High-Impact Consumer Path-to-Purchase Strategies in Apparel Retail

Location awareness and messaging along a consumer’s path to purchase can make a big impact for Apparel retailers in building loyalty and margins but more than 60% of apparel & accessories retailers do not currently integrate data from customer analytics to execute the myriad customer touchpoints and as a result are not able to gain relevant insights about their customers. Download this new EKN Research report to gain insights into business challenges, capabilities and technology enablers that support location awareness and messaging at a product and customer-level in apparel & accessories retail. Download Full...

Un-Masking the Phantom Customer in Stores: A Grocery & General Merchandise Perspective

In-Store location-based promotions are the next big tool for grocery and general merchandise retailers with over 90% of the industry rolling them out in the next 12-24 months. Several steps are required to realize this strategy but the grocery industry has largely eliminated its’ ‘laggard’ label and is innovating in new and exciting ways to relate and interact with the customers. Download this industry impact document to gain insights into business challenges, capabilities and technology enablers that support location awareness and messaging at a product and customer-level in grocery and general merchandise retail. Download Full...

Hospitality Leads The Way In Location-Based Customer Engagement

EKN’s January 2015 survey of 90 US-based hospitality companies reveals that implementing in-location guest engagement strategies is leading to positive financial gains for more than 8 in 10 hospitality companies. Download this short report to explore and understand how hospitality companies are way ahead of their retail brethren in terms of in-location contextual engagement, their key investment areas, capabilities and challenges. Download Full...

Customer Context Power – A Success Imperative For Every Retailer

Moving beyond just customer marketing to leveraging the power of ‘context with relevant and timely brand, product, pricing or loyalty messaging that fosters informed shopping decisions, deeper engagement and beneficial long-term relationships. Download this short report to understand how in-store engagement using contextual messaging drives higher customer experience returns for retailers and retailers’ top in-store engagement investment areas. Download Full...

Omni-Channel Merchandising

Merchandising, as a concept is relatively straightforward: Determine what to sell to whom at what price; forecast demand and procure accordingly; distribute stock optimally to ensure maximum demand fulfillment; organize, display and promote merchandise to increase appeal to customers. That is not to suggest executing an effective merchandising strategy is easy. In fact, in a retailing environment where consumers expect a seamless, singular retail experience across all of a retailer’s channels, the art and science of merchandising requires a new focus and new capabilities. Retailers have traditionally been rewarded for having a product-centric merchandising strategy focused on maximizing sales within a channel. Today’s retailing environment requires them to have a more integrated approach, focusing on maximizing lifetime value of a customer relationship, independent of channel. The impact on a retailer’s merchandising function is far-reaching. All processes across the merchandising value chain – planning, assortments, allocation, pricing and promotions – need to operate at a higher level of maturity. Doing so requires a focus on 3 key areas of capability: Integration: Merchandising business processes and technology systems need to integrate well within the merchandising value chain and across other enterprise systems such as Enterprise Resource Planning (ERP), Supply Chain and Marketing. Unification: Unification speaks to the need for retailers to bring together disparate teams and planning processes into a unified team and planning process that is focused on merchandising around customer segments. Insights: Insights from analysis of customer and enterprise data is critical to improving merchandising decisions. Beyond data integration and technology related challenges retailers are faced with fostering a data-driven culture in a function that has traditionally been intuition-driven....

EKN Custom Research Series: The Impact of Showrooming on the Holiday Season, 2012

Showrooming – the act of consumers using their mobile phones in-store to compare prices with competing retailers – effectively turns the physical store of a brick and mortar retailer into an extended showroom for anyone else carrying the same product. 1 in 4 shoppers used their mobile phone to compare prices in-store during the 2011 holiday season. Edgell Knowledge Network (EKN) and eBay Local conducted an industry survey of 59 retailers to gain a deeper understanding of the impact of showrooming and retailers’ preparedness to address it during the 2012 holiday season. Holiday season sales are a leading indicator of retail industry performance and consumer sentiment. Focusing on showrooming’s expected impact during the 2012 holiday season gives the findings and recommendations context and immediacy. Download Full...