In retail, innovation is the name of the game. Increasingly, retailers are staying ahead through unique in-store experiences that inspire shoppers through social lifestyles. Many other forward-thinking retailers are changing the way we think about how we tie digital to physical in-store, by morphing product and channel focused “customer experience” to “experiential,” blazing trails using community and entertainment as their primary differentiators. This is where retail is heading – toward a beautiful fusion of exciting invention and customer-focused retail concepts.
CRMC Newsletter Feature Stories – 2014
Millennials are probably the most overanalyzed and overhyped generation in American history. I write this from the eye-rolling vantage point of a gen Xer — a member of a generation that tends to get ignored. Even so, I’ll begrudgingly admit that there’s steak behind the sizzle, even though great potential invites great skepticism. However, an analysis of data that focuses specifically on millennial values and attitudes suggests that the “cheap millennial” premise is fundamentally flawed — and quite possibly, entirely false..
There are three key ways to ensure that your sustainability efforts maintain the necessary engagement and impact that your brand, business, and our planet needs. The first area is integrated brand storytelling. Second, is employee engagement. Sustainability has real bottom-line benefit through employee attraction, retention, productivity, and satisfaction. Third, many sustainability efforts fail to earn the traction they deserve because companies are not investing enough in the feedback loop between their efforts and the people positively affected by them.
Information technology is revolutionizing products. Once composed solely of mechanical and electrical parts, products have become complex systems that combine hardware, sensors, data storage, microprocessors, software, and connectivity in myriad ways. These “smart, connected products”—made possible by vast improvements in processing power and device miniaturization and by the network benefits of ubiquitous wireless connectivity—have unleashed a new era of competition.
Marketers have long been challenged to reach consumers near the point of purchase decision, particularly when those decisions are made impulsively. With technology, media channels have proliferated dramatically but the ability to target a message to a very specific geographic region has lagged other advancements. Facebook says their geo-targeting feature will go live in a few weeks, with many micromarketing applications sure to follow. As features advance to real-time notifications, users with location tracking could dramatically change the relationship between retailers and consumers. How? Here are just a few possibilities.