Omnichannel
When the Burberry CEO takes over as Apple's retail chief this spring, she will arrive with a sterling track record and an open, collaborative spirit that's sure to shake things up in the executive ranks. Meet the woman charged with making Apple shine again — and what she could mean for its legacy.
Looking ahead — beyond the reports for the holiday 2013 season — I see some very encouraging signs for the retail industry. Here are some observations:
After 10 years, Staples is dropping its once ubiquitous "That Was Easy" slogan as part of a new advertising campaign aimed at redefining the company for the digital age. Traditionally associated with its brick-and-mortar office supplies stores, Staples’ in-store sales have suffered in recent years as core products like notebooks, printers and, yes, staples, have gone out of fashion as modern schools and workplaces have shifted their communications online.
The culture of retail has been evolving for decades. In the 90s, the growth occurred in brick-and-mortar stores; from 2000 to 2010, retailers had to shift their focus to offer better online shopping experiences; and this decade is all about the evolution of omnichannel. Today, retailers are charged with creating the ideal shopping experience everywhere. For consumers, it must be seamless and simple no matter where their purchases take place.
Live chat can be just like a sales conversation you would have in-store. Unlike email, chat is immediate and truly two-way, and being at a computer doesn't mean you have to act like a robot. Be friendly, personable and don't stress if you make a few mistakes typing. Above all else, have fun! You're using chat to make people happy, so enjoy the experience.
British fashion label Burberry has opened a new digitally enhanced retail location to showcase its recently launched beauty line. The Burberry Beauty Box, located in London's Covent Garden, carries Burberry's beauty, fragrance and accessory lines, and offers consumers the ability to discover the brand's cosmetics through both sales associate consultations and digital touchpoints, including mobile checkout. By creating a space specifically for its beauty line, Burberry is able to encourage consumer interaction with its beauty products, drive sales of the new line and test out new retail tactics.
Under an onslaught of innovation and pricing pressure from discount e-tailers, omnichannel retailers are looking for an edge. This is true coming into the holiday season, where research shows anywhere between 20 percent to 40 percent of annual revenue is generated. With that in mind, here are five tips to ensure retailer success this holiday season:
Despite the fact that the brand launched online and brick-and-morter locations have been slow to open, Kate Spade execs envision a big future filled with lots of stores for Kate Spade Saturday. As the company's senior VP Kyle Andrew said in July, "We have big plans for this brand...It can be in a lot more places than Kate Spade can be." One of those places is New York City's JFK airport where
Gap placed strong third-quarter investments in its growth plan, including introducing omnichannel, getting the company ready next year for responsive supply chain and beginning its seamless inventory for 2015. There are several investments and strategic plans that the company will continue to stick with because they're part of the long-range plan. In that bucket are investments such as China, Old Navy International, Athleta growth, recent growth with Intermix, and the global outlet. Earlier this year, Gap decided to focus on seamless inventory in addition to its growth initiatives.
Rounding up the year's best tips to help you optimize your business.