• 4 ways to understand your in-store shoppers better

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  • When it comes to customer loyalty, is the store keeping pace with online?

    In the omnichannel retail environment, where digital and physical channels are interconnected, the consumer is spoilt for choice with where, how and with whom they shop. And their expectations across these channels continue to rise.

    This has made securing customer loyalty significantly more challenging for retailers. Market competition is intense, and even a single bad experience can be enough to push regular shoppers towards competitors.

    In order to cultivate customer longevity in this highly competitive environment, the retail loyalty market has exploded. In fact, market research forecasts that loyalty management spend will surpass $4.5 billion by 2021, according to ABI research.

    But while investment is increasing, many retailers are finding their loyalty schemes are more effective in nurturing customer retention and spend online than ….

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  • IoT update: how are retailers successfully implementing connected technologies in the physical store?

    As digital-loving consumers clamour for more and more connectivity in their lives, the concept of the Internet of Things (IoT) is gathering momentum among innovative retailers. Shoppers want convenient access to personalised products, services and information, 24/7.

    In response, Juniper Research forecasts that merchants will spend $2.5 billion on IoT technologies by 2020. In fact, many retailers are already leveraging business intelligence solutions in their operations to better understand consumer behaviour and optimise the customer experience. For instance, retail traffic insights can be used to improve checkout times, store layout, and shopper-to-associate ratios.

    And as a greater number of connected technologies reach the market, new opportunities arise for retailers to enhance or reshape the customer experience. As Forbes journalist, Barbara Thau, concludes in a recent ….

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  • ShopperTrak commentary for w/c 23rd January

    ShopperTrak Retail Index – UK National Weekly:
    Change for week 4 (23rd January 2017 – 29th January 2017): +3.0%
    Change for week 4 Year-on-Year: -3.6%

    ShopperTrak Retail Index – Retail Park Weekly:
    Change for week 4 (23rd January 2017 – 29th January 2017): +0.3%
    Change for week 4 Year-on-Year: +0.7%

    Commentary

    The ShopperTrak National Retail Index is reporting an increase Week-on-Week of 3.0% and a decrease of -3.6% Year-on-Year.  The weekend showed a decrease of -4.9% Year-on-Year and the Year-to-Date trend reports -2.7% compared to the previous week. Furthermore, the figure recorded is worse than last year’s figure of -1.5%.

    Only Northern Ireland and Yorkshire Humber saw a Year-on-Year increase of +1.3% and +1.0% respectively. The region to realise the highest decrease of -5.9% was the East Midlands, ….

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  • ShopperTrak commentary for w/c 16th January

    ShopperTrak Retail Index – UK National Weekly:
    Change for week 3 (16th January 2017 – 22nd January 2017): 3.0%
    Change for week 3 Year-on-Year: -2.5% 

    ShopperTrak Retail Index – Retail Park Weekly:
    Change for week 3 (16th January 2017 – 22nd January 2017): 0.4%
    Change for week 3 Year-on-Year: 1.4%

    Commentary

    The ShopperTrak National Retail Index is reporting an increase Week-on-Week of 3.0% and a decrease of -2.5% Year-on-Year.  The weekend showed a decrease of -4.5% Year-on-Year, while the Year-to-Date trend reports -2.4% compared to the previous week. Furthermore, the figure recorded is worse than last year, -1.4%.

    Only 2 regions realised a Year-on-Year increase; Northern Ireland, of 6.2% and Yorkshire-Humber, of 0.9%. The region to see the highest decrease of -7.0% was the East Midlands, followed by ….

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  • Building the Store of the Future: 3 key insights from NRF’s BIG Show 2017

    In the fast-paced world of retail, innovation around the customer is critical to success – and nowhere are the latest innovations showcased better than at NRF’s BIG Show in New York.

    The BIG Show sets the agenda for the retail year ahead, as tech companies and retailers come together to discuss the top trends, talking points and technologies for the next twelve months. Here are ShopperTrak’s key insights from this year’s show:

    Data must drive customer understanding

    While the importance of big data is nothing new, many of the keynote sessions underlined the necessity of having a granular understanding of who the customer is, and what they want from their retail experiences – particularly when it comes to the store.

    Deloitte’s U.S. Retail and Distribution Leader, Rod Sides, revealed that less than half (47%) of consumers feel that their needs are being met when shopping in the bricks-and-mortar environment. Therefore, ….

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