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What can Colin Firth teach us about Retail?

Tuesday, 05 January 2016 00:00

Author: Will Fuentes, Retail Expert

In the 2003 hit movie “Love Actually,” Colin Firth’s character, Jamie, falls in love with Aurelia, a woman who only speaks Portuguese.  The problem is he doesn’t speak a lick of it.   But as with any great romantic this fact does not dissuade Jamie from pursuing her.  He tries to understand who she is and what she wants. He also secretly learns Portuguese and on Christmas Day he declares his love for her—in a packed restaurant.   

Author: Ruth Hamer, Marketing Director

Trust (trəst)

firm belief in the reliability, truth, ability, or strength of someone or something

For retailers, maintaining customer trust that their merchandising practices are fair and transparent is essential to long-term success. As a consumer, you know instinctively that this is true. If you take just one brief moment to reflect, you will easily recall numerous purchasing decisions that you have made based on whether the retailer won or lost your trust.

Author: Ruth Hamer, Marketing Director

Top rankings for Revionics appear in Innovation, ROI, Quality of Service and the All-Important Strength of Recommendation Top-10 lists

View/Download RIS News Software LeaderBoard 2015 (PDF)

Author: Ruth Hamer, Marketing Director

Monitoring Holiday Pricing Trends

The jury is out as to whether this holiday retail season will be boom or bust. It is difficult to accurately assess consumer mood and guess how wide the purse strings will be opened. Retailers and e-tailers will be competing fiercely for consumer dollars and pricing will be more dynamic than ever before.

Author: Alison Raffalovich, Senior Corporate Communications Director, Revionics

We have a little saying around here: the world doesn’t want to hear from us, it wants to hear from our customers.  RIS News truly understands this that in spades, and that’s why their annual leaderboard relies on retailer surveys to determine industry leaders among software vendors in the retail sector.  But best to let RIS News Editor Joe Skorupa describe it in his own words:  “The RIS Software LeaderBoard measures the wisdom of the crowd to cut through the noise of marketing messages, buzz and hype. It aggregates 747 evaluations made by 332 retailers about 50 retail technology vendors. We believe this offers an excellent way to get insight into your next tech purchase.

Author: Ruth Hamer, Marketing Director

Monitoring Holiday Pricing Trends

Marketyze and Revionics recently published the first part of their 2015 Holiday Pricing Trends Report, analyzing competitive pricing data gathered from October 27 through December 5. The report looks at various aspects of the price positioning and behavior of four leading retailers: Walmart, Sears, Toys R Us and Best Buy, as well as four leading eTailers: amazon.com, ebay.com, jet.com and rakuten.com.

Author: Marc H. Hafner, Chairman & CEO, Revionics, Inc.

Online retail is the new frontier and customer-centric pricing for retailers has taken on a whole new meaning with the growth of ecommerce. According to the Centre for Retail Research, rapid ecommerce growth continues to accelerate with 2015/2014 year-over-year growth in the US at 13.8%, 15.2% in the U.K. and 11.6% in Germany. 

This boom also brings with it challenges for retailers. Planning and executing in silos is a thing of the past. The walls that have defined traditional retailing are coming down – and retailers have to truly merge the online and physical channels to deliver a seamless experience for the customer.

Part 3: 15 Observations from Black Friday

Monday, 30 November 2015 00:00

Author: Will Fuentes, Retail Expert

This list is a bit of a misnomer as we were out at the stores on Thanksgiving as well as Black Friday! Without further ado:

Author: Dave Thompson, Chief Technology Officer at Revionics

Last week I had the pleasure of visiting with one of our specialty retailer customers.  During one of the sessions, we were warming up a review session with their CMO by exchanging thoughts on current trends in retail.  We got into a fascinating conversation about private brands and started sharing views and (publicly available) information on how we each saw the positioning of private and national brands around different retailers in different verticals.

Author: Will Fuentes, Retail Expert

Even with traffic down, Black Friday still affords an opportunity to win new customers and increase the loyalty of old ones.  I spent the first 8 years of my career in retail seeing this first hand.  I also witnessed employees making great suggestions on how to improve the Black Friday experience for both them and customers.

What was interesting is that many of the suggestions were simple and easy to execute.  However, they delivered immeasurable impact to the spirit of the store.