Interacting with voice assistants is becoming a part of our daily lives. From smartphones and smart TVs to wearables and even microwaves, it’s hard to name a device that hasn’t been — or won’t soon be — enhanced with voice-enabled technology in some capacity. Despite its growth, voice assistant technology is a largely untapped resource.…
Bart Mroz
This past year, Lord & Taylor announced it would close its flagship store in New York City, as well as 10 of its other retail locations through 2019. While many long-established retailers have struggled to keep up in an increasingly omnichannel retail environment, the announcement still came as a surprise for many people as the…
Social media is, by nature, interactive. Millions of users scroll their personal feeds every day, liking and commenting on their favorite posts while discovering new products, brands and services along the way. Most retailers maintain a social media presence, but their social media accounts are largely used for marketing purposes or customer service. While consumers…
By 2020, millennial spending in the U.S. is projected to reach $1.4 trillion annually, accounting for 30 percent of total retail sales. While the impact of the millennial generation has long been talked about, most retailers have yet to adapt to meet the needs of this increasingly influential audience. Millennials are defined by more than…
Technology isn’t just changing the way consumers shop; it’s opening up new channels and giving e-commerce stores new ways to interact with customers. But the latest and greatest innovations aren’t always new. Sometimes the technology is improved over a long period of time, becoming more intuitive and better able to meet the demands of a…
The retail industry is in the throes of a major transformation as the traditional retail model gives way to new modes of “experiential retail.” A key element of experiential retail is the innovative use of technology to provide richer shopping experiences that are more informative, frictionless, immersive and satisfying. To create richer experiences both online…
The retail industry is undergoing a major transformation as e-commerce disrupts traditional brick-and-mortar store models and gives rise to new modes of “experiential retail.” The experiential retail trend is being driven by a number of factors, including the increasing popularity of e-commerce, the decline in traditional department store traffic, and the proliferation of mobile devices.…
The most recent high-profile victim of the retail apocalypse is Toys“R”Us, which has filed for bankruptcy. Toys“R”Us is another stark warning to legacy retailers to adapt to the changing landscape in which e-commerce and experiential retail have the power to make or break a retail business. Toys“R”Us’ decline is rooted in its continued reliance on…
3
Comments
In today’s fast-changing landscape, retail brands face an escalating number of challenges, from shifting consumer behaviors to the imperatives of digital transformation. In years past, many would consider multichannel as just having a brick-and-mortar store and an online presence. Today, retailers must adopt more robust multichannel strategies and deliver a cohesive brand experience to remain…
A recent blockbuster deal in the retail arena was the announcement that TV home shopping giant QVC was buying its main rival, the Home Shopping Network (HSN). This comes at a time when the audience for TV home shopping is in decline, causing some analysts to see the merger as a “last gasp” effort of…
