Channel expansion can quickly lead to customer disappointment, poor reviews and high returns if incomplete and/or inaccurate information floods the market. For channel expansion to be successful, CPG brands need to put product data at the center of their omnichannel strategy to drive revenue growth and customer engagement.
As shoppers are back in stores, retailers now need to determine which COVID innovations they will keep and how those measures will mature over the long term. This will help maximize the value of COVID innovations, bringing the benefits of digital to brick-and-mortar and scaling capabilities to accommodate long-term needs.
UPS has acquired Texas-based startup Delivery Solutions, a platform that offers multi-carrier, same-day delivery services with an impressive client roster across categories that includes nameplates like Abercrombie & Fitch, Giant Eagle, Office Depot and Sephora. Terms of the deal were not disclosed.
With heady revenue predictions for retail media north of $100 billion, it’s not surprising to see a surge of retailers opening advertising shops in attempts to capture share. But we’re still in the early days, with behemoths scooping up most of the brand spend. Here are six relationship and revenue-building strategies for retailers to consider.
Do you want a latte with that toy your kid didn’t like? Target said it is offering curbside returns in select markets starting this fall, as well as the opportunity to grab a Starbucks beverage while you’re at it. The red target retailer said customers can use the Target app to set up a curbside return and/or grab a caffeinated drink.
How can retailers and CPG brands ensure successful collaboration to boost profits, protect margins and adapt to the digital landscape? Use these best practices in agreement lifecycle management to create an ecosystem based on trust and ongoing communication.
A unified commerce strategy goes a step further than omnichannel, delivering increased agility, personalization and flexibility by integrating all aspects of commerce and connecting back-end and front-end operations into a single cohesive system. Everything is brought together to enable a personalized experience across touchpoints.
In a bid to grab more last-minute shoppers looking for convenience, J.C. Penney and Shoe Carnival have partnered with DoorDash to offer same-day delivery of online orders. DoorDash, Instacart, Postmates and Uber, initially growing through grocery and restaurant, have been expanding aggressively into general retail.
While it’s not surprising that online purchases have increased during the pandemic, 25% of shoppers made big-ticket purchases without ever entering a store. Mobile usage throughout the purchase journey is also up significantly, with 76% of consumers using mobile devices to research products and make purchases.
With the anticipation of lower foot traffic in stores coupled with inventory concerns, prioritizing your ecommerce channel from a planning perspective, even at the intentional detriment of having lower stock levels in stores, may save sales during this peak holiday shopping period. And omnichannel is no longer an option.