The Impact Of In-Store P.O.P. As A Key Influencer In Purchase Decisions
by Flora Stopher - Original Article on LinkedIn
Posted on October 23, 2015
Today everyone is so focused on "digital", as we are too, as the means to attract and engage consumer shoppers, yet they forget that "IN-STORE" is where the final purchase decision is actually made!
There is no question that websites, mobile and more influence consumer store visits and product interaction, BUT when it comes to making the final purchase decision, it's at The Point Of Purchase where decisions are ultimately made.
Are you displaying all of those key product attributes, options and more to help your customer make an informed decision? If you have a sofa that comes in different colors other than brown, are you showing it? If you have a package deal, are you showing it? If the bedroom set comes in different wood or colors, are you showing it? And So on.... Think about how you shop for anything, and what information you are looking for before you make that final purchase decision...use that process to influence your consumers in your store.
Research into the effectiveness of POP Advertising has focused on answering three key questions:
- Does POP generate a sales lift?
- Do consumers recall POP messages?
- What type of POP generates the best results?
Studies have found POP displays to be effective in increasing sales when used effectively. When consumers are at a store, or point of sale, they are more likely to purchase a good than at any other time or place. When at a point of purchase, the buyer’s mind is in shopping mode, and at it is at this time that POP signs are best at influencing their valuable opinion.
How to Beat Amazon at It's Own Game
by Bill Napier - Original Article on RetailerNow
Posted on August 5, 2015
How your retail store can be like Amazon: In 3 Difficult Steps
(I bet you were hoping for 3 easy steps)
Yesterday it was cold and rainy all day so I was channel surfing and came across a one hour documentary about Amazon;
Amazon's Retail Revolution Business Boomers BBC Full documentary 2014. You can watch it on YouTube here: https://www.youtube.com/watch?v=6UhrIEUjtwI.
I came away with a few key points that all retailers MUST adapt to – or you may become irrelevant, Especially with Gen X & Gen Y.
The First Step is:
Have a vision and the passion for that vision, plus the unwavering commitment to implement that vision.
Essentially you need to be a 2015 disrupter! You can’t be a complacent thinker who only thinks about acting, you need to be a visionary who acts themselves into thinking.
Jeff Bezos recognized that internet technology would change everything. He imagined a destination where people could shop and purchase millions of products; quickly simply and efficiently. More on this later.
His first step was to study retail and look for a complacent model that he could exploit with his vision. That model was the neighborhood/national book store chains, a $16BN industry. Why? Because he knew that a typical 5,000 - 10,000 sq ft brick and mortar space had a "very limited and finite area" of titles/options a consumer could shop. He asked himself:
"What if consumers could shop all the millions of titles that have been printed, and purchase them on line, at one location; quickly & efficiently"?
He knew that by offering a virtually unlimited amount of titles, someone would buy "one of something". That's the definition of "The Long Tail".
What is "The Long Tail"?
Your Social Guide
designed by Chris Jadatz - Download the PDF
Posted on June 30, 2015
What Makes Millennials Tick?
by Robert Bell - Original Article on RetailerNow
Posted on June 29, 2015
The answer, of course, is you.
For years, Baby Boomers were the gravy to the home furnishings retailer’s train. Like clockwork, they’d waltz through your front door every seven years or so—sooner if that big promotion came through or they finally bought that lake house—looking for a sofa or bedroom group.
Only now that gravy train is slowing down. Baby Boomers are downsizing. Those 3,500-square-foot homes are now (gasp!)1,800-square-foot townhomes. Even worse, Boomers have grown accustomed to that 16-year-old recliner so there’s no sense in changing things now.
Millennials—consumers born between 1980 and 2000—are the demographic every home furnishings store is chasing and with good reason: With almost 80 million of them, they’re the nation’s largest population segment. That $170 billion in annual purchasing power they wield isn’t too shabby either.
And they’re only getting bigger. One Accenture study believes Millennials will come into their own by 2020 when their spending in the United States will grow to $1.4 trillion— that’s trillion with a T—annually and represent almost a third of total retail sales.
One more thing: Millennials want furniture. They spent more than $27 billion on it last year, according to Furniture Today’s Consumer Buying Trends, compared to $11 billion in 2012. They account for 37 percent of all furniture and bedding purchases. The back-of-napkin math doesn’t lie: That’s a 142-percent increase over two years. Those same two years saw Baby Boomers’ furniture spending drop 17 percent.
MILLENNIAL MYTH: We Don’t Buy Furniture
One of the most accepted truisms about we Millennials—easily the most overexamined generation in history—is that we don’t want our parents lives of a house and furniture. That we value our free time and don’t want to be burdened with possessions.
Except that furniture sales to Millennials has more than doubled—from $11 billion in 2012 to $22 billion last year according to a recent Furniture Today Buying Trends report. We may not like mom and dad’s 12-piece dinning room group, but we have our own tastes and desires for home furnishings. And we’re willing to pay for it.
Marisa Peacock knows the importance of retailers hooking up with Millennials and has spent the past several years playing matchmaker.
Click Here to Read More
Win Gen X and Gen Y Shoppers at the Zero Moment of Truth
by Bill Napier - Original Article on Social4Retail
Posted on May 27, 2015
Generation X & Y, totaling 112,000,000 are the new demographic for home furnishings and they are "wired for the internet."
Today’s consumers do not drive their father's Oldsmobile. They know virtually everything about your products before they come into your store. They find incredible detail online from every possible source, about the brands and products that matter to them. They search for, tunnel, explore, visualize and master their information requirements, and then they’re ready to visit your store and buy with confidence. And what they learn, and the experience they go through, they share with others.
Digital technology gives your consumer the "power" over everything. Consumers are smarter and more informed than ever. With a few simple keystrokes or screen tap, shoppers can find anything and everything they want to know about products, services, prices and reviews. No longer is an advertising "promise" enough, now it's all about delivering on what consumers define as your promise.
Here’s how you can be part of the new consumer’s buying process, instead of being part of the demise of the small and medium retailer to the large on-line retailers like Overstock, One Kings Lane, Houzz and others.
Consumers today go online, everywhere asking for recommendations and referrals. They’re not only asking for names and phone numbers, they're asking for websites, they’re having conversations with other people, they’re looking up reviews to see what experiences others had with you, they're checking out your products and your prices, just to name a few, assuming they even find you.
Click Here to Read More
Signage is Important in the Sale
by Thomas Lester - Furniture Today
Posted on May 20, 2015
Signs can break the ice and introduce deals. During March’s Furniture/Today Finance Workshop, Progressive Leasing’s Blake Wakefield talked about how sales reps wearing a simple button saying “You’re Approved” prompted conversations about the retailer’s no credit needed program and really boosted the store’s sales.
Last week, we took a glimpse into the rug retail world and asked a handful of producers for tips to better promote rugs in store. In addition to his thoughts that ran in the story, Harounian Rugs International Senior Vice President Greg Jordt also had a few takes on signs.
Jordt said a level of consistency is needed, and every rug in a swing arm rack should have a printed tag that is hung in a plastic sleeve at the same level on each rug. He said each tag format should include rug name, design, color, size and price, country of origin, fiber, construction and other sizes available with pricing.
From there, Jordt said the only brands that should be on rugs are the retailer’s. The point is that as a retailer, you want to build your brand, not the supplier’s. By doing so, a retailer can all but eliminate the probability of being showroomed — the consumer practice of visiting a store to see and feel the product up close, only to buy it elsewhere online.
So do this, don’t do that. How do you use signs?
Hubspot Releases a Guide to a Mobile-Friendly Website
by Bill Napier - Original Article by Hubspot
Posted on May 6, 2015
Regardless of the device a visitor uses to access your website — be it a desktop
computer, a laptop, a smartphone, a smart TV, a tablet, a phablet, or even a (very advanced) toaster — your goal should always be to provide that visitor with a stellar user experience.
If a visitor has to repeatedly pinch and zoom and scroll in order to read your website’s microscopic text or to tap on its awkwardly placed links and buttons, there’s a good chance that visitor is going to bounce from your site. And there’s also a good chance that visitor will end up associating his or her poor experience with your brand or business.
Poof! There goes a potential lead, a potential customer; all because you failed to provide a mobile-friendly website experience.
With more and more people turning to mobile devices as their primary means of accessing the web, being mobile-friendly is no longer a “nice to have,” it’s a “must have.”
Here's what's in the report:
- Introduction: Why Mobile-Friendliness Matters pg. 3
- What Was Google’s “Mobile-Friendly” Update? pg. 5
- How to Analyze Your Site’s Mobile-Friendliness pg. 8
- Google-Approved Mobile Website Configurations pg. 10
- 10 Tips for Optimizing Your Site for Mobile pg. 14
Click here to download the report and read more.
Fox's Latest Reality Experiment Has Couples Live in Fixer-Upper Homes
by Bill Napier - Original Article by Entertainment Weekly
Posted on April 29, 2015
Fox’s latest reality TV experiment puts a new twist on the home makeover genre: EW has learned exclusively that the network has ordered Home Free for a summer launch.
The set-up: Nine do-it-yourself-er couples who need a new house are each given the chance to earn an ultimate dream home when they agree to live in a series of dilapidated fixer-uppers that they must renovate. Each week, they face challenges and twists, and the couple that didn’t “perform up to code” is eliminated. The remaining couples will have to live together in the house they’ve worked on—so the more work they complete, the more comfortable they will be.
Eventually, only two couples will remain, and they will fight to win a lavish house.
The eight-part series is hosted by camera-ready professional contractor and Canadian TV host Mike Holmes (Holmes on Homes), who will push the couples to produce top-quality work. It’s produced by Home Edition veteran Tom Forman.
The Fox series breaks ground on Wednesday, July 22. Home Free comes on the heels of CBS ordering a series yesterday in which needy couples are tempted to keep or give away a briefcase full of cash.
The show will be filmed in Atlanta, Georgia
About the Show:
This is a brand new, unprecedented home makeover show, from the creators of Extreme Makeover: Home Edition. Airing on Fox in July 2015, this is a feel good, family friendly series that will change the lives of all the cast members. In each episode our DIY families will compete against one another and renovate one home, working on rooms individually or as teams. One team will be eliminated each episode, but with two fantastic twists, this show is unlike any other. Everybody wins when each newly renovated home is given to a deserving family!
There are several ways we could create integration opportunities.
The series goes into production on May 12th in Atlanta. The show has an aggressive timeline, and offers a great deal of exposure for Heritage Home Brands by this innovative premise.
Fox Summer Programs traditionally have a strong following, dating back to the launch of American Idol and So You Think You Can Dance. With an estimated 5 million + viewers per episode, straddling the key demos on both sides, this show looks to continue this trend.
There are 9 houses total that need to be furnished, starting with smaller houses and going up in value and size incrementally in each episode until we give the grand prize, which is a brand new dream home.
All these properties will be in the Atlanta area. This would allow you to work with several of your retailers to gain exposure locally, as your brand(s) would get the national exposure.
How it works:
Usually the designer would go through your catalogs and pick the items they want to use to furnish the homes.
After these items are picked, you would have them made and shipped to the local retailer for delivery and setup. We could set budget limits for each show.
The option could be, you do this as a corporate branded program and have the items delivered on one of you corporate trucks
We need to know very quickly if you are interested so we can negotiate on your behalf what minimum exposure your brand/retailers would receive. We would not make any final commitment unless we agreed the trade-out was beneficial to Heritage Home.
Why You Want To Do This:
Of course this could be a huge PR and brand opportunity, especially if they reach 5MM+ viewers, translating to over 45MM+ impressions for Heritage Home Brands.
We could negotiate show elements show casing your involvement and give those video clips to retailers to promote tune-in's/as seen on for the show to promote your brands.
We could incorporate a great social media campaign integrating your involvement.
We could use the items for in-store with POS/hang tags: "As seen on" , etc.
And much more! Call or email us if you are interested in this sponsorship!
Google Penalizes Non-mobile Responsive Websites Starting April 21
by Imagine Advertising
Posted on April 17, 2015
Google announced that on April 21, 2015, a new algorithm update will roll out, effectively lowering the ranking of a mobile-unfriendly website. Giving priority to your mobile competitors in search results. This means that potential customers will not be able to find you if you do not have a mobile-enabled website. This could equate to lost branding and revenue for your store. (Read the article here - http://www.bostoninteractive.com/about/news/2015/03/google-to-penalize-your-non-mobile-website-on-april-21)
Nonetheless, every Imagine Retailer Website is 100% mobile friendly and optimized to display properly on any device. This means an Imagine Retailer Website, complete with eCommerce for $199, stands no chance of getting ranked lower in the search engines because of its mobile responsive Website design. Look at how an Imagine Retailer site displays in Google's test:
Is your Website 100% mobile-friendly? Click on the link below to find out and see how Google views your Website:
SEE IF YOUR CURRENT WEBSITE IS MOBILE RESPONSIVE HERE.
Plus, click on this link to read Google's mobile responsive requirements:https://developers.google.com/webmasters/mobile-sites/mobile-seo/configurations/responsive-design
What’s Your Store’s Zero Moment of Truth?
by Bill Napier
Posted on January 6, 2015
Back in 2002, PriceWaterhouseCoopers warned about changes coming to our industry.
“If retailers do not recognize and embrace the changing nature of the consumer, they will not just be punished, they will be punished with impunity.”
Even now, 13 years later, this remains true. It astounds me that many home furnishings retailers are still reluctant to embrace the dynamics as to how consumers shop today. Take one example I hear all the time from my colleagues who build and maintain websites for retailers: It’s too expensive! Retailers still think the investment in designing and maintaining a great website is too expensive, so either they forgo having one or they build a cheap website, with a few pictures that no one ever finds while searching. With that said, let’s take a look at some statistics from Google THINK and Google COMPETE.
In 2012 Google examined consumers’ shopping habits in a study called “The Zero Moment of Truth.” Essentially, Google found that the old model retailers used to engage consumers—advertise a product to get consumers into the store, buy the product and then share their experience with friends—was lacking a key element. That element was search the web, read reviews, watch videos and more, before visiting the retailer. The Zero Moment of Truth!
And guess what? Everything above involves the World Wide Web. But the most stunning element about Google’s Zero Moment of Truth with the home furnishing category relates to the following:
But that’s only the beginning of the story. Take a look at these statistics that offer insight into a shopper’s mind.
Retailers MUST Embrace Technology NOW Or Become IRRELEVANT
by Bill Napier - Original Article by Retailer Now: Mike Luna
Posted on October 10, 2014
I found this snippet of advice years ago when I was trying to get retailers to advertise their stores to increase their sales velocity. In today's home furnishings' retail environment this has become even more relevant with one word driving the path towards retail failure or liquidation...TECHNOLOGY.
Technology before the sale, Technology during the sale and Technology after the sale. We call it the Brick to Click Solution.
Step #1 - BEFORE THE SALE - MANUFACTURERS NEED TO "STEP UP" AND GET WITH THE PROGRAM.
Many manufacturers in our industry have hundreds, if not thousands of SKU's they sell. In the old days...and even today, they use catalogs to show a picture and then the sales rep would "write an order" and probably call it in or Fax it in. Sound familiar?
Manufacturers need to standardize and "push out data" to their retailers, who in turn can push it out to the 75% plus of consumers that are "looking for it" online, every day.
This is a process that should be done daily, weekly and/or monthly. The data should be updated and "cleaned", eliminating discontinued product, adding new product, specials and more to make the "total" selling process "easy", from rep to retailer to consumer. They haven't done this and it's killing our brick & mortar retailers!
Step #2 - RETAILERS NEED TO INVEST HEAVILY IN A WEBSITE AND OMNI-CHANNEL MARKETING
If you don't have a great website, loaded with brands, products, pictures, content and an e-Commerce platform allowing consumers to buy online as well and in-store, you will fail in today's wired economy because...
75% of consumers will NOT even know you exist!
But to have a great website, we need to go back and start with the manufacturers and how they have not embraced TECHNOLOGY.
But this is only the first level where TECHNOLOGY has changed everything. Consider these facts where TECHNOLOGY drives every aspect of the retail pathway to purchase. Don't forget, and search engines do not see pictures...just words/content so pretty websites that lack content, fail miserably.
- 15% of furniture sales are made online. This is expected to grow to over 32% in 5 years (Business Insider Intelligence (March 2014)
- “71% of customers expect to be able to view in-store inventory online.” (Forrester)
- 75% of consumers exposed to home furnishings' traditional advertisements later look-up the advertiser "on-line".
- 76% of home furnishing shoppers rely on the retailers website.
- 65% of home furnishing shoppers were NOT sure what retailer they would purchase from when they searched products/brands.
- 70% use mobile phones in-store to research and accompany their shopping experience. (Google)
- 77% of smartphone purchases happen in the store, not later online.
- By 2016, 86% of all digital shoppers will be mobile shoppers as well
* Items 3-8 are from (Google). Information is at the bottom of the article
STEP #3 - EMBRACE & IMPLEMENT TECHNOLOGY AT THE CASH REGISTER AND BEYOND
Once you've attracted the consumer, now the real hard work begins. How do you manage the complete selling process? Do you have a POS program that manages the complete supply chain process?
I'm not talking just about placing orders and taking delivery, I'm talking about having complete control of your business...knowing what's happening, when it's happening, where it's happening and how it's happening...instantly. That requires TECHNOLOGY.
Knowing your business - 24/7...instantly;
- Purchase Orders; Expected deliveries, in stock, out of stock, custom orders
- Vendor Management; product info, orders, returns, balances
- Shipping & Deliveries: Tracking shipments and delivery dates. Maintaining control of back-orders.
- Employee Management: Employee scheduling, commissions, team activities
- Customer Management - CRM; Organizing your customers, tracking, negotiations and sales. Managing appointments, email marketing and more.
- Omnichannel Marketing; where consumers are coming from, where they spend the most time and how to maximize that channel on your website, social marketing and more.
And then we start the cycle all over again, every minute of every day. That's how we compete with online retailers like Wayfair and Amazon...TECHNOLOGY!
And if you don't embrace TECHNOLOGY in every aspect of your business, you will become irrelevant- sooner rather than later.
Think Levitz, Blockbuster, Montgomery Wards, Borders and countless others that were comfortable with their business model and got ambushed by the new consumer who embraces TECHNOLOGY in everything they do.