2017

The 2017 Omnichannel Holiday Strategy Advantage

Wiser

The stakes are high this holiday season, with Deloitte expecting cross-channel retail sales to top $1 trillion dollars this year from November to January. To succeed, omnichannel retailers and brands need to be true to their names and fully unify their selling channels. Omnichannel holiday strategy requires channels to work together. Companies might have different teams for in-store and eCommerce, but they need to be fully in sync to get ahead.

Product Manager: Turning Ideas into a SaaS Product

Cross Cap

Effectively communicating ideas to all stakeholders involved regardless of the nature of your business is crucial to creating a successful outcome, and it’s especially important when you are a product manager for a SaaS product.

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What You Should Look for in a Deli Point of Sale System

Bindo

My parents owned a deli many years ago. In the 1980’s they ran their business with electronic cash registers, a digital scale to weigh cold cuts, a calculator, pen, and paper. That was the only affordable technology available for a small retail business.

Win With Weird – 22 Unique Products That Will Help You Break Through The Clutter

Store Growers

There aren’t any secret marketing channels which your competitors know nothing about. Same for growth hacks. Most ecommerce businesses rely on the same channels to get trafficand heck, almost everybody is trying to make them work in the exact same way. This means that only those that excel at a specific channel will dominate. And that’s only 10-20% of the market. So are you really that good? Or are you just lying to yourself?

The Paper Store wins Retail Innovation Award

Retalon

The Paper Store wins the inaugural Retailer Innovation Award run by IRT. The Paper Store was selected for this award due to the technological innovation in it’s supply chain including the introduction of Retalon predictive analytics to optimize inventory management and promotions.

"What's in it for me?": Three quarters of UK shoppers say they get nothing in return for sharing their personal data with brands

Retail Technology Review

Loyalty marketing agency ICLP today reveals that 71% of British shoppers do not feel that it's worth sharing their personal data with brands, and 48% don't believe that their personal information will be treated with respect

Mobile (POS) Payments: the Future of Retail

Cegid

In order for retailers to continue to survive, they need to keep their finger on the pulse of changing consumer behavior. By the year 2020 it is estimated that nearly 2.5 million smartphones will be in circulation around the world. Millennials have never experienced a world devoid of mobile devices such as tablets and smartphones. So it comes as no surprise that mobile is one of the most vital trends for bricks and mortar stores to get on board with. Mobile Devices In-store.

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How to Improve Your Promotional Strategy Using Competitor Ads 

Wiser

Promotions are a key element of the marketing mix. Putting a strong promotional strategy in place can lead to increased customer awareness of your product or brand, and higher sales. An important aspect is the look and feel of your ads. A successful promotional strategy can bring your brand to a more targeted audience. As always, retailers are competing for the same audience and potential customers.

How to Align Markdowns with Psychological Pricing and Marketing 

Wiser

H ave you ever looked around a store and noticed that most prices end in nine? Or wondered how retailers decide if their promotion will be BOGO or 25 percent off? These pricing strategies deal with psychological pricing. That’s right, pricing is even more complex than just calculating margins and measuring price elasticity; psychological pricing is designed to appeal to a customer’s emotions. . Some psychological pricing strategies can have a bigger impact on shoppers than others.

How to Infuse Product Life Cycle Planning into Your Pricing Strategy

Wiser

Pricing and product life cycle go hand in hand. New, trendy products can garner the highest relative price, while older models often need to be discounted over time. If you’re planning a new product release or feel demand waning for products that used to be bestsellers, this blog is full of examples that aim to help retailers and brands think critically about how they can successfully leverage the relationship between product life cycle and pricing strategy. .

4 Tips to Run Better BOGO Sales

Wiser

Not all sales are created equally; there are BOGO sales, 20 percent off sales, and flash sales, to name a few. Although these are all different types of sales, they have the same main goal of ramping up your retail sales, using psychological triggers to encourage shoppers to check out, and hopefully acquiring new customers. The BOGO sale is a species of its own, with a wide array of variations.

How to Set a MAP Policy that Will Incentivize Resellers to Carry Your Products

Wiser

This is a guest article by Clement Ng, Customer Success Manager at Wiser. . Resellers are inundated with manufacturers looking to use the same sales channels to sell their products to consumers. What can you do to stand out, not only to consumers, but also to the resellers who carry and have the end responsibility to sell your products? How can you maintain a market value for your products when it feels like everyone is just in a race to the bottom?

Wiser in the News: What Will Cost More – and Less – in 2018

Wiser

Wiser was recently featured on U.S. News & World Report by contributor Susan Johnston Taylor. In her article, What Will Cost More – and Less – in 2018 , she discussed the three main categories that consumers can expect to shell out a bit more (and less) for next year. Taylor tapped Wiser CEO and retail expert, Andy Ballard, for his deep vertical knowledge. Ballard’s point of view is that cosmetics and skincare product pricing will experience a dip next year.

How to Scale the Competitive Promotional Monitoring Process

Wiser

Take a guess: what occasion is being advertised by the following promotions from various sources? “Free Shipping. No membership, just smiles.” ” “40%-50% off Prime Exclusive Men’s, Women’s, and Kid’s Clothing.” ” “Daily home deals online all week long.” ” If you said Amazon’s successful, self-generated shopping spree known as Prime Day, a mid-summer campaign now in its third year, you’re right.

Finding a Balance Between Free Shipping and Discounts

Wiser

Experienced retailers understand that shoppers have grown used to free shipping and discounts, but offering both at the same time depletes margins and brand value. There has to be a delicate balance between the two and it’s often hard to know which one will have the biggest impact without testing it out.

How to Win with In-Store Competitive Intelligence

Wiser

This is a guest article by Devon Kelly, Sr. Director of Operations at Wiser. We’ve all heard about how the rise of eCommerce is killing the traditional brick-and-mortar store. That certainly rings true for some industries and categories more than others, but on the whole 91% of all retail is still done in-store. RetailDive notes the top two reasons customers are shopping in-store as being able to see, touch, feel, and try out the items, as well as take the items home immediately.

The Ultimate Guide to Retail Promotions

Wiser

Have you ever noticed the difference in retail sale signs based on the pricing tier? Value and mid-market retailers tend to have giant red signs that take over their windows, websites, and marketing emails. Yet, higher end brands tend to stick with a small white or otherwise inconspicuous sign in the corner of their window or on their site, where you have to search to find it or otherwise know what to look out for. .

Pricing According to Buying Cycle for a Diverse Assortment

Wiser

As a retailer with a wide range of products, the consumer buying cycle varies based on the product type, cost, brand, and more. This path to purchase is completely within your control when all of these factors are taken into account and weighed accordingly. Owning this process puts you in a favorable position to be able to increase sales. . Two Extremes of the Consumer Buying Cycle . Not all products are quick buys, instead some take days or months to decide on.

6 Reasons Your Sales Are Dropping and How to Increase Retail Sales

Wiser

The moment you notice your sales dropping, you need to act fast to get to the bottom of the problem. Sales can decline for various reasons, and finding the cause may be the trickiest part. Luckily, Quad has put together a list for you with the six reasons why your sales are dropping and what to do to increase retail sales. . Poor Communication. Often sales are negatively affected by poor communication between teams.

How to Use Pricing and Promotions to Improve Customer Satisfaction

Wiser

You may say I’m odd, but my favorite part of the day is when I get to scroll through my personal email and browse the new sales and promotions sent to me from my favorite stores. Although I am only one subscriber out of thousands, today’s technology has enabled companies to send more and more personalized emails. You left a pair of shoes in your cart to think about it? You receive an email reminding you about your cart the following day.

How to Price for Long-Term Growth and Profit

Wiser

The goal for most businesses is to maximize both profit and growth. But often, these goals can contradict one another and it can be difficult to achieve profitable growth. The secret to achieving profitable growth is to price for long-term gains. . As we all know, pricing strategies are complex and need to take into consideration many factors such as cost, brand image, price elasticity of demand, and competitor pricing.

How to Get Ahead with Competitive Intelligence Data

Wiser

Retail without competitive intelligence is like running a race with a blindfold. You can’t know precisely where to go or how fast to run unless you have an understanding of your place on the track and how your opponents are doing. Competitive intelligence data delivers the insight top retailers need to avoid running in circles and inches them closer to actually winning the retail race.

What the New CJEU Ruling Means for EU Luxury Brands

Wiser

This is a guest article by  Zach Zigelbaum, Senior Account Director, EMEA at Wiser. The definition of “luxury” is coming into question in the EU, as the Court of Justice of the European Union (CJEU) ruled last week that brands have the right to restrict where their goods are sold. With its ruling, the CJEU aims to give luxury brands more control over the prestige of their brand.

[Webinar Recap] How to Protect Your Brand Image

Wiser

The competitive landscape is evolving in front of our eyes. eCommerce is projected to grow to 8 to 12 percent in 2017 , while global eCommerce is projected to grow 21.2 percent this year. Consumer expectations have changed, as they have more choices, more information at their fingertips, and can easily comparison shop.

How to Maximize Margins with the Timing and Depth of Markdowns

Wiser

In a perfect retail world, markdowns wouldn’t be necessary and every item would sell at full price within weeks of being in store. Unfortunately, we all know we don’t live in a perfect world, and we’ve all seen end of season sales, BOGO deals, and clearance racks. A challenge faced by retailers is how to maximize margins while clearing seasonal merchandise by a certain date.

Quad Assortment and Pricing Data Illuminates Fashion Trends

Wiser

The following is a contributed article by Vivian Yu, Data Analytics and Operations Intern at Quad Analytix. Retailers always claim to be selling this season’s “hottest trend,” but what exactly does this entail? How quickly do companies catch onto and adapt to trends, and how do they respond to the varying demands of their customers? Which brands make their money by latching onto the biggest thing first, and which attempt to wait until a trend is established before investing? .

Promotions and Discounts: 2017 Back-to-School Trends

Wiser

Kids are waving good-bye to summer and starting school, which means back-to-school sales are coming to an end and this year’s back-to-school trends are unraveling. Consumer spending during back-to-school 2017 sales was forecasted to increase and reach $83.6 billion. This number may now be questionable to retailers as back-to-school shoppers are delaying their purchases.

Betting on the House vs a Third Party Pricing Solution

Wiser

You’re a major retailer or direct to consumer brand and the million dollar question is: should you build an in-house pricing solution or partner with a third party provider? By this point it has become abundantly clear that being able to change your prices in real time is a make or break aspect of a holistic retail strategy.

How Retail Arrived at Black Friday 2017

Wiser

For many years now, the day after Thanksgiving has been full of door buster deals. With Black Friday 2017 just days away, it’s only natural to look back and figure out where exactly this retail holiday came from. But the advent and widespread use of eCommerce really changed the way retailers approach the holiday. Shoppers can now checkout from their couches, without having to get the family bundled up at 3am. This is certainly a boon for retailers of all sizes.

ATS 62

How to Create a Seamless Relationship Between Marketing and Merchandising

Wiser

The key to having a successful business is having the right products in the right place, at the right price, at the right time. The 4 P’s; product, placement, price, and promotions are basic components of a marketing plan. When successfully integrated, the four elements all work towards the same goals, sharing the same message in a seamless relationship. In a retail setting, marketing and merchandising teams decide on the 4 P’s.

Wiser Hires Former Evidon Exec, Mark Rudolph, As CRO

Wiser

To be the best, you’ve got to attract the best and today was no exception. Mark Rudolph, a twenty year veteran of enterprise software sales, marketing, and operations joined us as our new Chief Revenue Officer. Prior to Wiser, Mark was the Chief Operating Officer at Evidon, Inc.

How to Implement Dynamic Pricing

Wiser

It’s evident that retailers need to utilize dynamic pricing to compete successfully online, with players like Amazon dominating the space. While dynamic pricing seems intimidating, fixed pricing causes businesses to miss out on profit and potential sales. Modern day dynamic pricing uses pricing intelligence and competitive insights, along with supply and demand to automatically update pricing. It enables retailers to optimize their prices based on real-time inputs and maximize revenue.

Why In-Store Visibility Matters and How to Improve it

Wiser

This is a guest article by Rick Patsos, Manager of the Lead Generation team at Wiser. In the era of smartphones, shoppers are armed with more information than ever before. Not only are they doing research on your products before they leave their house, they are checking reviews and making comparisons at the shelf. The store has become a must-win battleground for brands. In order to outperform your rivals, you cannot leave anything up to chance.

PPC Holiday Advertising Tips & How to Profit in Q1

Wiser

This is a guest article by Tara Johnson, Lead Reporter, Retail at CPC Strategy. . As we wrap up Black Friday and Cyber Monday, retail brands might be feeling a little overwhelmed about the holiday bid increases, ad copy, or inventory but fear not – you are not alone. . Although Q4 can be the most competitive time of the year, it can also be extremely lucrative, especially for businesses who know how to elevate their advertising strategy. .

A Crash Course in Modern Psychological Pricing

Wiser

What is it about sales that make them irresistible? We have all be enticed by a sale before and bought more than we intended to or maybe something we definitely didn’t need. Even though we are deep into the retail consumer’s mindset, we all end up making purchases based on psychological pricing. These prices appeal to us emotionally, even if we don’t realize it. As retailers and brands, harnessing the power of psychological pricing is an invaluable asset. .

Guide to Omnichannel Pricing

Wiser

In the current retail landscape you have to admit that omnichannel retailers typically have a leg-up, compared to their single channel competitors. But one aspect of this unified retail experience that gets tricky is omnichannel pricing. Depending on the specific retailer, price parity or channel-based pricing may be most effective. . Shoppers have more information than ever at their fingertips.

Investigation Basics: Investigating Third-Party Online Sellers

Wiser

The following is a guest post from David Howell, director of brand protection for the online seller enforcement group at  Vorys , Sater , Seymour and Pease LLP. . . Manufacturers attempting to control distribution, including through online channels, know they must actively monitor third-party websites and marketplaces. . By keeping tabs on these channels, they can identify possible instances of the unauthorized sale of their products.