Tag Archives: #DiCentral

Shift or Reverse? Retail Is Alive!

Over the past couple of months, we have had some pretty significant changes to the retail/e-tail landscape. From mall staples shuttering their doors, to brand divestiture and IPOs going south.  It almost feels like the wild wild west. What has happened to change the landscape?  

Well it depends on the organization. Some took to embracing the future too far and lost who they were. Others did not change with the times and got stuck with their core competency shrinking.

When was the last time you went to a Sears or Kmart store? The announcement earlier last year announcing the closure of 265 stores was followed this announcing an additional 43 Sears & Kmart stores closing in 2017. They are no longer the new generations go to place when you need advice around tools or appliances.

Could these challenges have been stopped? Could companies like Sears have changed course? I could say yes, but the reality is that those driving the ships were the ones to initiate the change and not course correct. Even with some recent positive news around their deal to sell their Kenmore-branded appliances on Amazon, they are just another store, where you can now get their products online from Amazon.

I have been listening to experts for years talk about the end of retail. They have changed their tune and now call retail locations as assets to the omni or multi-channel commerce experience.   

1WorldSync and DiCentral set out earlier this year with a white-paper exploring how brick & mortar retailers can develop the operational backbone that supports e-commerce investments. On September 12 they will host a webinar in which we provide valuable tips for achieving operational excellence and a connected commerce approach.

March Madness Hangover

So it’s April… but at 1WorldSync, we are experiencing nostalgia or better yet a March Madness Hangover!

March Madness is all about constantly checking your bracket, placing bets, arguing with friends, and of course now believing you can now play in the NBA. The American Gaming Association predicts that more than 40 million Americans wager $10.4 billion on March Madness, a 13 percent increase over 2016. They also predict the madness will cost employers $2.1 billion in lost productivity (American Gaming Association 2017).

Brands and retailers, while taking advantage of the consumer’s need for related product, battle the loss of productivity. In effect, they create their own strange connection to the tournament.  Many historic brands are not having their best year ( Macy’s, Sears, KMart, Sports Authority) and even simply the old mom and pop store) are falling off our bracket.

March Madness = Marketing Magic

March is a slow time in the sports advertising world with little competition, creating a retail season of its own. Tapping into the fans’ feelings and providing a personalized experience will help produce brand loyalty.

Not only are consumers socially active via mobile, they show high engagement with the companies that speak to them during the games. Food and beverage are obviously big buyers for advertising in the tournament. Yahoo Data showed that in 2016 ad purchases paid off heavily (Yahoo Data, 2017):

  • Wing orders were up 24%
  • Pizza orders were up 17%
  • Sponsored apparel site searches were up 33%

Generating this excitement can be easy for companies of all sizes. There is enough room for smaller players as well.  Thinking local, social and timely can help revolutionize your customer experience, turning fans, into customers.

Win Consumers on Their Path To Purchase With 1WorldSync

Clearly, today’s world of commerce is ever changing and there is no perfect bracket. Why else would Warren Buffet give up $1 million to anyone who had one?

Similarly, trying to match the convenience and needs of consumers with personalized and trusted product content is no easy feat.

Looking for a whitepaper to help equip your organization with strategies that set you apart? 

Download our latest whitepaper to learn more about connected commerce and see how your organization can develop an operational backbone to support your e-commerce investments.

March Madness has become an annual event all consumers and retailers get caught up in. Whether it is the gut wrenching emotional pull,  money on the line, the right for office bragging rights or the excitement of seeing a Cinderella story,  it has created a month of madness that cannot be missed!

 

References

March Madness Betting to Top $10 Billion. March 13, 2017. https://www.americangaming.org/newsroom/press-releasess/march-madness-betting-top-10-billion

How bracket time can be a slam dunk for marketers. Feb 17, 2017.
https://advertising.yahoo.com/insights/how-bracket-time-can-be-slam-dunk-marketers?soc_src=mail&soc_trk=ma