Wireless Solutions to Improve In-store Sales, Optimize Shopper Engagement, and Combat "Showrooming
The retail industry is speedily evolving with spectacular changes in consumer buying behavior. Retailers need to have new strategies to satisfy their customers and enrich their buying experience. Online shopping is getting popular day by day and it is more popular than ever, but brick-and-mortar stores still dominate and have a larger share of the pie. Retailers are now thinking that they need to make their stores more attractive to shoppers who are completely satisfied shopping online.
Showrooming is the practice of checking out products in a traditional brick and mortar retail store without buying it and then shopping online to get a lower price for the same item. Online stores usually offer lesser prices than their brick and mortar counterparts, because they do not have the same overhead expenses.
This research addresses retail, in-store challenges and concerns including the so called “showrooming” trend. The report evaluates solutions to improve in-store sales, increase shopper loyalty, and overall engagement. These solutions include mobile shopping applications, friend locator and recommended buying, location-based marketing/advertisements, embedded entertainment (also known as “gamification”), social commerce, data intelligence, and more. The report provides retailer strategies and solutions. The report also evaluates the anticipated evolution to the smartphone enabled, socially connected, entertained shopper.
This report is a must-read for anyone involved in retail sales, in-store merchandising, mobile commerce, and smartphone applications.
Companies in Report:
- Mobile network operators
- Mobile commerce companies
- Wireless handset manufacturers
- Retail consumer goods companies
- Application development companies
- Corporate and Institutional Investors
- Embedded entertainment companies
- Mobile marketing/advertising companies
- ABC Carpet
- American Express
- Android Headlines
- Appliances Online
- Barnes & Noble
- Best Buy
- BI Intelligence
- Hewlett Packard
- Home Depot
- Jack Threads
- JC Penney
- John Lewis
- Marketforce Inc
- Marks & Spencer
- Office Depot
- Old Spice
- One King's Lane
- RSR Research
- Shazam integration
- Taco Bell
- The New York Times
- Vera Wang
- Vibes Mobile
Mind Commerce Publishing's research methodology encompasses input from a wide variety of sources.
We rely heavily upon our Subject Matter Experts (SME) in terms of their market knowledge, unique perspective, and vision. We utilize SME industry contacts as well as previous customers and participants in our market surveys and interactive interviews.
In addition, we rely upon our extensive internal database, which contains modeling, qualitative analysis, and quantitative data. We review secondary sources and compare to our primary sources to update previous findings (for prior version reports) and/or compile baseline information for technology and market modeling.
We share preliminary models with industry contacts (select previous clients, experts, and thought leaders) to verify the veracity of initial modeling. Prior to final report production (analysis, findings, and conclusions), we engage in an internal review with internal SMEs as well as cross-expertise, senior staff members to challenge results.
We believe that forecasts should be prepared as part of an integrated process which involves both quantitative as well as qualitative factors. We follow the following 3-step process for forecasting.
Step 1 - Forecasts Input:
The inputs for the present and historical revenues are derived from industry players. Financial and other quantitative data for individual sub-market categories are derived from original research and tested with interviews with major industry constituents.
Step 2 - Forecasting of Future Years:
Mind Commerce extends forecasts based on a variety of factors including demand drivers as well as supply side data. Key success factors and assumptions are considered.
Step 3 - Validation of Data:
The final step is to validate projections, which is accomplished in consultation with both internal and external industry experts, including both topic and regional experts. Adjustments are made to the forecasts based on factors identified throughout this process.