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Five things multichannel retailers should do for customers
While high bounce and exit rates can be frustrating to online retailers, nothing irks them more than seeing a high percentage of abandoned carts.
You were “this close” to making the sale. But somewhere along the sales journey, the shopper got frustrated or lost interest and left. Why? Chances are it was because you, the retailer, didn’t do enough to keep the customer engaged and motivated to complete the sale.
‘But people love our website!’ you say. ‘Shoppers adore our clothes!’ ‘What more do we need to do?’
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Michaels crafts responsive merchandising strategy
Michaels Companies Inc. is tailoring its promotions, markdowns and prices to current customer demand.
The arts and crafts retailer is deploying Revionics merchandising solutions including the vendor’s promotions, markdown and price suites.
A very real challenge for retailers — who now market to the most technology-enabled, in-control shoppers ever — is to avoid the promotional downward spiral vortex and sidestep the vicious “race to the bottom” on competitive pricing. These traps severely erode margins, profits and brand image.
