Today’s retailers may be in competition with eCommerce giants like Amazon, but they also have an edge: consumers spend more shopping in-store than they do online. According to a First Insight study, 71% of shoppers spend more than $50 in-store versus 54% spending over $50 shopping online. The same study found that 34% of customers will spend more than $100 in a store. To win dollars away from the dot […]
As e-commerce’s popularity continues to expand in retail, brick-and-mortar retailers need to find new ways to drive online shoppers to their physical store locations. While customers have embraced the convenience of online shopping, in-store shopping hasn’t lost all of its appeal. Brick-and-mortar locations offer several benefits over online stores, including the ability to physically interact products, speak to helpful associates and receive personalized attention. The majority of customers are still […]
For years we’ve heard about the so-called retail apocalypse as stores close their doors. However, consumers still shop at brick-and-mortar locations, and their in-store shopping exceeds online purchases. A survey by First Insight found that 71% of consumers spend more than $50 shopping in-store compared to 54% shopping online. The same survey found 34% spent more than $100 in the store, and only 21% spent the same online. To win […]
Inventory is the single most important investment for your company. When your inventory works against you rather than for you, it leads to big problems. For retailers of all sizes, omnichannel inventory is growing in popularity. However, for midsized retailers, it’s a necessity to compete with the ecommerce giants. Omnichannel customers are valuable and can offer a good boost to your bottom line, so you must strive for sharpened omnichannel […]
Midsized retailers lacking an accurate inventory run the risk of losing customers, especially if a competitor has the same or a similar product. According to an IBM study, if an item is out of stock, and the store can’t find the item in another location, 72% of customers will switch to a competitor. Keeping an up-to-date inventory is vital, especially as the retail industry continues to evolve. Simply put: If […]
