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Omnichannel / Cross-Channel Strategies

Cross-Channel Strategies offers readers an inside look at the successful cross-channel promotions, campaigns and programs employed by industry leaders. Retailers across industry segments and regions are adopting unique and innovative approaches to reaching today’s cross-channel consumers. Subscribe to the feed and stay in touch with the latest retail happenings.

Data-Driven Personalization Drives Advanced Pricing Strategies

FEAT Pricing imageAt the height of the Great Recession in 2008, consumers became more price-conscious, focusing first and foremost on getting the most value for their dollar.

Despite a more positive economic outlook today, shoppers are still looking for the best deal. Retail Systems Research (RSR) confirmed this point in a 2014 survey of more than 5,000 U.S. consumers: Many consumers (41%) just enjoy the thrill of finding the best deals.

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SHOEme CEO Shares Company Goals For 2015

Roger Hardy is infatuated by all things retail. More specifically, the Founder of Hardy Capital Partners is a retail guru of sorts who strives to entrench himself in businesses that have innovative strategies and strong growth potential.

Also the Founder and former CEO of Coastal Contacts Inc., Hardy helped breed the business, which turned into Canada’s largest e-Commerce company. In 2012, the company surpassed $1 billion in cumulative sales. Essilor International went on to acquire Coastal Contacts in August 2014.

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Yahoo Exec Discusses New Omnichannel Advertising Trends

The customer journey is becoming more complex. Although the researching, browsing and consideration phases of the buying process are still present, consumers are now venturing across multiple devices during their unique shopping journeys. As a result, retailers are challenged to truly understand customer preferences and create tailored and memorable campaigns.

In the below Q&A, Dave Cleary, Vice President and Industry Lead for Retail at Yahoo, will share best practices for crafting an omnichannel advertising strategy that resonates with savvy shoppers.

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Insights From The 2015 NRF BIG Show

More than 32,000 retail executives trekked through the blistering cold to attend the National Retail Federation’s annual BIG Show in New York City.

Despite the harsh winter weather, morale was incredibly positive and the entire Javits Center was buzzing with activity. The Retail TouchPoints team was at the center of the action, attending sessions, and discussing trends and best practices for 2015.

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Build-A-Bear Workshop Taps TXT Retail To Support Global Growth

Build-A-Bear Workshop is implementing the TXT Retail Planning solution to support and accelerate its growth worldwide. The retailer will use the TXT platform to help optimize merchandise, store, pre- and in-season planning across all channels.

Beyond having a growing e-Commerce business and company-owned stores in the U.S., Puerto Rico, Canada, UK and Ireland, Build-A-Bear Workshop also has franchise stores in Europe, Asia, Australia, Africa and Mexico. With up to 400 stores worldwide, the retailer required a solution to support this rapid growth. Using TXT Retail Planning, the retailer will be able to manage end-to-end planning within a single platform. 

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Cisco Research: Hyper-Relevance Is Key To Winning Digital Shoppers

The modern, digital consumer expects a rich retail experience that provides value and convenience across all channels. To dive deeper into these shopper preferences and identify the potential value of the Internet of Things (IoT) and Internet of Everything (IoE), Cisco surveyed 1,240 U.S. and UK consumers. The research is part of an ongoing global study that will accumulate responses from 6,000 consumers across 10 countries. 

By embracing mobile marketing tools and technologies, retailers have the opportunity to create richer and more contextual experiences, according to the report, titled: Winning The New Digital Consumer With Hyper-Relevance.

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Demandware Acquires Tomax For $75 Million

demandware logoDemandware made ripples on the NRF BIG Show floor by announcing its acquisition of POS and store operations solution provider Tomax. Demandware will pay $75 million for the company: $60 million in cash and $15 million in contingent retention-based payments.

By combining enterprise-class POS solutions from Tomax with its cloud platform, Demandware is aiming to create a unified commerce platform that empowers retailers to create a seamless experience across all channels. The acquisition is expected to close by the end of this month.

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Pitney Bowes Implements New Brand Strategy

pitney bowes new logoPitney Bowes has unveiled a new brand strategy and identity designed to align with its business transformation vision outlined in May 2013. The company also has developed a new logo and re-designed its web site, which touts enhanced content and an improved user experience. 

“We are not the same company we were several years ago,” said Marc Lautenbach, President and CEO of Pitney Bowes. “We have expanded our business into high growth markets, including digital commerce and software, while at the same time continuing to innovate in our core mailing and shipping businesses. Our new brand strategy and identity not only reflect who we are today, but also where we are going in the future.”

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IBM Study: Consumers Want Inventory Visibility

IBM studyUnveiled at the 2015 NRF BIG Show, the IBM Institute For Business Value study found that consumers are looking for better inventory visibility and more personalized offers. The research featured data from more than 110,000 consumers in 19 countries, collected over four years.

As shoppers spend more time researching product availability before they head out to a store, they have become less tolerant of out-of-stock (OOS) scenarios. As many as 66% said that it is important to confirm an item is available before entering the store. And when presented with an OOS in-store, 46% of shoppers expect store associates armed with mobile devices to rectify the problem.

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Execs From Macy’s, Lowe’s And The Limited Dissect Omnichannel Strategies

“Omnichannel” has been a buzzword thrown around the retail industry and at the NRF BIG Show a lot in recent years, in fact so much that some execs tried to refrain from using the term this year. However, the concept is so vital to improving the customer-retailer relationship that it remains a prominent goal for retailers to achieve in 2015.

During the 2015 BIG Show, Tom Cole, Partner at Kurt Salmon, focused on omnichannel as the moderator of  a panel discussion titled: Optimizing Omni-Channel: Lessons and Insights from Industry Leaders. Panelists included: Diane Ellis, President and CEO of The Limited; R.B. Harrison, Chief Omnichannel Officer at Macy's; and Brent Kirby, Chief Omnichannel Officer at Lowe's. Discussions centered around the definition of omnichannel; the industry-wide shift toward omnichannel; and the strategies taken to improve the customer experience.

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Navigating The Omnichannel Purchase Path

multichannelVarious research studies have indicated that consumers who leverage several channels during the browsing and buying journey are more profitable for retailers. Executives from Cole Haan and Staples verified this hypothesis during a session at the 2015 NRF BIG Show.

“We’ve seen the economics at play, and we can verify that the customers who engage with us through our wholesale partners, in our stores and online are nearly twice as profitable,” said Kyle Gallary, VP of Corporate Strategy and Digital Commerce at Cole Haan. “So we’re thinking about how to bring commerce as well as our content and brand point-of-view to them across all these different channels as seamlessly as possible.”

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Chemmart Pharmacy Triples Order Size With Oracle Commerce

ChemmartAfter launching a new e-Commerce site built on Oracle CommerceChemmart Pharmacy has tripled average order size and reported an increase in higher-value and non-prescription product purchases, according to an Oracle Retail press release.

When planning the Chemmart.com.au site, Australia-based Chemmart focused on the goal of maintaining and improving its localized focus. The site launched in April 2014.

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Academy Sports Implements Oracle Retail

Screen Shot 2015-01-14 at 3.23.21 PMOutdoor retailer Academy Sports + Outdoors announced the implementation of Oracle Retail solutions during NRF 2015. Operating more than 185 stores in 15 states, Academy has tapped Oracle Retail to help with continued expansion.

During a two-year implementation project timeline, Academy plans to implement a number of Oracle Retail solutions, including: Oracle Retail Merchandising System, Oracle Retail Price Management, Oracle Retail Sales Audit, Oracle Retail Invoice Matching, Oracle Retail Demand Forecasting, Oracle Retail Store Inventory Management, and Oracle Retail Allocation.

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Deloitte Releases Global Powers Of Retailing Report

shopping mallIn conjunction with the NRF BIG Show, Deloitte Touche Tohmatsu Limited (DTTL) has released its 2015 Global Powers Of Retailing, Embracing Innovation report.

Among the key findings, the report revealed that the top 250 retailers generated combined revenue of $4.4 trillion in 2013. The retailers were analyzed based on financial performance, geographic region, product sector and e-Commerce activity.

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