This month's guest post comes from Localz. Crowned winner of the John Lewis business incubator JLAB in 2014, Localz specialises in micro-location technology, enabling retailers to access more detailed insight into customer behaviour.
Topics: beacons, ble, electronic shelf label, ESL, in-store, loyalty, loyalty app, loyalty card, retail, shelf display, shopper experience, shopping, showrooming, special offer, Blog, micro-location, mobile phone, personalised, price comparison, promotions
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
The five senses can be powerful allies to any organisation, and especially true for brick-and-mortar retailers who have the unique opportunity to enlist all of the critical human senses – sound, touch, smell, taste and sight – to help turn a “window shopper” into a paying customer. For brick-and-mortar retailers, sight is by far the single most powerful and influential sense and much research has been devoted to this topic. But all the experts agree: having the right visuals in-store can make or break the sale.
Price has always been a fiercely fought battleground between retailers, but the intensity of this competition has soared in recent years. The reason for this? Amazon.
For retail stores in particular, Amazon’s constantly fluctuating prices are the stuff of nightmares. While changes can be made online in a matter of seconds, it can take some retailers hours, days or even weeks – to update paper price labels across their store network. With this discrepancy, how are they supposed to remain consistent with digital channels, let alone competitive? We conducted some research recently for our Rethinking Retail report: Getting the In-Store Price Right in a Digital Age which revealed that 68% of UK shoppers and 72% of US shoppers have been deterred from purchasing an item in a store because they believed the price to be too high.