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Retail Monthly December 2015


Computer keyboard with dedicated keys for Christmas shopping

The very strong showing in sales during Black Friday and Cyber Monday for eCommerce (Cyber Monday set a record at $3 billion, and for first time, more shoppers chose digital over physical stores on Black Friday) indicates the prediction that eCommerce is going to continue to grow—and change the face of retail forever. eCommerce makes up only 7% of overall retail sales, yet this holiday season confirms that this booming market can’t be ignored. RetailWire, an online retail discussion forum, asked its BrainTrust panel of retail experts to discuss this trend. The panel discussed their thoughts about the future of eCommerce based on this season’s numbers and whether the remainder of the season will go back to the norm or continue to show an increase in eCommerce shopping. One opinion is that retail metrics are “outdated and just plain wrong. It's not about how much a retailer sells online versus in stores, it is now about how a retailer can grow total sales (profitably) across all channels.” Read more.

 

 
 Diagram depicting omnichannel retailing

True Omnichannel Retailers Will Dominate in Holiday Shopping Battle

With the holiday shopping season at its peak, it is clear that retailers that are truly omnichannel are poised to come out victorious. According to a study by Buxton, a customer analytics provider, those retailers with seamless online and offline strategies have a clear advantage. Efficiency, convenience, and breadth of service makes omnichannel retailers more desirable, especially to consumers with less time, millennials with higher expectations, and the need to offer a strong, cohesive brand message. A thorough omnichannel strategy can help retailers meet all these demands and more. Read the full story.

 

 
Example of Pinterest Buyable Pins

Pinterest Enables In-platform eCommerce

eCommerce has entered “a new phase” of integration between manufacturers, social media platforms, retailers, and consumers. One of the most notable examples of this trend is the alliance between Pinterest, a software company called Demandware, and a pilot group of retailers. Due to the visual nature of Pinterest, it is referred to as a “catalog of ideas”—and buyable pins, which enable retailers to offer their products directly from their Pinterest pages, is poised to expand its eCommerce potential exponentially. The pilot program is showing great promise, not only due to the convenience offered, but also due to the fact that it represents “democratized retail.” Democratized retail “requires merchants to insert themselves into the new marketplace and concentrate more attention on product — assuring things like reliable order fulfillment and prompt resolution of customer concerns.” However, retailers maintain a direct relationship with the customer. Read the full story.

Also, read our blog, How Pinterest’s New Buyable Pins Will Affect Retailers.

 
 

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