In my late 20s, I was 100 percent sure nothing could stop me. I was a hard-charging guy with a clear career path mapped out in my head that led to the CEO’s office — not living in the present and being impatient to get there. Then, at 29, a hole was discovered in my…
Tom Caporaso
Over the past year, we’ve seen unprecedented disruption in the retail space as COVID-19 forced store closings, disrupted supply chains, and pushed more consumers online than ever before. And with customer behaviors and expectations changing rapidly, their loyalty is becoming more difficult to earn. To better understand consumers’ mindsets at this critical point in time,…
The recent surge in online shopping has given e-commerce brands new opportunities to expand their customer base and strengthen relationships with current customers. Online sales increased by 52 percent in Q1 compared to the same time frame in 2019, and the number of online shoppers has grown by 8.8 percent. So when REVOLVE, an e-commerce…
Nearly 70 percent of consumers say their loyalty is more difficult for a retailer to maintain than ever before, according to a recent Clarus Commerce study. And consumers are pinning the blame on retailers — 88 percent say retailers could do more to earn their long-term loyalty. When it comes to satisfying the needs of…
In last year's fourth quarter, the U.S. Postal Service proposed a 9 percent to 12 percent increase in shipping fees for all shippers (including FedEx, UPS, Amazon.com), which could impact retailers in a big way. Consumers expect free shipping, but it’s getting harder for retailers to offer. And it’s already tough enough to compete with…
Today customer loyalty is much more than a rewards program. It’s about recognizing and reinforcing total customer value and creating sustained personal engagement with customers throughout every step of their brand journeys. Traditionally, loyalty has been achieved through a series of rational benefits delivered to members in exchange for their business. But now emotional benefits have…
In the age of the consumer, brands need to retain customers more than ever before. Consumers are empowered with all the information they could ever need about products at their fingertips. They can easily use their mobile devices to find the best deals anywhere, anytime. That’s why it’s more critical than ever to differentiate. One of the most powerful ways retailers can do that is through their loyalty programs, and is why many retailers are rethinking loyalty.
Tiffany’s is a compelling example of an iconic 181-year-old brand that blends its historic past with cutting-edge trends and themes that cater now to a younger demographic, aiming to restore some of its lost radiance. By targeting millennials and using a heavy dose of social media and digital marketing, Tiffany’s has found new life that has…
In late 2016, GNC, one of the largest nutrition and supplements businesses in the country, made a bold move. With giants like Vitamin Shoppe and Wal-Mart cutting into its profit margins, GNC decided to close all 4,400 of its stores for a day and reset its pricing strategy, offering one simplified price across all channels…
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Target recently announced that it will expand the functions and capabilities of its physical stores. As e-commerce continues to reshape the retail landscape, every legacy retailer has to adjust and adapt its strategies in order to attract and retain a sizable audience. Providing an optimal omnichannel experience for customers will soon be a prerequisite for…
The recent news about Amazon.com and PayPal discussing a partnership makes sense on several levels. Both companies possess valuable assets, and their alliance would likely benefit both companies here and abroad. However, the potential deal terms could also raise concerns, particularly but not exclusively among third-party sellers. Offering Amazon customers a PayPal option at checkout…
Amazon.com celebrated its 20th anniversary in 2015 by creating “Prime Day,” a shopping “holiday” that offered Prime members an ongoing series of deals over the 24 hours of July 15. Although much of the news that day focused on disappointed Prime Day shoppers, Amazon quickly declared victory — and rightly so, from its perspective. Amazon…
Mobile commerce, a.k.a., m-commerce, is the fastest-growing shopping platform in the retail industry — faster, in fact, than the e-commerce platform did when it launched in the 1990s. Digital sales during the 2015 holiday season, for instance, rose 50 percent — two-and-a-half times the growth rate of online holiday sales overall.
