The Retail Buzz

Almost every day news stories pop up about retailers using clever tactics to reinvent themselves in an effort to entice customers to shop in their store.

Anything from reduced prices to hefty discounts when purchasing more than one item to brand labeling to free stuff to really clever gimmicks is the new approach for retail today.

These value-oriented retailers is something we've been "tweeting" about on Twitter, and I'd like to highlight some of the clever ideas retailers have come up with:

• A triangle of success for retailers featured a reopening of a climbing area, heightening the value of the retail stores in that community. Story at: http://tinyurl.com/c6bgdv
• Barnes & Noble got innovative by entering the Blogosphere with Blogging Booksellers posting short video blog posts. Story at: http://tinyurl.com/cmfs4w
• Upscale men's retailers offering drinks in an effort to get men to linger and shop more. Story at: http://tinyurl.com/c8jajt
  
• Popeyes uses strategy of using real people in ads, highlighting the brand's personality. Story at: http://tinyurl.com/cextbv
• Office Depot applied its expanding "Try and Buy" concept to a full aisle for ACCO Brands' Wilson Jones binders. Story at: http://jijr.com/YAQ
• Kid apparel retailers stand out with Dress Up Kids campaigns. Story at: http://tinyurl.com/cv9tsh
• KMart launched a Twitter promotion offering free shipping on online orders with promo code only to Twitter users. Story at: http://tinyurl.com/cc9b5d
• A retailer's Webisodes introduce online instruction to customers for DIY projects. Story at: http://tinyurl.com/ccy67o
• Walmart's Great Value private label expansion signaled new trends in retail. Story at: http://tinyurl.com/c2ouoa
• Warehouse Express introduced ratings and reviews to offer customers detailed product experiences. Story at: http://tinyurl.com/dk52fr
  
• JoS A. Bank Clothiers gives money back if customer loses their job and lets them keep suit. Story at: http://tinyurl.com/czn4ve

There are so many ways a retailer can pump up their efforts to lure shoppers - holding parties, workshops, you name it. These were some that I came across within the past month.

I'd love to get comments about more ideas or what you've done to get more customers.

Getting online shoppers to convert to buyers, whether online or offline, requires trust-building tactics such as easy site navigation, good search tools and complete product information.

Shoppers today are also often looking for consumer-generated product reviews.

According to Avenue A Razorfish's "Digital Consumer Behavior Study," 55% of the 475 US Internet users surveyed in July 2007 reported checking other people’s opinions online. Fewer than one-quarter looked at comparison charts (22%) or expert reviews (21%). Under 1% cared about shared shopping lists.

A recent Internet Retailer report, “Web Site Design, Content and Rich Media,” showed that consumers who read online product reviews were also likely to buy more while on an online retail site.

Some 27% of the respondents who read customer reviews reported average spending between 5% and 10% higher than those who did not read them. Another 21% of review readers reported average spending between 1% and 5% higher than that of non-readers. Nearly 7% of respondents who said they read customer reviews reported average spending 20% higher than other online shoppers.

Full Article here

Written by Emarketer.com



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