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Posts tagged ‘Retail’

Soon You Can Purchase On Instagram

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US-based retail brands—including Kate Spade, JackThreads, and Warby Parker—will start posting interactive photos to Instagram and allow the items to be purchased in the featured image. Each image will feature a “tap to view” callout in the lower left-hand side; tap it to reveal the name and price of the products featured in the photo (Instagram supports up to five tags). Tap a tag to open a more detailed view in another window. If you want it just click “Shop Now,” at which point you’ll be redirected to a browser view, where you can add items to your cart and check out

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Innovative Technology Allows Consumers Access to Products Worldwide

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Consumers are no longer limited to the product selection at their local store or even in their own country; Nearly sixty percent (57%) of global survey respondents have made an online purchase in the past six months from an overseas online retailer.

India is one country on the leading edge of the mobile trend. A few online retailers in India have moved from mobile first to mobile only. The shift toward mobile shopping is of course not just happening in emerging markets. In the U.S., IBM reported that mobile devices accounted for about 57% of all online shopping traffic this past Black Friday, the busiest shopping day of the year in the country, up 15% over the same period in 2014.

As technology and the retail landscape rapidly evolve, payment practices are also changing. More than half of respondents who say they shopped online during the past six months paid with a traditional credit card (53%), but roughly four-in-10 used a digital payment system such as PayPal (43%), debit card (39%) or direct debit from their bank account (38%).Cash on delivery is also popular in many other developing markets, including Nigeria (76%), the Philippines (73%), Russia (70%), United Arab Emirates (68%), Saudi Arabia (59%), Colombia (57%) and Thailand (56%). Consumers are looking overseas to purchase authentic foreign brands, often at lower prices than they can find in their home country.

Retailers To Spend $2.5 billion On IoT-Related Technologies By 2020

Retailers are planning to spend  $2.5 billion on IoT-related technologies such as Bluetooth-equipped beacons and radio frequency ID tags (RFID)devices. This is about four times more than the $670 million expected to be spent this year.

This is according to a new Juniper Research study that suggests retailers may be on the cutting edge of the IoT’s impact on businesses. The study notes that by 2020, as much as 70 percent of purchased IoT hardware won’t be consumer-centric, with the segment driven by business IoT spending pushing the IoT opportunity worldwide to $300 billion. According to Juniper Research, the IoT ‘represents the combination of devices and software systems, connected via the Internet, that produce, receive and analyse data. These systems must have the goal of improving quality of life, efficiency, create value and reduce cost.

Retailers adopting beacons and RFID tags, will have the ability to leverage IoT technology pushing relevant information to customers through their smartphones and other mobile devices, along with real-time asset tracking and pricing adjustments while improving substantial competitive advantages. Retailers such as Zara and Target are already taking advantage of the benefits offered by RFID asset tracking.

The beacon industry is expanding rapidly, offering consumers with contextually relevant information in conjunction with their smartphone or wearable will enormously enhance the in-store experience. Top retailers building an IoT ecosystem that links hardware such as beacons, RFID tags, wearables and smart consumer electronics devices with software analytics can expect to gain market advantage and truly capitalize on the opportunity.

On the other hand there is an increased risk of data to be stolen or compromised when deploying emerging technologies such as IoT. Andrew Rose, Principal Analyst of Forrester Research, says “Companies should have a security policy in place to identify targets, evolve key security control, add newer delivery mechanisms and review their security scenario frequently,”

Fashion Trucks On The Rise

Since the last decade, mobile businesses have been on the rise across America as the US economy faltered and aspiring entrepreneurs sought ways to operate businesses for less money.

Much of the rise can be traced to Roy Choi, a chef in Los Angeles who started selling Korean barbecue tacos from a truck in 2008.

Le Fashion Truck, created by Jeanine Romo and Stacey Steffe, hit the streets of Los Angeles in 2011 and is often credited with being the first successful mobile boutique there, selling local clothes and handmade jewelry. Its startup costs, according to the owners, were less than $US20,000.It features young contemporary clothing with a California style.

Mobile boutiques also have a growing presence in New York, Nashville, Houston and the Washington area, according to the American Mobile Retail Association.

Mobile boutiques

“The future of mobile retail is going to be very diverse,” said Sarah Ellison Lewis, founder and chief creative officer of Bootleg Airstream, a mobile shoe store based in Austin, Texas, that carries shoes from around the world. “It’s an amazing way to reach people in a memorable form, and it’s a sustainable business model.”

Lewis said she had lower overhead expenses than most traditional stores and reached $US100,000 in revenue in her first year.

Average startup costs for mobile boutiques, according to Steffe, who is a co-founder and president of the mobile retail association, generally run from $US20,000 to $US30,000, based on expenses for a used truck, interior and exterior upgrades and inventory. She said the average truck carries about $US2000 to $US3000 a month in overhead costs, including gas and insurance.

Romo of Le Fashion Truck, who also acts as a consultant for other mobile truck owners, said it takes mobile businesses one to two years, on average, to break even.

The success of mobile stores can produce a backlash from brick-and-mortar businesses that sometimes see mobile stores as competitors, which aren’t necessarily required to comply with the same regulations traditional businesses face.

Pros– less Startup Money needed

Challenges

Regardless of the season, parking is always an issue

Microsoft Plan To Open New Store Near Apple

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Microsoft is opening a retail store in the heart of New York City on Fifth Avenue. The software maker’s store will be a few blocks from Apple. Microsoft’s new retail location will replace an existing Fendi store and serve as the company’s first full retail store in Manhattan.

Best Search Engines For Shopping

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http://www.google.com/shopping

Shopping.com

http://www.nextag.com/

PriceGrabber

http://www.amazon.com/

Pronto

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Mobile Shopping Expected To Be A Winner This Christmas

Consumers are increasingly jumping on their touchscreen devices to purchase goods from their beds or slouched in front of TVs. A UK shopping retailer John Lewis predicts that, come Christmas Day, traffic to its website from mobile devices will overtake that from desktop computers for the first time, the UK Telegraph reported. Last year, almost 50% of traffic to its site was from mobile but this year is expected to top that, which is why they are calling this year a ‘mobile Christmas’. Shopping is gaining a much more of a social experience with people browsing, purchasing and sharing ideas with others using their mobile phones and tablets.

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