CART Weekly Report 8/29/19

CART Weekly Report 8/29/19

CART, Advancing Retail

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15 MIND-BLOWING STATS ABOUT CUSTOMER EXPERIENCE MANAGEMENT | CMO. Adobe

Gary’s Take: Customer experience management is a focus of 80% of companies according to Gartner. Companies that deliver on providing a great experience consistently outperform those companies who fail to provide a good experience as shoppers reward them with more spending, more visits, and greater retention over time. But to do customer experience right requires many things, from motivated associates, the right technology tools, and deep understanding of customers and why they are shopping with you.

RETAIL DIVIDE WIDENS AS SHOPPERS SEEK VALUE AND CONVENIENCE | Wall Street Journal

Gary’s Take: Those retailers that are investing heavily in online and omnichannel marketing and selling are outperforming their less advanced competitors as recent financial results from a number of retailers shows. Companies like Walmart, Target, and TJ Maxx are pulling away from Macy’s and JC Penney who have failed to make needed investments to keep pace with changing shopping behavior. But, Nordstroms offers a cautionary tale: The company has done many of the right things - reasoned new store openings, heavy investment in online and omnichannel, etc. - and yet continue to be challenged in the market.

VIDEO ANALYTICS PROVIDE CLUES ABOUT WHAT RETAIL CUSTOMERS REALLY WANT | Biz Tech Magazine

Gary’s Take: Video analytics have been around in retail for some years now but the technology is continuing to spread, enabled by the decreasing cost of digital cameras and ever increasing software capability. I think many retailers intuitively understand the power of having analytics around customer behavior in the store but it has taken a while for best practices to begin developing in various retail channels. The insights provided can power improved merchandising directly leading to increased sales and margins and are a powerful tool for category managers.

INNOVATION : ARE RETAILERS TRYING TO DO TOO MUCH? | RetailWire

Sterling’s Take: Innovation is a significant positive change — could be technological, but it could also be in team performance, financials or customer service. It comes from thinking and then doing things in a new way (vs. how we’ve already done it. Brian is right on here — keeping up with consumer adoption isn’t innovation. Merging online and offline isn’t in and of itself innovation. Having a “innovation group” isn’t actually innovation. But they’re all mediums to potentially innovate. We have lost our way as an industry. This isn’t about the technology. It’s about using technology and developing our businesses to meet the needs of human beings. The only assurance we have about the future is that it will be different. The best thing a retailer can do is to develop their teams, their culture to be one that can support change over time to meet those customer needs ever more efficiently and effectively.

WHAT WE HAVE TO SAY:

RETAIL IN THE AGE OF ‘i’:
A FRAMEWORK FOR RETAILERS AND SOLUTION PROVIDERS | Gary Hawkins

INNOVATION IS FOR DISTRIBUTION TOO | Gary Hawkins

THE RETAIL APOCALYPSE CONTINUES | Gary Hawkins

RETAILERS: HOW DO YOU EVALUATE NEW INNOVATIVE SOLUTION PROVIDERS | Gary Hawkins

SOLUTION PROVIDERS: WHAT PROBLEM ARE YOU SOLVING? | Gary Hawkins

HAPPENINGS:

UPCOMING RETAIL TOMORROW INNOVATION DAYS/EVENTS

GROCERYSHOP - September 15-18, 2019 at the Venetian in Las Vegas

MINDING THE GAPS - CGA STRATEGIC CONFERENCE 2019 - Mission Hills Country Club in Rancho Mirage, September 29-October 1, 2019

GMDC SELF-CARE SUMMIT - October 3 thru 7, 2019 in Indianapolis, IN

X/SPECS 2019 - October 15 thru 17, 2019 at the Waldorf Astoria, Orlando 

THE RETAIL REVOLUTION at PORTLAND STATE UNIVERSITY’S CENTER FOR RETAIL LEADERSHIP - Portland, Oregon - October 24, 2019 12:30-5:00pm

SPECS SHOW 2020 - The ForeFront of Physical Retail - March 15-17, 2020, Gaylord Texan, Dallas

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Quote of the Week: Innovation is the calling card of the future. 
~ Anna Eshoo


About the Author

CART is Advancing Retail by connecting the industry to innovation. Retailers, wholesalers and brands utilize CART to find, research and connect with solutions appropriate for their businesses. Solution providers use CART as a go-to-market tool that connects them directly to their target retail audience, all the way into the brick and mortar store itself. CART has unparalleled insight into what’s next in retail and shares this information regularly through multiple channels. 


Retail Verticals:  General Merchandise, Supermarket
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