Loyalty programs may be commonplace across the retail industry, but few are capable of rewarding members on a personal level. Société de transport de Montréal (STM) may not be a retailer, but retail chains can learn a valuable lesson from how the transportation company rewards individual consumers for their loyalty.
By many accounts, Walgreens is already a mobile retailing veteran. But eager to keep its service exciting and valuable, the drug store chain recently added a new product-mapping service within its mobile strategy.
Walgreens began its mobile journey in September 2009, when it launched an app designed to “improve the way our customers interact with us,” explained Tim McCauley, senior director, mobile commerce for Deerfield, Ill.-based Walgreens.
With approximately 95% of retail purchases still occurring in physical stores (according to the National Retail Federation), it has never been more important to find new ways to engage, and connect with, in-store shoppers. For The Finish Line, mobile point-of-sale was a critical component in its drive to enhance the customer’s shopping experience.
One of the biggest problems for retailers is ensuring they have the right sizes and styles available in the correct stores. Retailers that have trouble planning localized assortments are at an additional disadvantage.
Town Shoes knows this challenge firsthand. The 60-year-old company relied on spreadsheets to create assortments, making targeted or clustered store assortments nearly impossible.
Eager to make more effective business decisions, many retailers are reevaluating their business intelligence strategies. With a renewed focus on breaking down enterprise-wide silos, retailers are making a move to the next generation of BI, which includes giving line and store managers access to predictive analytics tools and multifunctional views of data.