Stitch Labs, an inventory and multichannel selling platform for retailers and wholesalers, revealed findings that indicate a potential 10 percent increase in revenue when companies provide free shipping to customers.
Big data is helping retailers to better stock their stores, using state apparel size averages, rather than the national average, to dictate inventory.
This year, retailers are all about mobile. In light of this trend, Shop.org has put together an infographic that lists the top mobile "movers and shakers" in retail.
Mobility for retailers started as a novelty and evolved into a luxury. Now, the mobile experience is a necessity for brick-and-mortar businesses.
Major retailer Walmart is enhancing its mobile platform by adding e-receipts as an alternative to the normal paper slip usually given to customers.
Two statistics tell a sad (or scary) tale for retail stores. Foot traffic was down 13 percent this holiday season and online spending rose 10 percent, according to sources.
Well, now that Target and Niemann Marcus and Michael's and... we're losing track of who's been hacked and how, but it sure seems like time to pay attention to your point-of-sale terminals (at last).
Retailing has operated in pretty much the same way since shopkeepers figured out how to leverage in-store credit, point of purchase displays, endcaps, and loss leaders. But now big data is pulverizing the traditional retail model, particularly in big box stores. Competitors who don't use big data are left to deal with the dust and rubble as best they can.
Given the ubiquity of smartphones, it's hardly a surprise that shoppers are relying on them to make informed purchasing decisions on the fly. What is surprising, however, is which apps are getting the most attention.
Gamification is about a lot of things but it's not about games. Essentially, it is an innovative and interactive way to engage customers and drive their behaviors which is why it is the darling of retail. But when it's married to big data, gamification gets really interesting.