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4 Steps Retailers Can Take to Market Themselves in a Recession

Retail TouchPoints

With inflation spiking, consumers are primed to be more cost conscious — and at risk of walking away without making a sale if the price of an item is higher than expected. Use OOH campaigns and in-store audio media to keep customers informed about ongoing promotions and retailer efforts to support them in a difficult time. .

Marketing 281
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Retailers: Leverage Customer Data to Navigate Lower Spending Due to Inflation

Retail TouchPoints

The latest issue is inflation, which is running at a 40-year high in the U.S., Retailers sit on massive troves of data and almost none of them use it ,” said Peter Curran, General Manager at cloud commerce app Lucidworks in an interview with Retail TouchPoints. During The Kroger Co. ’s

Consumer 281
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Product Update: Google Shopping Data is Now Daily

Wiser

Today, more retailers than ever are using Google Shopping ads to promote their products to consumers. Fierce Retail reports that over 80 percent of retailers are investing a portion of their ad spend into Google Shopping ads. . We’re excited to announce the launch of our daily price insights on Google Shopping.

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Cars, Wine, Trees — COVID-19 Proved Once and For All that You Can Sell Just About Anything Online

Retail TouchPoints

Of course, there are reasons why certain kinds of products haven’t been as quick to become ecommerce mainstays — mailing a live tree will never be as simple as shipping at T-shirt, for example. At Vroom, unit sales increased 82% YoY in fiscal year 2020 , and revenue was up $916 million from 2019. were up 80% last year, approaching $5.6

Returns 277
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Why Pricing Optimization Is Required in Online Retail

Wiser

With competitors just a click away, and comparison shopping engines making it easier than ever for consumers to find the lowest price, having that competitive intelligence on hand and taking action accordingly is a requirement. . At its core, price optimization helps retailers attain the goals that are most important to them.

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How to Forecast Demand in Retail (2020)

Retalon

Demand is an economics concept that describes the willingness of consumers to purchase a specific product at a specific price. Therefore, demand forecasting is a statistical prediction of the willingness of consumers to purchase specific products, at a specific price, in a specific time frame. Demand Forecasting Methodologies.

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Online vs. Offline Retail – Blurring the Line between Bricks and Clicks

Retalon

If you doubt the benefit of such a strategy, just consider the speed at which Amazon has started to acquire physical locations – over 500, including Wholefoods and book stores. Consumers can find the same products across the globe, and now, consumers can comparison shop online and find the lowest priced goods in seconds.