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August 28, 2015

What Makes a Good Mobile Strategy? Event Recap from CONNECT Mobile Innovation Summit 2015

Amanda BoulierAnalyst Insight by Amanda Boulier - Research Analyst

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Innovation and disruption are hot topics, and perhaps nowhere more so than in mobile technology. Globally, mobile revenues are estimated to account for just 1% of total retailer revenues, but figures like this miss most of the picture. Mobile has significant spillover effect on sales through other channels and mobile is undoubtedly more efficient with regard to marketing than comparable email or paper mailing programmes. The importance of this trend is only going to grow in the years to come, so it is critical that retailers and restaurants have a plan for the mobile shift.

Developing an effective mobile strategy was the theme of CONNECT Mobile Innovation Summit 2015, held in Chicago on 18-19 August 2015. At this event, speakers, panelists and attendees from across the retail, restaurant and payment landscape exchanged insights and ideas about how to get, keep and grow consumers’ attention in the mobile space.

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August 23, 2015

Plans for Neiman Marcus after IPO Filing

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Neiman Marcus recently filed for an IPO, saying that all net income will be used to pay down debt and for operations and expansion. Speculation is that Neiman Marcus may be on the verge of building an omni-channel luxury retailer and expanding overseas, two things the company may have to do to survive. Neiman Marcus is also investing in technology, giving phones to employees to use as sales tools and investing in infrastructure.

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August 22, 2015

Ikea Testing Click-and-Collect Outlets

Ikea is testing new click-and-collect outlets in Spain. These outlets offer a limited range of goods for customers to see and test, the idea being that customers will place orders online and collect their purchase at the outlet. Most sales from the Spanish outlet are actually taking place inside the store instead of online, but many other outlets in different countries have also opened in areas with higher penetration of online sales.

Roberto-FernandezPodcast features Roberto Fernandez - Senior Research Analyst

August 17, 2015

Liberty Interactive Media Acquires Zulily

Michelle GrantAnalyst Insight by Michelle Grant - Head of Retailing Research

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On 17 August 2015, Liberty Interactive Media, which owns the homeshopping brand, QVC, announced that it would acquire internet retailer, Zulily Inc, for US$2.4 billion.  With the homeshopping channel dying, this is an attempt for Liberty Interactive Media to stay relevant for the long term.  Similar moves in the travel industry, though, indicate that this acquisition will fail in positioning Liberty Interactive for the future.

Main goal: driving sales growth

The main goal of the acquisition is to drive sales growth for Liberty Interactive Media.  According to Euromonitor International, the sales via the homeshopping channel declined by 6% in 2014 and are expected to decline by 13% over the next five years. Because the companies have different types of customers, the hope is that they’ll be able to cross sell customers and perhaps, leverage Zulily’s experience in mobile transactions for growth:

 “With the two companies under one roof, “we can expose brands to more customers,” and there will also be opportunities to introduce QVC’s customers to Zulily and vice versa, Mr. George added. The two companies also are hoping to ride the growth of shoppers who increasingly buy on mobile devices.” –Wall Street Journal

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August 15, 2015

Retail Reinvention Day 2 Recap: Changes in Technology Leads Changes in Retail

Michelle MalisonAnalyst Insight by Michelle Malison - Retailing Associate

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On the second day of Retail Reinvention 2015, conversion of payment methods, Pinterest, the evolution of consumer path to purchase, and the future of mobile wallet were key topics of discussion. The day featured multiple panel discussions engaging thought leaders from various industries. Here are summaries of a few discussions that I found most interesting.

Ahalogy: 2015 Pinterest Media Consumption Study

Bob Gilbreath, co-founder and CEO of Ahalogy, announced findings from the organization’s second annual Pinterest Media Consumption Study. Gilbreath introduced Pinterest as a retail game changer, a new form of marketing for retailers and a planning machine and search engine for consumers. Pinterest now offers both paid and earned media through two features: Promoted Pins and Buyable Pins. Promoted pins are a form of paid advertising. As native ads, they show up on users’ Pinterest feeds along with other pins. Promoted pins allow retailers to target their ads to specific groups and therefore are proven to be more effective than organic pins. Buyable pins allow users to immediately and seamlessly make purchases directly from the pin within the mobile app.

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August 14, 2015

Retail Reinvention Day 1 Recap: Consumer Experience Takes Centre Stage

Tim BarrettAnalyst Insight by Tim Barrett - Retailing Analyst

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From August 4th-5th, the Retail Reinvention conference took place at McCormick Place in downtown Chicago. The show was hosted by PYMNTS.com and ACI Universal Payments and Euromonitor was pleased to attend both days. Talks revolved around the relationship between the retail environment and consumer payments, with an underlying theme of what it means to reinvent and why retailers need to consider doing so. The host, Karen Webster, CEO of PYMTS.com, outlined in her welcoming remarks that reinvention is important because you need to see the hidden trends to stay ahead of the curve. Just because things are going well does not mean that it is not time to change.

Marcus Lemonis impresses as keynote

Authenticity and relevance were on display in the first hours of the conference thanks to the talented speaker and retail mogul, Marcus Lemonis, the host of CNBC’s The Profit. He warned retailers to be wary of thinking they know the customer better than they actually do, underlining the importance of catering to the customer’s needs and desires. People largely know how they like to shop. When retailers look to reinvention, they need to accurately assess what they are doing right and wrong in order to solve real problems. Does society really need a new way to buy milk? Catering to customers was the only winning strategy in his book because according to his philosophy, it is people, not products or spreadsheets, that really grow a business.

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August 9, 2015

¡No te pierdas nuestra presentación en CONVEX 2015!

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Nombre del evento: Convención & Exposición Retail 2015

Fecha: 16 y 17 de septiembre, 2015

Día, fecha y hora de nuestra presentación:  Miércoles 16 de septiembre de 9:15-10:00 am

Acerca del evento:  Si eres un líder o un ejecutivo del comercio minorista o pretendes serlo, ya tienes un evento internacional para retar el futuro del Retail. Se trata de la CONVEX 2015, organizada por Perú Retail es una convención que busca facilitar las oportunidades del networking y mejorar la gestión de la industria de venta al por menor. Los distintos líderes internacionales del sector estarán dispuestos a brindarte las claves para mejorar la rentabilidad en retail, nos dirán cómo gestionar y motivar adecuadamente al personal, y cómo diseñar y gestionar el punto de venta. CONVEX 2015 es el hito que marca el éxito de tu negocio. Serán dos días imperdibles, con expositores de lujo y mucho aprendizaje e intercambio de experiencias. Una oportunidad única para los amantes del Retail.

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August 6, 2015

Store Visits: Examining Online Players Moving Offline

Tim BarrettAnalyst Insight by Tim Barrett - Retailing Analyst

While internet retail is often associated with lower costs, it should not come across as a surprise that the increased level of competition in the space has driven up the cost of online marketing, a trend which is not particularly new. In light of these increased customer acquisition costs, some retailers have reverted to an older method to spread brand awareness—the brick-and-mortar outlet.  Carefully selecting the right location and keeping the selling space, inventory, and store design minimal can all reduce the costs of the brick-and-mortar investments, further increasing their relative affordability as alternative website traffic drivers.

This month, the Euromonitor retail team explored a trendy corridor of Chicago where a number of online retailers have opened bricks and mortar outlets thanks to affordable real estate in the neighbourhood. On-site inspection and conversations with the store representatives only helped reaffirm the conclusion that the focus of these stores is less on revenue generation within the store itself, but more so on marketing with the aim of driving sales to their primary channel:  their websites.

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August 5, 2015

Amazon’s Kirana Now: Same Retailer, New Channel

Shabori DasAnalyst Insight by Shabori Das - Senior Research Analyst

Amazon India in March 2015 launched Kirana Now. The new platform, which is currently only available only in Bangalore, allows consumers to buy groceries from kiranas (traditional grocery retailers) online. The application allows independent small grocers to list themselves on Amazon Kirana Now as a seller, and consumers can purchase groceries, which will be sourced from the closest kirana store by Amazon and delivered between two to four hours. This is Amazon’s second attempt to break into the largest grocery retail channel in India. However, with the upcoming online grocery retailers in India, Amazon may not succeed this time around either.

Amazon’s insistence on breaking into the channel

In March 2014, the company, launched Amazon Pickup, the Indian equivalent of its US and UK Amazon Locker. This was the first attempt made by the company to break into the kirana stores. The service is available in 10 states including Delhi, Karnataka, Maharashtra and Tamil Nadu amongst others. The service provided consumers the option to get a product purchased from Amazon.in delivered at any kirana store closest to them so that they could pick up their products at an address other than home or office. This way consumer could buy groceries from independent small grocers anytime during the day, and not necessarily had to be home to receive the delivery. The service however, was not very popular amongst consumers, as the company did not promote or publicise the channel the same, which led to low awareness amongst consumers.

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July 31, 2015

Fashion Friday: How S-Commerce is Impacting the Fashion Industry

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Recent weeks have seen a flurry of announcements from western social media giants regarding new ways for consumers to buy products directly from retailers without leaving those social platforms. Because fashion is inherently visual, sharable and has one of the highest online penetration rates for consumer goods online sales, it is important for those in the industry to keep an eye on these developments. But, with this in mind, it may be the case that the future of social commerce lies within messaging apps. Listen to the podcast for complete insights.

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Recent Posts

What Makes a Good Mobile Strategy? Event Recap from CONNECT Mobile Innovation Summit 2015

Plans for Neiman Marcus after IPO Filing

Ikea Testing Click-and-Collect Outlets

Liberty Interactive Media Acquires Zulily

Retail Reinvention Day 2 Recap: Changes in Technology Leads Changes in Retail

Retail Reinvention Day 1 Recap: Consumer Experience Takes Centre Stage

¡No te pierdas nuestra presentación en CONVEX 2015!

Store Visits: Examining Online Players Moving Offline

Amazon’s Kirana Now: Same Retailer, New Channel

Fashion Friday: How S-Commerce is Impacting the Fashion Industry