BRotD - Entry 0261 Google Report on Omnichannel Shopping

Best Reading of the Day

As I started to read this I was struck initially by how pedestrian the article was.  It gets better though and is well worth your time.

What bogey are you chasing today in your marketing strategy?  AOV?  CR?  Looking at your mobile traffic suddenly over 50%?

Read this little article to give you some help:

https://www.thinkwithgoogle.com/consumer-insights/omnichannel-shopping-journey/

Here is a snippet from the piece:

In other words, people feel that online shopping makes it easier for them to find the right item at the right price.
...
Ultimately, people are looking to meet their needs in the most efficient way possible, whether that means shopping online only or researching online before heading to the store.

Happy Reading,

J.W. Gant

Shoppability is a Thing

The current state of eCommerce should be interesting to all of us for a variety of reasons.  We have some new data and a new term to consider.

Shoppability.

That is the integration of a variety of apps and services, such as social media, with the ability to shop instantly.  I'm saying this is a way to encourage people to buy things they don't need and spend money they don't have  but this is also a set of ways to help people find goods and services they may not have known about and may truly need.  Both of those statements are likely true.

It is different from "omnicommerce" as it is less focused on the traditional ERP-based delivery of goods and more on inserting directly in to multi-channel approaches to selling.

Here is the full story:

https://econsultancy.com/three-key-retail-ecommerce-trends-meekers-internet-report-2019/

Here is a snippet from the piece:

...what’s most interesting about the growth of ecommerce in 2019 is that it isn’t just coming from the expected places – offline sales shifting to online, or customers visiting retailers’ websites to make purchases. Instead, Meeker’s Internet Trends report tells a story of shoppability becoming integrated into apps and services of every kind, offline retail becoming digitised, and ecommerce reaching new communities and demographics.

Happy Reading,

J.W. Gant

eCommerce the Profit Drain

I found the title of this article to be quite eye-catching:

Is eCommerce Draining the Profit Out Of Retail?

Yeah.  That is truly a great question.

Top to bottom the entirety of the eCommerce ecosystem is focused on enabling a company to have an easy relationship with customers and quickly provide them with goods at a low cost.

That has been the focus of traditional brick & mortar retailers for over 100 years but the cost structure of getting good TO a customer is quite different from providing a place for customers to go get goods FROM a retailer.

It is a read that is worth your time.  Get the whole story here:

https://www.digitalcommerce360.com/2019/05/16/is-ecommerce-draining-the-profit-out-of-retail/

Happy Reading,

J.W. Gant

BRotD - Entry 0259 The TV Bundle

Best Reading of the Day

One of the more interesting ongoing stories in the Age of the Customer is the ongoing revolution in "Television".

Can we call it TV if we watch a streaming video on our phone?

Anyway ...

This great read tell the history, the current situation, and where we are headed.  Well worth your time.

https://www.vox.com/recode/2019/5/2/18518666/bundle-tv-hbo-disney-netflix-apple-amazon-war

Here is a snippet from the piece:

Now you have more TV than you could possibly watch, for less than $50 a month, and we haven’t even gotten to the free stuff yet. The only people who will feel truly left out here — besides people who work in the Television Industrial Complex — are the ones who want to watch live major league sports or live news from traditional TV networks.

Happy Reading,

J.W. Gant

The Surveillance Economy

I don't recall having heard that exact phrasing until reading this recent piece in The New York Times.

The Surveillance Economy

I've read quite a bit about how authoritarian regimes around the world are using information tech to monitor and control its people.  Facebook is not a passive player in that space.  The political space has been highlighted since 2016 and the impact of Active Measures by Russian state sponsored actors to impact the elections in the United States. Also, it has been clear for quite some time how much data companies have on potential customers.  Finally, we've seen some positioning by Apple vs. the likes of Facebook (or Google) in data privacy.

This coin of phrase was new to me however and it caught my eye.  This is a good read.  How much do companies know about us? 

Read more to find out.

Here is the full story:

https://www.nytimes.com/interactive/2019/04/30/opinion/privacy-targeted-advertising.html

Here is a snippet from the piece:

“The way ads are targeted today is radically different from the way it was done 10 or 15 years ago,” said Frederike Kaltheuner, who heads the corporate exploitation program at Privacy International. “It’s become exponentially more invasive, and most people are completely unaware of what kinds of data feeds into the targeting.”

Happy Reading,

J.W. Gant

Nike and the Store of the Future ... Today

It started for me with the launch of the Nike Apple Watch.

An Apple Watch branded specific to Nike.  Cool looking too.  There's much more going on there than I realized at first however.  If a loyal Nike customer is wearing that watch, they likely have the Nike app to go with it and ... what happens when that combination goes to a mall near a Nike store?

Bingo.

Nike Stores are really at the cutting edge as this piece talks about.  Here is a snippet from the piece:

Retail isn’t dead, boring retail is. That was the sermon Nike was preaching at its New York City headquarters yesterday in a presentation by chief digital officer Adam Sussman, senior director of Nike Stores Experience Michelle Warvel, and Ron Faris, head of Nike’s SNKRS app and s23 NYC digital studio. The brand is using SNKRS to connect with culture, experimenting with turning experiences into retail opportunities, as well as preparing to roll out in-store features in which customers check out their new kicks with their phone.

I love how that article begins by the way.  So very true!

I talk about the traditional ranking of retailers, Tier 5 the smallest like your local christmas tree vendor, and Tier 1 the largest like Walmart.  There is really a "super tier" now.  Those retailers putting it all together: digital interactions (mobile and social), ecommerce, and a great in-store experience.  They are the very top of the list.  Some companies can do one of those great and succeed but they'll never be the biggest of the big.  Two gets you a long ways but the very best do it all.

Here is the full story:

https://www.fastcompany.com/90256871/nike-showcases-its-mobile-vision-for-the-future-of-retail

Happy Reading,

J.W. Gant

Awesome Retail Mobile App

Great little article by the folks over at ClickZ.

Want to know what a great mobile experience in retail is like when it isn't Starbucks?  Check it out.

Neiman Marcus, on the other hand, had two positive quarters in a row, citing the brand’s digital-first strategy as the catalyst for the turnaround.

In a way, Neiman Marcus’ app epitomizes that digital strategy, focusing more on where their customers are (online and offline, often at the same time) rather than where they used to be (the mall). We’ve mentioned some of its features before, but here’s a deeper dive into the app and what retailers can take away from it.

Here is the full article:

https://www.clickz.com/neiman-marcus-mobile-app/214155/

Happy Reading,

J.W. Gant

Basics of eCommerce Personalization

Get your house in order first.

That should always be the rule to live by.

Low hanging fruit, etc.

However it is shocking to find basic advice along those lines is still necessary especially when its something new involved where we lack a basic comfort level with the subject.  The reactionary response is to seek help from outside to address this new "something".

Try looking inside first. 

Good little article:

https://www.clickz.com/5-first-party-data-strategies-personalization/213990/

Here is a snippet from the piece:

Every brand understands—or should understand—the importance of data. And no data is more valuable than first-party shopper behavior data, which is derived directly from your customers. Since first-party data comes straight from the source, this eliminates any games of telephone, enabling marketers to better understand—and build stronger relationships with—their customers.

Clearly brick & mortar retailers want the same approach but it is far more challenging when dealing with in-store interactions.  This article's value is best seen by the online players or the omnichannel play for traditional retailers.

Happy Reading,

J.W. Gant

The In-Store Shopping Opportunity for Mobile Apps

When I was first imagining the mobile app I would build for regional supermarkets the biggest opportunity I saw was to help reinvent the in-store shopping experience.

Want to find a store?  Don't you already have a favorite supermarket picked out?  Doesn't google do that for you?

After you've been to the store?  What?  Recipes to cook the food you bought?  Sure, but there are a few resources for recipes available already right?

In the store?

Now you're cooking with butter!

(I love that saying)

Walmart is at it in a big way and it is worth following.  With resources I could only dream of they are reimagining the shopping experience.

Here is a snippet from the piece:

With a new mobile app experience, Walmart is hoping to change the way people shop at its brick-and-mortar stores. The multinational retail chain, which now has more than 11,600 stores under 59 banners and ecommerce websites in 11 countries, recently debuted a new mobile app experience that promises to get customers in and out of stores more quickly, reimagining in-person shopping.

Walmart’s new Store Assistant is an all-encompassing mobile app solution...

Here is the full article:

http://streetfightmag.com/2018/02/27/walmart-reimagines-in-store-shopping-experience-with-mobile-update/

Now imagine if none of the past were present and no stores existed today and you wanted to open a store.  What would you do .... today?  Mobile interactions?  Social media interactions?  You bet.

Happy Reading,

J.W. Gant

Improving Retail Mobile Apps

Continuing the discussion on retail mobile apps.  I've been in and around this game for many years.  What I see is a new kind of "Tier 1" retailer. 

There's the classic Tier 1, but then there is a superpower level.  That retailer has it all: great retail stores, great mobile app, great online shopping.  Which ones qualify?  Walmart, Amazon, Target, Starbucks .... anyone else?

Here is the story:

https://www.clickz.com/retailers-improve-app-experience/207018/

Here is a snippet from the piece:

Most retail apps leave something to be desired, according to Jim Cusson, President at retail marketing agency Theory House.

“I think of that quote from Field of Dreams: ‘If you build it, they will come,’” he says. “A few years ago, there was this rush to build apps and everyone wanted one, whether it had a true purpose or not. You see a lot of injured soldiers on the battlefield now because companies have invested money in an app that’s obsolete.”

Happy Reading,

J.W. Gant

Retailers and their Mobile Apps

Recently found a great little website for all things related to digital marketing.  Worth checking out:

https://www.clickz.com/

Here's one of the stories that grabbed my attention.  6 retailers who have outstanding mobile apps:

https://www.clickz.com/6-retail-brands-nailing-app-game/207024/

Here's a snippet from that piece:

Earlier this year, the app market data and insights company found that the typical consumer uses 10 apps per day. For most people, it’s unlikely that many of those 10 are retail apps. Amazon is the category’s sole representative on Apple’s Top Chart.

Happy Reading,

J.W. Gant

BRotD - Entry 0255 Shopping Online Using What Device?

Best Reading of the Day

Forbes has a fantastic article for all of the holiday shoppers out there looking to browse online stores for their shopping needs.

Quick.  What device are you reading this on?  Desktop computer?  Is your smartphone nearby?

If you wanted to grab something off of eBay real quick which device should you use?

Here is a snippet from the piece:

Since the dawn of Cyber Monday, when consumers would come home from shopping in stores all Black Friday weekend, only to turn around and use high-speed connections at work on Monday to finish up their shopping lists, retailers have observed that consumers are using different digital channels for different objectives.

Over the past few years, holiday shopping has reflected some of these shifts. Online sales are growing far faster than store sales, and within online, mobile is capturing a larger share of traffic – but mobile still drags far behind desktop and even tablet experiences when it comes to sales.

Retailers also have not invested evenly across their digital channels. Just because a retailer's desktop website is a great experience, it doesn’t mean its mobile site – or app – has kept up.

Here is the whole story:

https://www.forbes.com/sites/nikkibaird/2017/11/21/mobile-or-desktop-site-or-app-which-is-the-best-way-to-shop-this-holiday-season/#3be564c7214a

I wrote about these things a couple times here regarding retailer's digital strategies and here regarding the question of what is actually "mobile" and what isn't.

Happy Reading,

J.W. Gant

Experience Experimentation or Checkout Optimization?

Any time I read about a sophisticated experimentation effort to optimize some digital process or tool I get all starry eyed.

Yes, these are the things that keep me up at night wondering about the larger meaning.

The folks over at eConsultancy have another excellent entry that goes right down this rabbit hole.  Well worth the read:

https://econsultancy.com/blog/69447-ask-the-experts-conversion-rate-optimisation-trends-challenges-strategy/

Here is a snippet from the piece:

There is a divide taking place in the industry. The businesses at the strategic and transformative level of maturity don't even use the term CRO or conversion optimization. Experimentation is the mindset change they have adopted and made part of their DNA. Brands like Amazon, Skyscanner, Booking.com…

Happy Reading,

J.W. Gant

BRotD - Entry 0253 Next Generation Stores Today

Best Reading of the Day

Always remember, the folks who want to sell you something will often be willing to write studious analyses to help persuade you to but it.

With that in mind you really should read this, the best read of today, or the month really.

Forget everything we know or think we know about the retail store.  Given the technological shifts we've seen in recent decades with online, social, integrated fulfillment, seemless customer service through digital, mobile, and more, what should the store look like today.

Here is a snippet that provides one view:

Over the next three years, outdoor lifestyle apparel retailer Toad&Co. plans to open 20 new brick and mortar stores.

With news of store closings by powerhouse brands likely swirling around in your head, you may be tempted to make sure you read that number correctly. It’s been dizzying for sure. So why would an apparel retailer be looking to expand its brick and mortar footprint in this environment?

Santa Barbara, CA-based Toad&Co. lives by a simple truth: People enjoy shopping and being in the store, and still want that experience. They just don’t want it to be disconnected from the rest of their purchasing journey.

“We don’t believe brick and mortar is dying,” explained Kelly Milazzo, VP of operations for Toad&Co. ”But we do believe that the consumer expects, and will soon demand, a seamless interaction with the brand.”

Here is the full article:

http://www.chainstoreage.com/article/how-make-next-generation-store-right-now-store

Happy Reading,

J.W. Gant

... and Costco Tames the Amazon Beast ...

Is it possible to "Amazon Proof" your offering?

Maybe.

Maybe Costco has some lessons to teach us.

Here is a snippet from the piece:

Costco's June comps show that the retailer is continuing to successfully deflect e-commerce pressure and ride strong momentum as food deflation abates.

For the forty-four weeks ended July 2, the company reported net sales of $104.28 billion, an increase of 6 percent from $98.51 billion during the similar period last year.

U.S. comparable sales in June rose 6.3%. Total worldwide comps were 6.5%.

Costco has been steadily adding locations, growing its membership base (despite fee hikes), and increasing its sales.

Here is the full story:

https://retailleader.com/costco-knows-how-be-amazon-proof

Happy Reading,

J.W. Gant

Amazon Acquires Whole Foods - What Does It Mean?

When the news broke that online retailer and all-around everything super-center Amazon was acquiring Whole Foods my instinct was to get straight to my blog.  I have thoughts on this, of course, but I also knew there would be a slew of industry leaders leaning in on this deal.  So I decided to wait a bit and gather the best articles in one place.

First, my thoughts.

Clearly Amazon wants to become more like Walmart as Walmart continues to try to be more like Amazon.

If I were to look in to the future of retail and how digital will ultimately impact it I think we'll see a new normal settled upon in the very near future.  Within that normal there will be room for all kinds of players so long as they define a clear space that differentiates them from others.  Pure online, pure mobile, pure physical retail, and everything in between will be the new reality.  The largest players will be heavy in physical AND digital, while smaller players will excel at only one or the other.

So Walmart might one day be 70/30 physical to digital and Amazon might become 30/70 physical to digital.  Something like that.  You'll still see the mom & pop shop on Main Street, and the little niche mobile-only player that gets the job done too.  Great time to be a customer huh?

The Food Marketing Institute back around 2012 was predicting roughly 10% of current Supermarket business would shift online.  Most of that, 80%, would be taken from packaged center store goods that were easily shipped and often good targets for subscription models (such as diapers).  Don't see any reason this prediction was off and that means big changes for Supermarkets across the country.  They are suddenly too large for their needs.  We should see stores removing aisles to make room for more fresh and prepared in-store options.  Combined with a robust digital presence the best Supermarket chains will survive and thrive (Wegmans).

Now to it and there is a lot of reading for you should you choose to do so.

RIS weighs in with their slew of experts:
https://risnews.com/experts-weigh-amazon-snatches-organic-grocer-whole-foods-137-billion

Re/Code tell you how to keep Amazon from swallowing your business too:
https://www.recode.net/2017/6/19/15832958/amazon-whole-foods-jeff-bezos-acquisition-aws-vendor-tips-cloud-open-source

RetailDive tells us how the war between Amazon and Walmart is accelerating:
http://www.retaildive.com/news/amazon-vs-walmart-why-the-whole-foods-deal-escalates-the-war-for-the-amer/445294/

Bloomberg tells us Amazon is after every single thing you buy (which is exactly what Walmart is after by the way):
https://www.bloomberg.com/view/articles/2017-06-20/amazon-s-real-target-isn-t-whole-foods-it-s-everything-you-buy

Digital Transactions tells us why Amazon is changing the checkout (payment) process with this acquisition:
http://www.digitaltransactions.net/news/story/With-Its-Deal-for-Whole-Foods_-Amazon-Could-Usher-in-Seismic-Change-for-the-Checkout

Business Insider is always a good read and they say Walmart and Kroger (supermarket) should be terrified by this deal:
http://www.businessinsider.com/amazons-whole-foods-acquisition-should-terrify-walmart-kroger-2017-6

Finally the NRF (National Retail Federation) tells us the retail reinvention is just getting started but also cautions against the belief that traditional retail is imploding (correct):
https://nrf.com/news/retails-reinvention-story-is-just-getting-started

Happy Reading,

J.W. Gant

The New Wave of Retailers

There is some tech news in this as well as pure retail news.

We are seeing eCommerce 2.0 happening everywhere as smaller niche players fill vaccums Amazon hasn't taken.  One is for pets.  The company's name is Chewy and they are now nearly a $1B company 5 years after launch.

Here is a snippet on that one:

The online only pet food retailer operates a 365-day 24/7 help service and offers hassle-free returns. Forbes reported in January 2017 that Chewy employed '416 of its 3,400 staffers to answer phones and texts in round-the-clock shifts'.

But its commitment to customer love is most impressive when you look beyond the numbers at how Chewy treats its customers.

Those few that receive a mistaken or damaged order are told they are welcome to donate the order to a local animal shelter and Chewy will send a new order straight away.

Read the entire story here:

https://econsultancy.com/blog/69136-six-emerging-retailers-with-effective-strategies/

A common thread in these companies is their responsiveness to the needs of their customers.  Welcome to retailing in the early 21st Century.

Happy Reading,

J.W. Gant

eCommerce Surging

All Amazon all the time right?  Sure but everyone else is getting better at the game too and the numbers tell it.  I'll share one story but a couple other highlights stand out.

Wayfair.com the home furnishings company is the fastest growing retailer in the U.S.

The top 500 retailers got there by seeing their eCommerce grow 15%.

Here is Walmart really getting in the game with a 63% increase in eCommerce.  Read more here:

https://www.mediapost.com/publications/article/301466/walmarts-e-commerce-surges-63-as-new-strategies.html?edition=103172

Happy Reading,

J.W. Gant

Mobile Strikes at eTailers

We are seeing a new wave of eCommerce as the niche players gain strength.  How mobile impacts this is an interesting and developing question.  One fellow thinks he has the answer and it is worth reading.

https://www.retail-week.com/analysis/opinion/opinion-why-mobile-will-kill-the-multi-brand-etailer/7020827.article

Here is a snippet from the piece:

The number one reason mobile threatens to disrupt multi-brand ecommerce retailers is linked to discovery, as it changes the rules and the power dynamic shifts back to direct to consumer brands considerably.

Happy Reading,

J.W. Gant

Walmart Online Growing by Double Digits

Looks like the Jet.com acquisition is paying off for Walmart.

Here is a snippet from the piece:

Wal-Mart posted its third straight quarter of double-digit online growth, which helped its holiday results top estimates. The world’s largest retailer is benefiting from last year’s acquisition of Jet.com, a $3.3 billion deal that reinvigorated a flagging e-commerce business and brought a new executive team to the division.

Wal-Mart is finally “playing offense,” said Peter Benedict, an analyst at Baird Equity Research.

Here is the whole story:

https://www.bloomberg.com/news/articles/2017-02-21/wal-mart-s-bid-to-become-e-commerce-giant-helped-by-online-surge

Happy Reading,

J.W. Gant