• When it comes to customer loyalty, is the store keeping pace with online?

    In the omnichannel retail environment, where digital and physical channels are interconnected, the consumer is spoilt for choice with where, how and with whom they shop. And their expectations across these channels continue to rise.

    This has made securing customer loyalty significantly more challenging for retailers. Market competition is intense, and even a single bad experience can be enough to push regular shoppers towards competitors.

    In order to cultivate customer longevity in this highly competitive environment, the retail loyalty market has exploded. In fact, market research forecasts that loyalty management spend will surpass $4.5 billion by 2021, according to ABI research.

    But while investment is increasing, many retailers are finding their loyalty schemes are more effective in nurturing customer retention and spend online than ….

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  • ShopperTrak commentary for w/c 13th March

    ShopperTrak Retail Index – UK National Weekly:
    Change for week 11 (13th March 2017 – 19th March 2017): +0.5%
    Change for week 11 Year-on-Year: -0.9% 

    ShopperTrak Retail Index – Retail Park Weekly:
    Change for week 11 (13th March 2017 – 19th March 2017): -0.8%
    Change for week 11 Year-on-Year: +2.5%

    Commentary

    The ShopperTrak National Retail Index is reporting an increase Week-on-Week of +0.5% and an decrease of -0.9% Year-on-Year.  The weekend showed an increase of +1.3% Year-on-Year while the Year-to-Date trend reports -2.9% compared to the previous week. Furthermore, the figure recorded is worse than last year, at -2.3 %.

    Only 2 regions saw a Year-on-Year increase; the South West & Wales of +1.5%, and the South East, of +1.3%. The Eastern region suffered the highest decrease on ….

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  • ShopperTrak commentary for w/c 6th March

    ShopperTrak Retail Index – UK National Weekly:
    Change for week 10 (6th March 2017 – 12th March 2017): +1.4%
    Change for week 10 Year-on-Year: -0.6%

    ShopperTrak Retail Index – Retail Park Weekly:
    Change for week 10 (6th March 2017 – 12th March 2017): -2.6%
    Change for week 10 Year-on-Year: +3.6%

    Commentary

    The ShopperTrak National Retail Index is reporting a decrease Week-on-Week of -0.6% and an increase of +1.4% Year-on-Year.  The weekend showed a decrease of -0.6 %Year-on-Year. The Year-to-Date trend reports -3.1% compared to the previous week. Furthermore, the figure recorded is worse than last year, -2.3 %.

    Only 4 regions saw a Year-on-Year increase, with the Yorkshire Humber region realising the highest increase of +8.6%, and the West Midlands seeing the lowest increase of +0.2%. This was followed by the ….

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  • ShopperTrak commentary for w/c 27th February

    ShopperTrak Retail Index – UK National Weekly:
    Change for week 9 (27th February 2017 – 5th March 2017): +2.7%
    Change for week 9 Year-on-Year: -4.8% 

    ShopperTrak Retail Index – Retail Park Weekly:
    Change for week 9 (27th February 2017 – 5th March 2017): +6.4%
    Change for week 9 Year-on-Year: +1.0%

    Commentary

    The ShopperTrak National Retail Index is reporting a Week-on-Week increase of +2.7% and a decrease of -4.8% Year-on-Year.  The weekend showed a decrease of -6.1% Year-on-Year, whilst the Year-to-Date trend reports -3.4% compared to the previous week. Furthermore, the figure recorded is worse than last year, of -1.8 %.

    Only the Yorkshire Humber region saw a Year-on-Year increase, of +2.7%. All other regions suffered a Year-on-Year decrease with The North West region realising the highest decrease of -6.6%, ….

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  • How can retailers understand in-store shoppers as well as they do online shoppers?

    In the world of online shopping, it’s relatively easy to track and analyse customer behaviour, as every action is digitally logged. Retailers will know who has shopped and where, how long they browsed the site, what they purchased, and whether they redeemed a marketing offer or collected loyalty points.

    Back in the physical store, however, the same shopper will browse and buy with relative anonymity. Much less is known about in-store shoppers by store associates – and this makes it much more difficult to personalise purchasing journeys.

    Retailers urgently need ways to gather the same in-depth insights online and offline, if they want to optimise the customer experience. Now is the time to stop guessing what in-store behaviour patterns look like, and start knowing how consumers shop.

    In order to understand bricks-and-mortar shoppers in greater depth, many retailers are implementing location-based analytics across their store estate. ….

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  • IoT update: how are retailers successfully implementing connected technologies in the physical store?

    As digital-loving consumers clamour for more and more connectivity in their lives, the concept of the Internet of Things (IoT) is gathering momentum among innovative retailers. Shoppers want convenient access to personalised products, services and information, 24/7.

    In response, Juniper Research forecasts that merchants will spend $2.5 billion on IoT technologies by 2020. In fact, many retailers are already leveraging business intelligence solutions in their operations to better understand consumer behaviour and optimise the customer experience. For instance, retail traffic insights can be used to improve checkout times, store layout, and shopper-to-associate ratios.

    And as a greater number of connected technologies reach the market, new opportunities arise for retailers to enhance or reshape the customer experience. As Forbes journalist, Barbara Thau, concludes in a recent ….

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