikki Baird asked a colleague if he believed that there is an ROI to be had around customer passion. What’s the closest a retailer can get to measuring ROI around customer satisfaction? Is measurement necessary?
Assigning labor budgets based on payroll as a percent of sales is bad and should be reconsidered. So what should be used instead? What do you see as the pros and cons of basing labor budgets on traffic counts rather than sales?
“I heard once that Twitter is about discovery and Facebook about connections. I think, sort of. Twitter is conversations too.” “Twitter combines the power of curated content by people you trust or like, with an opportunity to skim whatever you want.” What do you see as the benefits as well as the shortcomings of Twitter for retailers and related businesses?
It’s very tempting to try to declare that 2010 will be the year of the mobile consumer. However, 2010 may see the real beginning of something bigger, and that is “transparent retailing.” In what areas do you see transparency becoming more critical for retailers and brands in 2010?
The time has come to talk about something that has been increasing in buzz in the general tech community, because of the potential to apply it to retail. Augmented reality: the real-time overlay of digital information over an image of the physical world. Will the arrival of “augmented reality” technologies transform the retail shopping experience?
While economic conditions have forced retailers to slash inventories as quickly as possible, localization has caused them to rethink what the “right” level of inventory is to begin with. Does the push toward inventory discipline work counter to localization efforts?
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