brick and mortar

You’ve got to get it right the first time

Back in the day, in the early 1900s, to be exact, Harry Gordon Selfridge of Selfridges & Co. in London is believed to have coined the phrase, “the customer is always right.” Harry was a trailblazer in the retail industry—his vision was to make shopping fun, transforming it into an experience. His department store became …

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product review statistics brands

5 Product Review Facts You Probably Didn’t Know [Infographic]

Updated June 2019 If you work for a product-focused, consumer-centric company and you aren’t measuring product reviews, you’ll want to pay attention to this infographic. Product reviews are widely used when consumers are considering a purchase. And they have a real impact on sales. 5 Current Product Review Facts Shoppers check them. 74% of Americans …

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predictive analytics

Quantifying User Experience in 2019 Means Predictive Analytics

For decades, companies have relied on transactional data to determine performance. For B2C product companies, this means point-of sale data that verifies the revenue generated from the various online and brick & mortar channels. However, it’s like looking in the rear view mirror while driving. Point-of-sale data is what happened and doesn’t record what is …

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Why Product Reviews Matter in 2019

Why Product Reviews Matter More Than Ever in 2019

As has been often stated, 82% of consumers trust product reviews in the purchasing cycle (Pew). Their trust is second only to friends and family, by a single percentage point. That alone should tell you why product reviews matter. But let’s dive a little deeper into their importance to different stakeholders. To Consumers As word-of-mouth …

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Retail Salespeople

These Two Groups Amount to Your Most Powerful Sales Force

According to a McKinsey survey, more than 25% of a company’s total revenue and profits come from the launch of new products. The same research also shows that more than 50% of all product launches fail to hit their business targets. That’s a big problem. And in today’s world where we are constantly over-saturated with …

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2017 Retail Store Closures

Macy’s to CVS: Impressive List of 20 Retail Stores Closing in 2016-2017

Update: See a timeline of retail store closures from 2016 to the first five weeks of 2018. Are retail stores going extinct? It’s beginning to look that way due to mass store closing announcements in the last six months. Here are the latest to join the list of retail stores closing in 2016 and 2017. 20 …

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target product review omnichannel

REI, Target Incorporate Consumer Product Reviews in Omnichannel Retailing Strategy

Consumer Reviews a Main Reason for Omni-Channel Shopping The need for product reviews when shopping only online is fairly obvious. Obscurity runs rampant when a product can’t be seen and felt. Size, material and quality can be hard to ascertain based on photos and a manufacturer’s description alone. Consumer reviews, therefore, become the crux of …

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webrooming

“Webrooming” Means Revenue for Brick & Mortar Retailers

Like many people, I start most of my purchases online, webrooming. Webrooming is the process of using the internet to become more educated about a product before making a purchase. Typically, consumers will look at multiple websites, reviews, blog posts or forums to determine which product best fits their needs. Once the product has been …

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