"Showrooming" is forcing brick-and-mortar retailers to use digital price tags to compete with online competitors such as Amazon. What's showrooming? It's when customers use their smartphones to compare the in-store price to what's being offered online, making it challenging to compete on price. To adjust, Bloomberg reports that retailers, such as Nebraska Furniture Mart and Kohl's, are adopting digital price labels that can be updated instantly, a strategy that also cuts the cost of deploying employees to change physical price tags daily. As this illustrates, digital technology presents retailers with not only competitive challenges, but also opportunities to increase efficiency and cut costs. Retailers stand much to gain from embracing digital business models.
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In our new blog series, Merchandise Monday, we’re going to take a look at some fun products to buy from a variety of companies and retailers.
Although Mars, Inc. may not be a household name, M&M’s chocolate certainly is. Now consumers can bring more than just the candy into their homes. Mars offers a variety of M&M-themed products through licensers available for purchase from a variety of retailers.
The Retail Merchandiser office is pretty much obsessed with dinosaurs. At least one person has a dinosaur-themed shirt on in any given week. I have a Jurassic Park mug on my desk, holding my pens. We all couldn’t shut up about the new Jurassic World movie. So, when a package from Animal Planet arrived with a bunch of dinosaur eggs to hatch, needless to say, I was more than a little excited. The eggs are called Hatch ‘Ems and there are two dinosaur series to choose from. RM hatched a Tyrannosaurus rex, Spinosaurus, Apatosaurus, two Triceratopses and a Stegosaurus.
Five years ago, the average consumer knew nothing about trading in used electronics for cash or store gift cards. Times have changed. Today the average shopper is more informed about his or her purchases than ever. And trade-in is quickly becoming a critical tool to help them get the most bang for their buck when purchasing new products.
While trade-in has traditionally been focused primarily on mobility, savvy retailers are now learning that customers appreciate the ability to trade in more than just phones. This newfound behavior of asking "how much is my old one worth" before purchasing a new product is expanding to more and more categories. So, by making a variety of device types available for trade in, retailers can increase traffic, nurture customer loyalty and pad in-store spending, too.
If you’ve ever worked in retail, you’re probably familiar with the outdated ways in which you might find out your schedule. When I worked at a clothing store in the mall, I would fill out a form that listed my availability every few weeks. If I needed to take a vacation day, I’d fill out another form. My supervisor would post the printed schedule, one that was likely put together in Excel, in a communal area so everyone could see it. And then everyone would copy his or her schedule down, again by hand. This is a time-consuming, antiquated process that costs retailers time and money that could be better spent elsewhere, which is why retailers are in desperate need of an upgrade.
Not only that, but retailers are stressed out over the recently proposed overtime legislation by the Obama Administration. In our current retail environment, salaried workers who make more than $23,660 a year cannot receive any overtime pay, even if they work insanely long hours. But the proposed rule would up that line to salaried workers making $50,440, letting workers be owed what they deserve for their hard work and long hours.
When you’re working out at the gym, the last things on your mind are how the gym merchandises and conducts its store operations. You might buy a protein bar or a new pair of running shorts, but other than that, gym members are generally oblivious to all the work that goes into running the retail side of a fitness center. 24 Hour Fitness, a leading health club throughout the United States with more than four million members, knew that it had to improve on certain factors as it expanded its operations. It needed quick and easy access to important store data without utilizing IT services, which is where Mi9 Retail came to help.
It’s all about the kids and the innovative retail experience at the brand-new, state-of-the-art Studio Xfinity in Chicago. Comcast brings together media and technology with this first-of-its-kind facility. The moment you step through the door, people are commenting on how beautiful the space is. Screens, or “Studio Spaces,” surround you, along with a bunch of demo stations to try out the latest and greatest Comcast Xfinity products.
So, there you are: sitting on your couch in your pajamas, a Netflix series blaring on your television screen, when suddenly, you get a craving for a Doritos Locos Taco and Cheesy Gordita Crunch from Taco Bell. But you can’t possibly pause your show or be bothered to put jeans on again. And now you don’t have to.
Taco Bell has officially rolled out its delivery service in 90 cities in California and in Dallas from more than 200 restaurants. It has teamed up with DoorDash, an on-demand delivery service, to provide burritos and cinnamon twists right to your front door. This is the first national partnership for the delivery company, which began in 2013 in a Stanford dorm room.
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