Mad Mobile Insights
November 16, 2017
For many retailers, as with businesses in a number of other industries, a disproportionately large amount of revenues comes from a small number of customers. The Pareto Principle, more commonly referred to as the 80/20 rule, tells us that as many as 80% of a business’ sales are frequently derived from as few as 20% of its customers. This means that neglecting that small group of key customers can have catastrophic consequences for the business. It also means that having a narrow focus on the right customers can yield great results will well-focused efforts.
The impact of online shopping on brick-and-mortar retailing is not just lost sales — after all, 90% of all retail sales transactions still happen in a physical store. Equally impactful is the extent to which the online experience has radically changed consumer expectations of what shopping should be like.
Having got accustomed to the ease, personalization and (by and large) fun of buying online, today’s digital shoppers now expect to find something similar in a real-life store. Retailers must find new ways of engaging with these digital consumers in old style analog stores, many of which have changed little in 20 years.
April 12, 2017
Despite expectations that the first “digitally native” generation would want to shop online, a new study released today by IBM (NYSE: IBM) and the National Retail Federation found that almost all members of Generation Z prefer to shop in bricks-and-mortar stores. With the global Gen Z population set to reach 2.6 billion by 2020, retailers need to create more interactive engagement around their brands to serve the “always on,” mobile-focused, high-spending demographic, according to the study.
April 5, 2017
In her 2009 book, Watching the English, anthropologist, Kate Fox describes the culture of shopping in England (and indeed across the UK) as beset by inhibitive, behavioural quirks.
February 27, 2017
While the retail industry comes to terms with its need to innovate, some brands are finding that great aspirations aren’t all that matters.
February 24, 2017
Consumers and retailers alike have been anticipating the rise of mobile point-of-sale solutions, but adoption has consistently been behind the expected pace.
February 22, 2017
Customers want omnichannel retail experiences. The more important question is whether or not retailers want to give it to them. In particular, some retailers remain hesitant that omnichannel is worth the investment, and that it makes any difference in their bottom-line.
February 17, 2017
As retailers work to prioritize their spending and mobile development in stores, they do so with a focus on addressing the most pressing needs of their consumers. Certain in-store technologies may have a more pressing application in niche retail markets, but general trends have shown that most consumers look for the same things when entering most brick-and-mortar stores.
February 13, 2017
If your company offers buy-online, pickup-in-store, that’s a great first step toward building a winning omnichannel strategy. But according to a new report, the odds are high that your company’s success with this order fulfillment method has plenty of room for improvement.
February 10, 2017
All the conversation around omnichannel selling has obscured a tough reality about the way retailers build those retail strategies. Omnichannel consists of multiple channels allowing the consumer experience to choose its own adventure.
Ready to mobilize? Get the best in mobile news.
© 2017 Mad Mobile