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How Your Brick-and-Mortar Retail Store Can Survive the Online Retail Wave
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There’s no doubt that online sales are growing. In fact, at 16%, online retail sales growth is swiftly outpacing in-store sales growth, which stands at 3.4%. But before you close up shop, consider the other side of this story: Most of that growth is attributed to brick-and-mortar retailers adding online sales to their mix. Plus, when it comes to total sales, brick-and-mortar stores lead the way. In 2017, in-store sales increased by $152.7 billion, while ecommerce and online sales increased by only $62.5 billion.
So, while the Amazon effect is very real, it’s not as scary as it seems. But that doesn’t mean you can ignore the fact that digital is woven into the daily lives of your customers, or that many of them enjoy the ease and convenience of shopping for some of their favorite items from the comfort of their own couch.
What it does mean is that if you want your customers to continue visiting your brick-and-mortar store, you’ll need to make a few changes. Continue reading
- Affluent Investors: Big Emotions and Purchase Intent Leave a reply
- The Financial and Emotional Upside of Marketing to Caregivers Leave a reply
- Financial Planning Games: Financial Advisors Compete Head-to-head with Planning Websites Leave a reply
- How to Optimize Go-to-market Strategies Quickly and Efficiently Leave a reply
- My Mom, a Caregiver: Portrait of an Overlooked Hero Leave a reply
- Common Traps of Top-performing Customer Experience Programs Leave a reply
- Investing Is Not a “One Emotion” Sport Leave a reply
- Building Effective Apps and Websites for Advisors Leave a reply
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Consumer & Retail RSS FeedGet via email
How Your Brick-and-Mortar Retail Store Can Survive the Online Retail Wave
There’s no doubt that online sales are growing. In fact, at 16%, online retail sales growth is swiftly outpacing in-store sales growth, which stands at 3.4%. But before you close up shop, consider the other side of this story: Most … Continue reading
How to Optimize Go-to-market Strategies Quickly and Efficiently
Lessons from the Consumer Packaged Goods Industry The telecom industry has always been innovative, but the innovation has been mostly incremental. Over the past century, we had telegraphs, then wired telephones, then wireless phones, then cell phones, and now we … Continue reading
Making VR a Market Research Reality
Virtual Reality Is More Than Fun and Games Over the past four years, a flurry of product introductions has created significant buzz around the area of virtual reality (VR), and much of the hype is well deserved. Users confirm that … Continue reading
Energy RSS FeedGet via email
Three Things Utilities Can Do to Delight Their Customers
Insights Powered by Cogent Reports™ This article is not about building the fundamentals for strong customer engagement: operational excellence, a strong brand and value-added product offerings. Instead, it’s about the moments that catch customers off guard—in a good way—and how … Continue reading
How to Manage Utility Net Promoter Score Performance
Insights Powered by Cogent Reports™ “And when you speak of me, speak well.” Bull Durham As utilities seek to evolve their customer management performance goals beyond traditional customer satisfaction metrics, utilities are evaluating updated measures and management approaches that … Continue reading
Three Principles of Effective Innovation for Utilities
New products and technologies are changing how customers interact with their energy provider and have opened up opportunities to offer additional products and services designed to drive engagement, trust and revenue. The utility of the future will need to engage … Continue reading
Financial Services RSS FeedGet via email
Affluent Investors: Big Emotions and Purchase Intent
Insights Powered by Cogent Reports™ Ready-to-act Investors Reacted to Positive Market Environment in Q3 2018No one appreciates being told that they “are overreacting,” especially in the midst of expressing a big emotion. On the contrary, having one’s feelings … Continue reading
Financial Planning Games: Financial Advisors Compete Head-to-head with Planning Websites
Insights Powered by Cogent Reports™ My firm’s CEO, Melissa Sauter, lives by the motto, “fail to plan, plan to fail,” and encourages her employees to do so as well. Based on life’s often harsh lessons around preparation, “fail to … Continue reading
Common Traps of Top-performing Customer Experience Programs
You’ve achieved your customer experience (CX) goals! Congratulations! … Now what? When our clients’ organizations commit to their CX measurement goals (CSAT, NPS), internalize the key drivers of performance improvement and integrate them with operational priorities, they often succeed in … Continue reading
Healthcare RSS FeedGet via email
The Financial and Emotional Upside of Marketing to Caregivers
Healthcare marketers may be talking to the people who use their products—but are they talking to the people who buy their products? It’s an important distinction, and in many cases, these two stakeholders may not be the same.In a recent … Continue reading
My Mom, a Caregiver: Portrait of an Overlooked Hero
How the Healthcare Industry Is Failing 29% of the US Population If you’re like me, you have firsthand experience watching someone you love care for the health of another person. I watched my mother care for her husband of 50 … Continue reading
Will Uber Health and Lyft Concierge Change Healthcare?
This year Uber and Lyft formally entered the healthcare market to offer rideshare services to nonemergency patients for transportation to scheduled doctor appointments. Patient no-shows are a prevalent problem in the US, with an estimated 3.6 million Americans reportedly missing … Continue reading
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New Research: Pharmaceutical Companies are Overlooking a Key Audience
I never used to pay attention to anything in the healthcare industry. As someone young and healthy with no medical conditions, I rarely went to the doctor and ignored drug commercials. That all changed when I met my husband. After … Continue reading
Measuring Physician Relationships in a Changing Pharma Environment
The world is always changing, and the pharmaceutical industry is no exception. The Way Things WereCustomer experience research in pharma used to be heavily centered on sales representative performance because they were the “face” of the pharma company and the primary … Continue reading
Doctor’s Orders: Why Patient Engagement Matters
Ensuring that patients understand, accept and follow recommended treatment plans is the first step towards the best possible outcome—medically for the patient and financially for the healthcare delivery system. Similarly, physicians are in the best position to individualize this treatment … Continue reading
Technology RSS FeedGet via email
Making VR a Market Research Reality
Virtual Reality Is More Than Fun and Games Over the past four years, a flurry of product introductions has created significant buzz around the area of virtual reality (VR), and much of the hype is well deserved. Users confirm that … Continue reading
Will Uber Health and Lyft Concierge Change Healthcare?
This year Uber and Lyft formally entered the healthcare market to offer rideshare services to nonemergency patients for transportation to scheduled doctor appointments. Patient no-shows are a prevalent problem in the US, with an estimated 3.6 million Americans reportedly missing … Continue reading
Amazon Is At It Again: Disrupting Healthcare and Pharma
Amazon already has a deep hook in the book, retail, delivery service, music, video, restaurant and even grocery space. It looks like healthcare is its next big target. Healthcare is a broad arena tangled in complexities. Most consumers struggle with … Continue reading
Telecommunications RSS Feed Get via email
How to Optimize Go-to-market Strategies Quickly and Efficiently
Lessons from the Consumer Packaged Goods Industry The telecom industry has always been innovative, but the innovation has been mostly incremental. Over the past century, we had telegraphs, then wired telephones, then wireless phones, then cell phones, and now we … Continue reading
Measuring Sponsorship Value in a Changing Digital Landscape
It’s been three-plus years since I wrote an article on measuring the value of sponsorships, and to this day I still get regular emails and calls about it. Years ago I worked for a large, global CPG company that plowed … Continue reading
Death of Net Neutrality Is Not Necessarily a Good Thing for ISPs
New Market Strategies study reveals consumer attitudes on “fast” and “slow” lanes Many industries are closely watching the future of net neutrality. Just last month, the Senate voted to preserve net neutrality, blocking a Federal Communications Commission plan to undo rules … Continue reading