In-Store Marketing Experts Demystify the Shift to Digital

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THE SHIFT TO DIGITAL over the past 12 months raises questions about the ongoing relevance of stores and in-store marketing. Not to worry – even as more shoppers buy more of their goods online, stores remain the primary selling channel – for most categories.

Retail has never evolved faster. The ripple effects will continue to impact this industry for many years, even after the chaos of the COVID-19 pandemic fade in memory.

For this expert roundup, our good friends at Tokinomo gathered some of the most influential voices in the industry to share what they expect is next for in-store marketing. I was privileged to participate and offer some detailed comments.

How will in-store marketers respond? My esteemed colleagues and I offer a range of observations and opinions, encompassing: “The Year Ahead”; “In-Store Promotions Tools”: “Hybrid Shopping”; “COVID-19 Impact” and more.

The discussion was a golden opportunity to share some of my best licks with some of the brightest minds in our industry. A few highlights to whet your appetites:

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Retail Tech Innovation or Consumer Change: Which Came First?

retail tech innovation or shopper behavior

THE EXPANSION of omnichannel retailing presents our industry with a chicken-and-egg problem: Does consumer behavior drive changes in retail tech innovation or does retail tech drive changes in consumer behavior?

This is much more than a philosophical musing. It’s a question that matters greatly to retailers. Retailing becomes more intricate over time at a pace that exceeds growth in consumption.

This means the next incremental dollar you add to your top line will be a little bit harder to obtain than the last one. Omnichannel requires retailers to maintain, optimize and adjust to keep pace with shopper expectations and behaviors. Those expectations change fast. They are elevated by shopper experiences and shaped by forces outside the retailer’s control.

I call this the Law of Equivalent Experience: The best service standard experienced anywhere is instantly expected everywhere.

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At Shoptalk: Fulfillment’s Faster, Freer Finale

IN THE FRICTION-FREE WORLD of online retailing, getting the order is easy. Delivering on the promise is hard.

At the Las Vegas Shoptalk conference last week retail thought-leaders shared insights about the fulfillment challenge. Their consensus: it’s not going to get any easier.

“My bet on shipping is faster and freer,” said Jason Goldberger, president, Target.com and Mobile Target, in a panel on The Changing Role of Stores in Ecommerce Fulfillment.

“It used to be that our guests just wanted free shipping,” he added. Now they demand overnight delivery and same-day store pickup.

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Michael Tobin, SVP Strategy & Innovation at Macy’s, explained that successful and cost-effective fulfillment now requires a sophisticated algorithm that considers multiple factors, including the ship-to address, units on hand, units to ship, location capacity, combinability of items in an order, and more. “We’re on the 3rd or fourth version of that algorithm,” he said.

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The Store is Dead! Long Live the Store!

Margo Georgiadis, GoogleTHE DISTINCTION between online and off-line retail sales grows blurrier by the minute, as shoppers meld their consideration and purchasing behaviors into an “all-line” shopping continuum that spans brick, web and mobile.

“The war for store traffic will be won or lost on digital,” said Margo Georgiades, President of Americas, Google, who spoke in Tucson, AZ last week at the 19th Global Retailing Conference sponsored by the Terry J. Lundgren Center for retailing at the University of Arizona.

In 2010, U.S. retail stores recorded 39 billion “footsteps” in November-December, she reported. By the same period in 2014 that number had declined to 18 billion. Despite that huge drop-off in store traffic, store revenues grew for the same periods from $641B in 2010 to $737B in 2014.

“Those footsteps didn’t go away,” she said. They just went online.”

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