martes, 3 de febrero de 2015

Will 'Name-Your-Own-Price' Become The Norm?

In the current omnichannel climate, retailers are working to create seamless experiences across all touch points. Simultaneously, retailers are focusing on developing more compelling and personalized assortments, offers and prices across all channels. Both initiatives will help retail organizations stand out against competitors, while satisfying today's demanding shoppers.
Consumers are becoming more demanding, and are expecting more from their favorite brands and retailers. 

For example, the average online shopping cart abandonment rate is 68% because consumers experience issues with checkout (35%) and believe the registration process is too complex (38%).
The winter holiday season has wrapped up, but retailers are knee deep with gift returns, year-end inventory and planning. E-Commerce competition is heating up, pressing merchants to innovate, adapt and optimize their digital marketing mix. Search, social, email and affiliate are all popular marketing tactics — but there is another highly effective method of driving traffic and sales you may be overlooking.
Despite a myriad of research studies pointing to the importance of personalization, the majority (74%) of online retailers still promote irrelevant items to shoppers via email, according to OrderDynamics research. Some retailers (33%) don’t even sufficiently follow up with consumers after they sign up for the brand mailing list.
To drive product awareness and sales, brands and manufacturers must share relevant inventory with retailer partners. However, retailers sometimes do not have the most accurate or up-to-date data, which can potentially hinder sales.
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