Updates of The Week
Drone delivery is a hot topic in the retail supply chain world. This "last mile" question has seen a large amount of interest from many companies including heavy weights like Amazon and Walmart. Drone delivery startup Flirtey, as reported on TechCrunch, is making its own splash in this new area. Flirtey's drones have already delivered pizzas in New Zealand and Slurpees for 7-11 in Nevada. Now with a new round of financing, they are getting ready for their next leap.
Retailers, understanding the driving demand from consumers to make a truly seamless experience with their stores, are rapidly investing in unified commerce platforms for all their purchase points (e.g., store, mobile, web). Boston Retail Partners recently released a survey that outlines what retailers will be doing in this effort. A key finding is that 75% of retailers will use Wi-Fi to identify customers in their stores by the end of 2019. Read the short summary and download the survey at:
2016 was a big year for the Retail Industry, a wide range of innovation and marketing strategies drove the change behind consumer's new expectations. Brick & mortar stores may be scrambling to stay relevant but still hold a key component to future success in 2017. Marketing strategies need to evolve with the consumer's expectations by reinventing their channel, service strategies and product mix.
The detail age of retailing is impacting bricks and mortar stores in ever challenging ways. The mall - the location of many of these retailers - are facing equal challenges. How do they evolve to remain relevant? McKinsey and Company offers three specific strategies and investment priorities to help malls remain relevant for the new digital consumer.
Durable purchases and services have dominated online purchases for years. Fashion products have been bought by 58% of online buyers with travel products (55%) slightly behind. But consumables have drastically tailed behind. This wide gap is a place for innovation for retailers particularly given the advent of more flexible and cost-effective fulfillment options being developed. So the 38% of respondents to a Nielsen "Connected Consumer Survey" who have bought health and beauty products online may just be the trailblazers for an expanding internet. Read the full summary of the Nielsen survey.
I am currently a senior majoring in Retailing and Consumer Sciences while minoring in e-commerce. I hold the position of Social Media Manager for the Terry J. Lundgren Center For Retailing at the University of Arizona, where I am responsible for creating social media platforms that not only enhance our brand but also educate the world about retail trends. I am what you call a Retail Enthusiast, I am intrigued by the way the retail industry is evolving and what it has to offer. In my free time, I enjoy the outdoors, yoga, good music, and good company.