April 2, 2014 - Market research is a crucial part of a successful business venture. When you know what your customer is thinking and what drives consumer behavior, you can successfully target them and make your product a success. 6.7 billion dollars are spent on market research each year, and it’s an ever-growing business especially as technology and social media sites continue to spawn anew each day.
However, in the past, market research on shopping behavior has been very limited. For example, if a retailer or manufacturer wanted to monitor customer behavior, they would simply strive to track in-store behavior and purchases. Alternatively, companies could survey shoppers about their in-store behavior to try to understand why they bought (or didn’t buy) the products on the shelves.
Read the full story on the Retail Merchandiser blog.
April 1, 2014 - According to a survey conducted by Mooslyvania, Millennials are getting an undeserved bad reputation as consumers. The survey appears to refute common myths associated with this generation and unveils insightful data on what really motivates them in how they think, shop, buy and continue purchasing their favorite brands. Millennials – defined as anyone between the ages of 13-33 – account for nearly $1.3 trillion in consumer spending and spend the second most amount of time of any generation online – 87 percent as much as Gen X'ers.
Read more: Refuting Myths About Millennials
March 31, 2014 - Quantum Retail Technology Inc., a provider of consumer driven merchandise solutions for retailers, has announced that Kevin Davidson has joined the company as its Chief Financial Officer. Davidson brings over 20 years of financial management and corporate development experience to Quantum and will report to CEO Steve Buege.
Read more: Quantum Retail names Kevin Davidson Chief Financial Officer
Mobile Payments Are Becoming More Common in Retail. Do You Have a Mobile Plan in Place?
March 27, 2014 - Mobile payments are becoming increasingly common in retail, and major brands like Burger King are jumping on board. The fast food giant recently announced plans to begin accepting mobile payments through a smartphone app that allows customers to order on-the-go and prompts cooks to prepare food when GPS technology indicates the customer is close. Taco Bell is also planning to accommodate mobile payments. As retail giants get on board with different types of mobile payment processing, small and large businesses alike can revisit the topic to see whether it makes sense for their payment processing.
Read more: Do You Have a Mobile Plan in Place?
March 26, 2014 - Social media is entering an unusual phase in its life as a form of communication and potential business tactic. While marketers have been using social media for more than a decade and there is a growing array of diverging social media networks, its dynamics still change regularly, and what we come to learn about the field is still somewhat yet to be determined.
On the other hand, retailers have enough information about social media to take actionable measures that drive better customer engagement, improve satisfaction, increase loyalty, build purchase frequency and boost size of retail baskets. Social media serves as one of the most flexible ways to leverage classic marketing message strategies, including upselling, cross-selling and bundling for customers. Its speed and capability to create a prolific volume of communication remain unmatched. The Q4 2013 Social Media Intelligence Report from Adobe clearly demonstrates that website traffic by retail customers driven by social media use is rising across all major networks and that revenue per visit (RPV) from customers is on the rise in all networks, too.
Read the full post on the Retail Merchandiser blog
March 25, 2014 - Epic Rights, a full service, global branding, merchandising and rights management company, announced today that it has entered into a multi-year merchandise, licensing, e-commerce and digital media agreement with legendary rock band KISS. Epic Rights is joining forces with Paul Stanley and Gene Simmons to build the KISS global franchise in a highly integrated manner through a combination of touring, music sales, merchandise, licensing, social media and promotional partnerships.
Read more: KISS, Epic Rights Partner Up
March 24, 2014 - Lane Bryant hosted their first ever designer runway show last night to showcase the retailer's collaboration with Isabel & Ruben Toledo. The show took place at the iconic Seagram Building, located in New York City. Portions of both the Spring & Fall collection were shown. Models walked the runway in sheath dresses and coats adorned in Isabel's signature patterns, tunics, and expertly draped cocktail dresses. Designs were presented in black, white, hues of gold and soft grey. Pieces were color blocked and complimented with hints of patterns displayed through the entire collection.
Read more: Big Night for Lane Bryant, Isabel Toledo
March 21, 2014 - This week, Eva Mendes celebrated the launch of her Spring Collection with two events in Los Angeles. On Tuesday, March 18th, she joined fashion editors and bloggers for a party at New York & Company's new Beverly Center pop up location. The following evening, she celebrated her new Collection with NY&C customers at the New York & Company location in Los Cerritos Center.
Read more: Eva Mendes Debuts Spring Collection New York & Co. in Los Angeles
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