As brick and mortar retail face growing challenges, retailers must find innovative solutions to today’s problems. According to our research study with Planet Retail, 67% of shoppers think technology improves the store experience, 33% want offers sent to their mobile devices and 65% said they welcome agile pricing, where prices are subject to change throughout the day. As this research and recent McKinsey and Company reports suggest, electronic shelf labels (ESLs) could be the solution to today’s obstacles.
You only have one chance to make a first impression – the phrase is true for personal interactions, of course, but also for the relationship between you and your consumers. In an omni-channel retail environment, it is important to strategically consider every aspect of the buyer journey, creating a shopping experience that is consistent (and enjoyable!) across every channel. You want to get it right the first time.
Throughout history we’ve seen plenty of blockbuster rivalries in business that have changed the course of various industries. Over the past decade, the clash of the eCommerce and brick & mortar “dynasties” to gain consumer interest has certainly been one for the record books. However, while some rivalries may never be settled, we’re beginning to see eCommerce and physical stores come together for the sake of their common interest: customer engagement. While newly crowned “digital stores” are testing and implementing different types of technologies in the store, their overarching goal is the same: to revolutionize the in-store experience through digital means.
Once upon a time, the store made it a point to know all their customers, what they liked, what they didn’t, and perhaps even knew some of their birthdays and important anniversaries. When a customer would enter the store, the actual owner of the shop would be there to greet the customer by name, ask about their family and see if they’ve enjoyed their last purchase. The shopping experience was highly personalized and relevant to each shopper's buying behavior.
Quantitative easing, low interest rates and relatively benign conditions have seen western economies achieve modest growth post 2008’s depression. But with the ending of supportive monetary policies and the likelihood of rising interest rates – along with Brexit in Europe – living standards will be squeezed. When disposable income falls, as night follows day, price competition increases.
I’m sure most of us agree that the colour yellow packs quite a visible punch. It’s bright, it’s eye-catching, and one of the most visible colours on the spectrum. Interestingly, a lot of people will actually see yellow before they see any other colour, and when it’s combined with black, it’s a knock-out combination. Take the iconic New York cab for instance. Bright yellow and visible from a distance; it’s hard not to focus your eyes on the bright shiny vehicle sporting such a loud hue.
Topics: electronic shelf label, ESL, in-store, red, retail, retail promotion, shelf edge, shelf label, shopping experience, yellow, Blog, bricks and mortar, promotional price, promotions, psychology of colour