Digital Innovation
The world is in the chokehold of the COVID-19 pandemic. Governments are trying to contain the virus transmission at various levels by implementing measures like widespread testing, contact tracing, mandated isolation and social distancing. While this pandemic has put a break on business activities, it has given a mandate to retail businesses to accelerate the…
What does it take for a retail brand to survive during a global pandemic that's disrupting supply chains and manufacturing capabilities, changing consumer behavior, and impacting employee productivity? In the age of COVID-19 it takes brave brands that are willing to strategically break the rules and conventions of the industry, experiment with new ideas, play…
In the coronavirus vs. retail fight, the score so far is one to zero. Many retailers, like Macy’s and Gap, have been forced to close their stores, put tons of thousands of employees on leave, and cut their budgets to survive. These actions are just like how our bodies restrict blood flow to limbs in…
Retail sales finished strong in 2019, registering a 3.4 percent increase over 2018. Until recently, experts were predicting a robust performance in 2020 as well, with projections of 3.5 percent growth or more. However, the COVID-19 pandemic has caused many retailers to close their doors in response to calls from public officials for people to…
In almost all product categories, consumers are making fewer trips to brick-and-mortar stores. When consumers see brands and products on shelves, they can touch, feel and learn about them, and awareness and buying increase. As that real-life exposure decreases, brands feel the pain of lost sales. In fact, when a store closes, only a small…
In episode 241 of Total Retail Talks, Editor-in-Chief Joe Keenan interviews Jessica Herrin, CEO and founder of Stella & Dot, a family of brands of fashion, accessories and skincare. Listen in as Herrin discusses managing during the COVID-19 crisis, how Stella & Dot is adjusting to this new normal, and how she is motivating her…
The retail industry is changing, fast. Over the past decade, we've seen this sector move to a primarily online function and innovate to meet the needs of an ever-shifting assortment of consumers. In fact, 2019 showed great progress for e-commerce to close the gap in total market share of sales compared to brick-and-mortar retail. Furthermore,…
The notion of differentiating your retail brand based on price and merchandising is over. Today, winning customers boils down to the experience you provide. Easier said than done. According to a recent study by PwC, one in three consumers said they will walk away from a brand they love after just one bad experience. That’s…
A recent Salesforce.com report, Customer Expectations Hit All-Time Highs, uncovers how “Modern customers have much higher expectations, such as proactive services, personalized interactions, and connected experiences across channels.” This message is resonating across all retailers, from big-box stores to mom-and-pop shops, as online commerce solutions become more sophisticated in delivering these personalized interactions and optimizing…
In this week’s Retail Right Now, Total Retail's Kristina Stidham and Ashley Chiaradio discuss the top trends to emerge from the 2020 National Retail Federation Big Show in New York City. Here are three trends we heard frequently over the three-day event: the need for retailers to implement diversity and inclusion initiatives; an increased focus…