Retail – Page 5

04 Dec01:29am

Cyber Monday was a winner!

Figures just released by comScore show that retail sales on Cyber Monday were over $2 billion, and these figures do not include sales made through a tablet or mobile device. Wow!

The report went on to say that consumers spent 26% more in 2014 than they did in 2013 over the holiday weekend, and online sales are continuing to outstrip those of bricks and mortar stores.

Any retailer who has still not been able to get their products online, or has a website that doesn’t have mobile and tablet capability for shoppers is losing out on valuable revenue.

Contact xocbox if you are struggling to keep up with listing your products, and running your business – our tools can help you manage your store, and we have a great new product coming in the new year!

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13 Nov01:02am

Black Friday Week or Month?

Last night I purchased something from a local Banana Republic store, and at the checkout I was given a coupon called TGI(B)F which said “Early Access to Black Friday”, and had discounts I could use from November 24 through November 27.

The sales associate cheerfully told me that if I couldn’t deal with Black Friday shopping, I could shop early from Monday 24th.

I also read an article saying that Walmart plans to make it Black Friday week. Walmart’s Black Friday begin at 12:01am on Thanksgiving and will include five days of sales online and in their physical stores, taking us through Cyber Monday.

It looks like many retailers such as JC Penney, Staples, Macy’s and Target are planning to open on Thanksgiving – with some as early as 5pm.

Retailers are increasingly aware that shoppers are turning to the web to shop at times that suit them, not retailers, and Black Friday has become symbolic with the start of the holiday shopping season, not necessarily the one day for the best bargains.

With shoppers researching prices online, and checking spot sales in bricks and mortar stores, the 2014 holiday shopping season is going to offer bargains for weeks to come.

So don’t worry about rushing out the door to bargain hunt, as soon as you’ve eaten your turkey dinner – retailers will surprise us with flash sales right through the holiday season, and the best bargains may appear as we draw closer to the end of December.

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21 Oct18:51pm

Apple Makes Headline News Again

This week Apple announced that it had sold an astonishing 39 million iPhones in the quarter ending September 2014, up from 33.8 million sold in the same quarter last year.

There is no doubt that we love our smartphones, and yesterday the iPhone just got smarter with the introduction of Apple Pay, described on their website as “Your Wallet. Without the Wallet”.

Many major banks have already signed up to parter with Apple, and more are scheduled to follow.

The convenience that Apple Pay presents for shoppers, and the huge number of iPhones sold, suggests that consumers will readily adopt this new way of paying.

Apple Pay can be used with retailers and chains such as Open Table, Panera Bread, Target and Staples, with more scheduled to follow.

What About Your Store?

So can your store use Apple Pay yet?

Most retail stores that accept contactless payments that are based on wireless-chip technology, or NFC, should be able to use Apple Pay. If your store has the hardware in place, but has not activated the functionality yet, now may be a good time to do so.

Shoppers can also use Apple Pay within store apps, without having to enter card numbers, or any other personal information, using fingerprint ID to authorize a transaction.

Research indicates that the majority of stores in the US are not equipped at this time to do contactless transactions, and smaller retailers may be wondering how they are going to keep up with yet another new piece of technology.

However, due to a requirement coming into force in 2015, merchants will need to upgrade equipment to include an enhanced security system or EMV, so now may be a good time to also enhance the system with NFC capability.

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01 Oct03:22am

What is Drop Shipping?

When you open an online store, the main thing you need is inventory.

Without any products to sell, you don’t have a store. This seems pretty obvious.

However, many people are surprised when they start listing products online, as it often takes many more product lines and categories than first anticipated to fill an online store.

So if you don’t have the funds to buy hundreds of different product lines, or simply don’t have the storage space, then drop shipping may provide the answer.

How Does Drop Shipping work?

Basically, you do not purchase products to store in your own warehouse until sold. Instead, you make arrangements with a wholesale supplier to list their products on your website, and when a product is sold, the supplier ships the product. Sounds simple.

The arrangement is straightforward enough, however, there are a few things you should be aware of.

Firstly, you lose control of the inventory, and this may ultimately cause customer service problems. For example, if there is a delay in shipping, or a product is damaged on arrival.
Also, since drop shippers usually sell to many retailers, keeping track of their inventory, as well as your own is difficult.
Profit margins on sales are also lower than if you were to purchase products and sell them directly to your customers.

The benefits of drop shipping are:

You can add more products to your website, and give your customers greater selection.
You don’t have to deal with the packing and shipping of products yourself.
You can begin your retail store without the expense of buying inventory to stock your store, so this can be a good way to get started.
You can “try out” a new product or new category, just to see if it’s a good fit for your store, without actually buying the product.

In conclusion, drop shipping has many advantages, and some disadvantages. Retailers often find a combination of products housed in their warehouse, and those shipped directly from drop ship suppliers is a good way to go.

Once you have elected to work with a drop shipper, always monitor their performance in regard to product fulfillment and customer service. If you find that a particular supplier does not perform well for you, it is better to stop selling that product, rather than risk your online reputation.

For information about selling through drop ship vendors, and how xocbox systems can help you keep track of shipments and inventory, please contact xocbox.

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23 Sep17:22pm

Do You Need Omnichannel Retailing?

Most retailers know that being able to offer their products online is an essential part of their marketing strategy, rather than an option.

However, a recent report by comScore revealed that 173 million people in the US now own a smart phone, and are using this device to check emails and text messages all day long.

They are also using it to shop.

As retailers, whether we like it or not, omnichannel retailing is here to stay, and marketing-savvy retailers have been making sure their websites are mobile-optimized, and ready to offer features and services to customers during the holiday season, so they don’t miss out to the shopping giants and big-box stores.

So what can you do to get your store up to speed? Omnichannel retailing really means that all the places where your customers can buy … physical store, online via desktop, smartphone, ipad or tablet … work together seamlessly for your customers.

Put yourself in the position of your customer and try to buy something from your own store through all the channels that you offer. How was the experience? Did you get smoothly to checkout? Were there frustrating delays or screens that didn’t display correctly, or not at all? Once you have pinpointed the sticking points, get your tech team and staff to iron out the issues.

You have probably already figured out your holiday marketing campaign, but research is showing that email is still a favorite by many retailers. In the study mentioned above, it was found that 42 percent of emails sent were opened on smartphones, and an additional 17 percent opened on tablet devices. So definitely make sure your site is mobile optimized.

Follow the lead of large bricks and mortar stores, such as Staples, who are aggressively using email campaigns to drive customers into their stores, and tempting them with a series of coupons and special offers.

Keeping in close contact with your customers through all devices will be key this holiday season, and those who don’t will lose out on precious holiday sales to retailers who have planned their omni-channel strategy to create an excellent customer experience at all of their store touchpoints.

If you would like information on omichannel retailing for your online or bricks and mortar store, contact info@xocbox.com.

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23 Sep03:06am

Communication drives customer satisfaction

I recently read an article about the top five drivers of customer satisfaction in the remodeling industry, and at the top of the list was communication.

Others in the list included sticking to a schedule, being professional and organized, trust and problem resolution.

In reality, the list above could be applied to any type of business, including retail.

How many times have you purchased something online, and waited patiently for your item to be delivered, only to receive an email ten days later saying the item is on back-order!

Don’t let this be the experience your customers receive when shopping on your site. Nothing will drive customers away from your site more than poor customer service.

No matter how busy you are, by setting a routine that you and your staff follow when customers purchase or call in for help, you can avoid disappointment, and gain a loyal following of happy customers.

What your customer wants

Promptly confirm purchases via email
Confirm that payment has been received
Advise when item purchased will be shipped
Once shipped, let them know package is on the way, and confirm tracking details
Provide updates and status on late or delayed shipments
Always include a packing slip or invoice in every package you send out
Include a returns policy in the package
Include a phone number or email address that customers can call with questions
Include a FAQ page on your website
Return customer calls within the same day, if possible
Resolve issues promptly, avoiding arguments
Issue refunds and credits promptly

What your customer doesn’t want

No confirmation that order has been received
Difficult to find company contact information
No tracking information
Poor returns policy
No return phone call or email
To be kept on hold
Product doesn’t arrive
Slow or no refunds policy
Goods not as described
Unfriendly service

Unfortunately, sometimes a customer will have a negative experience, no matter how hard you try. If that is the case, don’t try to hide behind your policy, don’t lose your temper, and don’t take the complaint personally.

If this happens to you, work with the customer to provide an alternative product, a refund, and even offer a small gift or discount coupon off their next purchase. You will be surprised how an unexpected gesture of generosity on your part can suddenly change the whole dynamics of a situation. Your upset customer then becomes your biggest fan!

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